Work culture has changed significantly over the years. Jobs are no longer guaranteed for life like they were in our parents/ grandparents day. The shift in culture can lead to staff feeling less inclined to try new ideas at the risk of exposing themselves. Instead, they default to complacency; "it's easier to make small improvements, to fit in versus stand out, and to just do the job you were given".
For every tech start-up following a 'fail fast, learn faster' mantra, there are corporate leaders who avoid failure, not embrace it. The problem is that's how great companies become mediocre.
Take Thomas Edison as an example. He had many epic fails on the way to his 'lightbulb' moment. He didn't view his inventions that didn't work as failures. Instead, he famously said: “I have not failed 10,000 times—I’ve successfully found 10,000 ways that will not work." The key to failure is accepting it and transforming them into innovative solutions.
It was refreshing to read the below article about how HubSpot have created a culture where it is not only okay for employees to fail, it is encouraged. HubSpot holds Failure Forums where employees volunteer to share a story about a mistake they've made in their careers and what they learned from it.
It's not just HubSpot either. Many tech companies have identified that failure isn't always a bad thing. If at first you don't succeed, try try again, et al.
In a SaaS environment, where innovation is key, adopt failure into your company culture, the same way you invest in your teams, customers and products because if you don't. Guess what? You fail.
Creating a culture where it's not only okay for employees to fail, but where they're encouraged to, has become a competitive advantage for companies for a few reasons. Employees are more likely to try something bold, innovative, and new when they aren't afraid it'll cost them their job.