Our ethos is to proactively research and implement the latest evidence-based business innovations into our organisation, in order to ensure we are providing the best possible service to our clients. The following provides some examples of our organisation-wide initiatives.
Current research shows that optimal productivity is achieved by people who work less hours (not more)! According to a study by The Draugiem Group in 2014, the top 10% of employees in terms of productivity did not work the most – in fact, they worked less than eight hours a day! Taking this research on board, we undertook to do away with the billable hour. We believe the billable hour not only incorrectly incentivizes employees to put in long hours, in fact such long hours beget lower productivity, which passes on unnecessary costs to the client. Furthermore, at innofy we encourage our employees to work less hours, and take more breaks, therefore realising the productivity gains which we pass on as cost savings to our clients. Bear in mind that a 1951 study at the University of Illinois revealed that scientists who attended the laboratory 25 hours per week were no more productive than scientists who attended only 5 hours!
Traditionally thought as solely within the edict of social justice advocates, at innofy we understand that diversity influences superior business outcomes. Causal links have been established both economically and financially, both in terms of female representation at board level, in senior executive roles, and in organisation populations in general. Therefore, we are committed to ensuring that our team is, and continues to remain, balanced.
We do not operate in a vacuum. As global citizens, we understand it is also our responsibility to ensure greener, more sustainable business practices as well as to promote a culture of giving back. Indeed, sustainability is also proven to improve business outcomes – a Big Innovation Centre Policy Report, UK, concluded that corporate “purpose” is linked to corporate performance and innovation. In view of this, we are developing a number of initiatives to reduce our footprint.
Team members are actively encouraged to spend at least half a day per week researching and developing ideas for improving business practices. Some of our ongoing research projects including increased automation and artificial intelligence, and new sustainable business initiatives.