Why are so many established organisations embracing corporate entrepreneurship?
The world of work is changing. Organisations need entrepreneurial capabilities to innovate and to recruit & retain talent.
Corporate entrepreneurship encourages the development of new ideas and opportunities within established businesses and can directly lead to improved profitability and competitive advantage.
Innovation is intrinsically linked to corporate entrepreneurship and the process of driving calculated and beneficial risk taking – which can alter the balance of competition within a sector, drive disruption and create entirely new niches to prosper from.
Investing in corporate entrepreneurship can help you attract and retain future talent
The millennial generation now entering employment in vast numbers, will shape the world of work for years to come. Attracting and retaining the best of these millennial workers is critical to the future of your business. 90% of these recognise the value of entrepreneurship as a mindset that is important to their future success.
If you don’t adapt to the changing mindsets and behaviors of your future talent you face a costly uphill battle as your competitors adapt their processes, environments and cultures to attract and retain millennial talent.
Corporate entrepreneurship must be tailored to an individual’s and organisation’s specific needs
Corporate entrepreneurship is critical for large companies that are traditionally more averse to risk-taking. enploy’s research with over 400 apprentices and graduates within the financial sector were on average 12% less comfortable with risk than young entrepreneur.
The greatest difference between these young financial employees and young entrepreneurs was within creative thinking where young entrepreneurs on average scored more:
The good news is that entrepreneurial mindset can be learned, practiced, encouraged and harnessed for the good of the employee and employer.
Measurable outcomes and a focus on ROI will ensure corporate entrepreneurship is a facilitator to success and not a fad…
By investing in the right processes and L&D upfront you can:
A solution you should consider if corporate entrepreneurship & future talent pipeline is on your agenda:
Enploy identify, teach, measure and reward entrepreneurial skills & behaviours. Through our proprietary diagnostic tools and online learning and development platform, we enable young adults and employers to build entrepreneurial skills and behaviours that drive success.
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