I guess I would need to know what you mean by elegance. I typically think of elegance, with respect to programming, as implying simplicity, understandability, and efficiency. Obviously there are trade-offs between the three; and some organizations can tolerate (or require) higher levels of complexity in order to improve efficiency. In these cases you'd better make sure you hire top-notch programmers.
Simplicity and understandability seem to go hand in hand. Refactoring, I think, is the art of taking complex, smelly, inelegant code and making it simpler and more understandable. I guess I wouldn't change things to be more complex unless there was some significant, justifiable gain in efficiency or capability. As an example, I would say that using AJAX will result in more complex application but it can result in a much better user experience. This is complexity that I would be willing to absorb. On the other hand, why develop full-fledged email capabilities in your web application when a mailto link actually does everything you need.
I guess all of that is to say that there is innovation for innovation's sake (we all like to play with new toys) and innovation to improve business value. I would try to discourage the former and encourage the latter. Give people time to explore new technologies/techniques but insist that those technologies/techniques demonstrate value before adopting them. Where you have existing solutions, refactor mercilessly to improve simplicity, understandability, and efficiency, knowing that if you refactor towards efficiency you may need to hire accordingly.