In the mad dash to innovate, most companies look outward to find the brightest minds that can give them the edge they need. To succeed, no talent should be overlooked, which means making the most of the talent inside your company, too.

General Electric is often lauded for successfully crossing competitive lines for innovation, and its Open Innovation Manifesto beautifully demonstrates how collaboration helps everyone achieve more. What's usually overlooked is that its manifesto doesn't limit innovative efforts to external sources. GE has systems in place to crowdsource new ideas from within and across the organization as much as outside of it.

When you're looking for new sources of ideas and inspiration, don't ignore the potential of your existing employees.

Here are three strategies you can adopt to take advantage of the people you already have on payroll to enhance your organization's systems, products and services.

1. Communicate the business' needs

It's difficult to create positive internal solutions when so much of your organization's bandwidth is dedicated to external concerns like the customer experience. Your employees can never contribute to finding solutions if they're kept in the dark about what the organization needs. If you want their help, you must be open about the challenges your organization faces.

Clearly communicate which internal process or system enablers create more effective external action and performance. Then provide opportunities to address these issues on a regular basis. That means freeing up time to focus on new and meaningful challenges and understanding that first efforts might not be perfect. Innovation is messy, and people usually fail on the way to success.

2. Identify and groom high-potential employees

Instead of looking outside your organization for a skill set that will allow your company to stay on the cutting edge, focus on identifying and grooming high-potential employees within your organization to foster innovation. Don't think about someone only in terms of his or her current functional expertise, either.

Be a coach for your employees, providing focus, encouragement, and mentorship to guide their efforts. I've seen a lot of success in making more effective talent management a top priority. At each step, employees gain new expertise and a broader understanding of the strategic and operational challenges facing the company.

3. Set clear expectations

Even your most wildly talented employees need to know what's expected of them and how they can accomplish it. This means establishing a common language for innovation, being explicit about the differences between incremental innovation and breakthrough innovation, and communicating what types of solutions you need. Don't let employees pick easy tasks, either — challenge them to create significant value, and watch them rise to the occasion.

You shouldn't scrap your external innovation efforts, of course, but you also shouldn't ignore the value of your existing pool of talent. If you can uncover your employees' hidden potential and give them the opportunity to make a difference, you'll unlock a storm of innovation and gain that competitive advantage you've been wanting.