Improve your creativity or lose your job

Join The Innovators Community - Great Minds Think Better Together

The economy upon which companies and employees have built their future has changed. The creative economy requires that you improve your creativity or lose your job

improve your creativity

Just do a quick comparison of market capitalization to book value for public U.S. companies over the last two decades.  There is a dramatic rise in value attributed to intangibles – ideas, innovations, intellectual capital, etc.  In 1978, book value averaged 95% of the market cap – machinery, buildings, etc.  Today, the book value makes up 28% of the market cap. That means that 72% of the value attributed to companies is now coming from intangibles.

The value attributed to such things as intellectual capital is evidence of the transition we are experiencing to the creative economy which requires different skills from its workers.  It places a higher premium on creativity and the ability to translate the ideas generated into meaningful innovations.  A well-known formulation of this argument comes from Robert Reich, who argues that the economic well-being of any country now depends on the creativity of its workers rather than the profitability of its corporations.

In this new world, wealth creation is dependent on continually being able to create new ideas.  Workers who have embraced this creative economy by improving their innovation skills earn an average of $20,000 a year more than other workers. So you better get started and improve your creativity.

A Conference Board survey of CEO’s found that creativity is growing in importance (97%).  To reinforce this point, these same CEO’s said:

“they prefer the creative employee over the technically skilled one” 63% of the time.

Do you have the creative skills to succeed?

 

Zoom - 2017 Gartner Magic Quadrant for Meeting Solutions - Is a sponsor of the Killer Innovations Show
Order Your Killer Questions Card Deck

Please note: I reserve the right to delete comments that are offensive or off-topic.

Leave a Reply

Your email address will not be published. Required fields are marked *

3 thoughts on “Improve your creativity or lose your job

  1. Developing the skills necessary for a creative economy (or a creative enterprise) is at odds with the command and control experienced in many organizations, even today. CEOs may say they prefer creative employees, but how many realize it’s their responsibility to set in place the kind of culture that allows such creativity to thrive? Maybe that’s why we’re seeing so many workers voluntarily leaving corporate jobs, because such environments tend not to allow for the autonomy, mastery, and purpose that Daniel Pink (in Drive) identifies as the bedrock of a creative culture.

    It’s one thing to have the creative skills to succeed, quite another to find the right culture in which they are both appreciated and leveraged.