Shaping the Future of the Labor Market with Open Innovation

Open Innovation to Meet the Challenges of the Labor Market

Open Innovation (OI) is a framework to solve problems in a high-yield and low-cost manner. It is increasingly used by business, governments, and other organizations seeking solutions. OI relies on external input – that is, feedback from outside the organization. This type of innovation can take the form of Crowdsourcing, prize competitions, Challenges, and more. These organizations collect ideas via brainstorming sessions to push scalability and growth.

A Solution for Any Sector

OI can be applied to solve difficult problems. NASA frequently uses Open Innovation to crowdsource ideas from the general public. As they write, “the idea is to create the most innovative, efficient, and optimal solutions for specific, real-world challenges being faced by NASA researchers.”

Beyond space and earth science, OI can also be applied to other sectors. We’ve previously discussed the applications of Open Innovation to improve healthcare. Another example is to apply OI to the labor market.

The Impact of COVID-19

COVID-19 has upended the economy, shifting the way we do work, and shutting down many sectors entirely. The labor force changes observed during the COVID-19 pandemic will likely persist in some form, as people continue to opt for remote work and upgrade skill sets – for example, to keep up with trends in automation and an increased reliance on computers and technology.

In this document, you’ll read about the ways you can apply OI to solve problems in the labor market. The problems solved by Open Innovation include helping people get back to work, improving skillsets and creating internship and apprenticeship opportunities, and others.

Learn more about Open Innovation and its promise to transform the labor market by downloading our Whitepaper below.