Your company doesn't have to provide literal "employee ownership" or stock options to establish a culture of ownership. Your actions as a leader are what counts.
You can take small actionable steps to develop that sense of pride, commitment and psychological ownership within your team.
Below we have listed 5 ways leaders can help increase that ownership mentality within their organizations and unleash the entrepreneur inside every employee.
To illustrate the ownership mentality, we wanted to share a video clip of some of our employees here at SRC (our holdings company and sister divisions) talking about what it means to be an owner (as you know, SRC is an employee-owned company, but these comments aren’t about stock value or monetary rewards; they’re about genuine pride and commitment to a company they can help build with their day-to-day actions).
In addition to the video, we wanted to share a “Top 5” list of ways you can increase ownership mentality in your company.
Then, we ask you to provide some examples of how you build ownership at your workplace.
1. Recognize, Recognize, Recognize
A pat on the back (especially from your superior, goes a long way). Creating an ownership culture means recognizing on-the-job successes and celebrating the wins.
This improves employee morale and motivates them to feel like they are truly part of something.
2. Ask for Others' Opinions & Let Them Make Decisions
We get buy-in from employees on all our major annual plans (called High-Involvement Planning).
After all, the key to playing the Game is for employees to think, act, and feel like owners. A strong sense of ownership comes from being able to make decisions and have a say in the outcome.
3. Show Respect (to Every Employee)
One of my favorite quotes, “I judge a leader based on the way they treat their subordinates.”
Regardless of how long they've worked at the company or what position they hold, show respect.
4. Show Employees How They Can Make an Impact
One of the three pillars of the Great Game is "educating" employees. Showing your workers how their roles connect to the organization's larger vision will allow them to see the bigger picture.
This will help them gain an understanding of how important their actions are to the company's success. You can start with some basic open-book training to get the creative wheels turning.
5. Maintain a Great Company Image
Nothing is better than hearing something good about your workplace and having that moment of, “Hey, I work there.”
How do you build a sense of ownership in your company's culture?