Driving Innovation

I want to touch on innovation because Compass is really trying to really create a new category, if you think about it, really bring tech to transform the entire real estate industry. What strategies do you have for encouraging innovation on your team, and what about in the organization as a whole?

I’ll say two things. I think the moment that we’re in right now may be one where you may not want too much innovations, may not be a popular sentiment, but I think in times like these, I almost think the question for leaders should be, how do you foster focus versus foster innovation?
And I think sometimes it can be quite hard in an innovative company like a Compass or these other companies out there who are looking to change the paradigm of an industry, you’re constantly thinking about innovation, can actually sometimes be a harder challenge to foster focus.
But to directly answer your question, you are what you hire for, what you fire because of, and what you reward. And so I think making sure that innovation, if it’s done in the right way, even if it doesn’t lead to the amazing, dream big 10x outcome, but that was the spirit of what you’re trying to build as a company.
If that is there, how do you make sure that you’re shining a light on it, that you’re recognizing it in whatever ways you have in your organization? I think that that’s really important. You are what you do more than you are what you say.
So how do you show through your actions that you are rewarding the types of innovative behavior that really matter for you and for your team to be successful?