Experimentation and Learning brings many advantages for companies, if introduced purposefully: It promotes new behaviors and creates a corporate culture that is open to change and innovation. These benefits can also be impressively demonstrated with figures. Experimenting and learning is a central component of the digital mindset. It makes easy what was previously difficult and tough.
Experimenting & learning:
5 clear advantages for companies
Implementing an experimentation and learning program can be a tremendous benefit to organizations. Here are some of the key benefits:
Companies that introduce experimentation and learning programs are better able to generate innovative ideas and develop new products or services. Employees who are encouraged to take risks and learn from mistakes are more creative and innovative in their thinking and can thus drive the company forward.
Increase employee motivation
An experimentation and learning program can increase employee motivation and engagement. Employees who feel free to try out new ideas and learn from mistakes are more satisfied and engaged at work. In this context, the Experimentation Canvas and other tools provide employees with a safe framework within which they can experiment freely.
Employees who are encouraged to learn new skills and expand their knowledge through an experimentation and learning program can do their jobs better and are more productive. Employees can thus respond even better to new challenges in the company.
Improve risk management
Through experimentation and learning, companies can also improve their risk management. Employees who are able to identify and manage risks can help avoid or minimize potential problems in the company.
Stronger culture of innovation and transformation
An experimentation and learning program can also help create a corporate culture that actively promotes innovation and change. Companies that actively support a culture of continuous improvement can more easily respond to change, transformation, uncertainty. All of this plays a central role in the context of innovation, the introduction of new products and services. Because it is precisely here that uncertainty is the central factor that must be endured and overcome through stepwise approach of experimenting and learning.
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Experimentation & Learning:
In numbers provable
Experimentation and learning can also be impressively proven with figures. Increased employee motivation can have a significant impact on a company’s success. In fact, studies show that motivated employees can lead to an 18% increase in productivity, a 23% increase in profitability, and a 10% increase in customer loyalty.
Productivity increases by 18%
High employee motivation leads to greater job satisfaction, which in turn can lead to higher productivity. When employees are satisfied with their tasks, they are more willing to give their best and work hard for the company. They are also more motivated to contribute ideas and suggestions for improving processes and products.
Profitability climbs 23 percentage points
Furthermore, increased employee motivation also leads to higher profitability. When employees are motivated, they work more effectively and can therefore complete more work in less time. This leads to greater efficiency and a reduction in operating costs. In addition, motivated employees are also willing to take on additional tasks and assume responsibility, which in turn can lead to higher profitability.
Customer loyalty grows by 10%
Higher employee motivation also leads to more loyal customers. When employees are motivated and satisfied, they tend to be friendlier, more courteous and more willing to go the extra mile to meet customer needs. This leads to higher customer satisfaction and a greater likelihood that customers will return and recommend the company to others.
Increased employee motivation has significant benefits for a company, which can be proven with figures. It is therefore important to invest in employee motivation in order to achieve higher productivity, profitability and customer loyalty.
“Experimentation & Learning” – a concept that is anchored in behavioral science and because of that actually brings about change.
Experimentation and Learning: Core to a Digital Mindset
Digital mindset is the openness and ability to embrace changes triggered by new technologies and digital transformation. They are perceived as an opportunity rather than a threat. By encouraging their employees to experiment, try out new ideas and learn, companies train new behavior patterns that make them fit for the future. Transformation, overcoming uncertainty, change – with the digital mindset, what was previously tough and difficult becomes easy.