In a previous article, I wrote about our awesome implementation team and further mentioned the Quintessence values of Excellence, Innovation, Learning and Kindness. These specific values have been chosen to essentially foster a particular culture. I would like to elaborate further on this former statement and discuss why these values are fundamental to the growth of our business and product.
My entire career has been spent in the investment management industry. I have consulted in various capacities and today am intimately involved in the solutions we deliver to our clients and partners. My experience has made me acutely aware of the fact that continuous innovation is key. Innovation is what gives Quintessence its edge. This is evident in how the product has evolved over the years. Anyone involved in fintech would know that continuous innovation is required to ensure that competitors don’t steal your lunch. So how do you ensure that the business continues to innovate?
There are various requirements for innovation. Allocating a percentage of your revenue to R&D is an example. However, this does not guarantee innovation. The reality is that innovation should be a shared value in the business. Everyone should be motivated to innovate given any opportunity. In order to create an innovative environment, people need to feel safe to:
It is no coincidence that in academic environments where innovation has always been the ultimate goal, the tenure model evolved to provide researchers with a safe environment to do their research. I personally believe that the move away from the tenure model in some universities will be detrimental in the long term to research coming out of said institution.
Addionally, if psychological safety is a requirement for innovation, one needs to ensure that safety is a consequence of the values shared by the company.
This is where kindness comes in. Sharing this value ensures that we cultivate a safe and caring environment, and consequently a fertile environment for innovation.