Admit it. Your big corporation is in trouble. The monotonous work inhibits business innovation, and when new business ideas do appear, bureaucracy drags it to another meeting before it’s categorized as another ‘long-term project’. In today’s digital world, when there’s a pain point, numerous startups appear and bridge the gap that corporates cannot. The entrepreneur culture is disrupting traditional corporates, as startups bring about “death by a thousand cuts” to previous market shareholders. Here’s why you need to identify intrapreneurs within your organization.
Importance of Intrapreneurship
This entrepreneurship trend highlights the need for corporations to incorporate own business entrepreneurship ideas. So how can you compete against the technology driven era? It is to identify corporate entrepreneurs (aka intrapreneurs) in your company and to leverage them to generate new growth. With their entrepreneurial spirit, it’s possible to deliver innovation, increase employee satisfaction and improve talent retention. To put this into practice, you must first identify intrapreneurs within your organization.
What is an Intrapreneur?
Intrapreneurs are employees within large organizations, who have entrepreneurial spirit to bring innovation to a large company. They are uncomfortable with the current status quo of their company and seeking new projects to bring change and growth to the company. They aim to speed innovation as they take on challenging projects. It is estimated that 5 to 15% of the workforce have the entrepreneurial drive. This number is only expected to grow as more millennials are entering the workforce, with 71% of them stating that they would rather work for themselves. Learning how to build a culture of innovation leads us to the next question:
How do I identify Intrapreneurs?
You can begin to identify intrapreneurs within your organization by identifying these three qualities:
- Past record of startup projects: Have they significantly developed or contributed towards startup projects before? They may be able to share useful learnings from their past experiences and be able to drive a new startup project within your organisation.
- “Disruptive” working style: Are they rebellious and often challenge the current methodology of your company? Can you sense their frustrations with your company’s goals and vision? How often do they experiment with new ideas and are less risk averse compared to the rest of the team? They may be potential entrepreneurs who need a different managing style and yet, many managers fail to identify the entrepreneurial spirit and instead see these people as difficult to manage.
- Intrapreneur DNA: Do they have innate entrepreneurial spirit? It has been proven that successful entrepreneurs share common characteristic traits that can be predictors of future performance. These traits can be mapped and scored based on a personality test that explores problem solving, behaviour and attitude, and social intelligence helping you identify which people are more likely to be successful at intrapreneurship programs.
A combination of all three qualities can be used to identify entrepreneurs in your organization, but depending on your existing systems, points 1 and 2 above may be very time consuming to determine. An intrapreneur DNA test is a very accurate filter and predictor that can be applied to many people very quickly online.
Using a scientific approach, our own AfCE’s Intrapreneur DNA test scores a personality based on problem solving and intellectual disposition, as well as on compliance and self-regard. Experiential disposition and social intelligence are also measured to identify indicators of a strong entrepreneurial spirit.
If you’re interested in learning more about our Intrapreneur DNA test, feel free to contact us at [email protected] and we’ll be happy to discuss further how this could be useful for your organization.
How do I leverage Intrapreneurs?
Now that you know how to identify intrapreneurs, next week, we’ll teach you how to utilize them to bring innovation to your company. Keep a look out for more of our blog posts!