Vodacom has launched an initiative which will reward the best idea in the company with a first prize of R1 million.
“Innovation is a big, exciting part of what we do at Vodacom and I want everyone to be a part of it,” Vodacom CEO Shameel Joosub told employees.
“I want you to come up with innovative ideas and suggestions that can potentially play a significant part in changing the way we function and the way we do business.”
To encourage employees to share their great ideas, Vodacom is offering large incentives for good ideas. This includes a first prize of R1 million.
“For the first time in Vodacom’s history, we will be making one of our staff members a millionaire. I advised you recently about getting your creative juices flowing, so now is your chance to submit those brilliant ideas,” said Joosub.
Vodacom is not the only company to offer large incentives for innovative ideas. FNB has been offering a million rand every year to any person in the company who comes up with a great idea and then implements it.
“This goes a long way towards creating the right type of culture within a large corporate which could otherwise be very bureaucratic,” said former FNB CEO, Michael Jordaan.