For the past few decades, many major corporations (Google, Apple, Intel, IBM, 3M, etc.) have been actively implementing the corporate culture of intrapreneurship. Giving the employees a chance to test their entrepreneurial capabilities and define the company’s future has proven to be an effective managerial tool. This paper addresses the importance of intrapreneurs in corporations, how they differ from other employees, and the reward system.
Stimulation of entrepreneurial thinking has recently become a standard practice in IT corporations, as the increasing competition calls for new methods of operation. According to Prieto et al. (2020), “firms must become more intrapreneurial, to survive in this current global environment where the new mantra is “innovate or die” (p. 93). Therefore, activities like Google “hackathons” are crucial for big companies to develop innovative projects.
Intrapreneurs act much like entrepreneurs compared to the “regular” employees in the companies. Herger (2016) cites self-motivation, high energy, and mindfulness as the key qualities for an intrapreneur. Prieto et al. (2020) argue that to adopt the culture of intrapreneurship, companies should provide employees with more power, knowledge, training, and an effective rewards system. Overall, intrapreneurs are the employees who have the motivation to go the extra mile for the company.
The reward system for intrapreneurship differs between the companies significantly. Herger (2016) argues that monetary rewards often lead to disruptive behaviors, praising the corporations that build labs for the intrapreneurs instead or even allowing them to create their branch of the company. The opportunity to fully accomplish their project often proves to be the best reward for the employees with an entrepreneurial attitude. The well-being of the employees directly contributes to the efficiency of the company. Meister and Brown (2020) mention that in recent years several corporations introduced new HR roles that are responsible for the employee experience within the company. Coronavirus has forced companies to look for new methods to increase employee engagement, as most of them have to work remotely now.
Intrapreneurship has become a vital element of the corporate culture in recent years. Competition forces large companies to look for new solutions to boost their creative output. The facilitation of entrepreneurial thinking has proven to be an effective measure for the major players in the IT field. The success of intrapreneurship at these companies might pave the way for other industries to create a new working environment.
References
Herger, M. (2016). Rewarding intrapreneurs or rather how not to punish them. Enterprise Garage. Web.
Meister, J. C., & Brown, R. H. (2020). 21 HR jobs of the future.Harvard Business Review. Web.
Prieto, L. C., Phipps, S. T. A., & Kungu, K. (2020). Facilitating a culture of intrapreneurship: An employee involvement approach.Strategic HR Review, 19(2), 93-95. Web.