I bet you’ve read a lot about the important role culture plays within an organization and how it can help attract and retain invested employees. And I bet you’ve skimmed articles that outline the types of culture management should encourage: growth mindset, entrepreneurial, ethical, team-oriented, horizontal, progressive, the list goes on and on.
Heck, we even published five articles on culture within the last few months!
Just when you thought you’ve had enough, we’re springing another on you:
Before you gloss over (trust us, we were skeptical too), this is one type you’ll want to learn more about, especially if you are a business owner.
In an organization that has a culture of ownership, the company leaders don’t need to be involved in every detail, task, and decision. Instead, they can focus their attention elsewhere, confident knowing that their employees will come to them when problems arise or they need help.
An employee within an ownership mindset has the drive to succeed because he/she is emotionally invested in the company. They don’t cover up problems, they expose them because they seek to grow from the experience. They will gladly ask for help when they need it because in the end, they will do what it takes to succeed. In short, they measure their success by the success of the company.
Four Ways to Turn Your Employees into “Owners”
So, how do you get your employees to embrace the ownership mindset? It’s not about offering stock options or elevating them to partner status, it’s about how you conduct business and treat your employees. We’ve identified fours ways you can encourage a culture of ownership within your company.
1. Promote Values That Resonate
Having clearly communicated values that employees can relate to and “own” will lead them to be loyal and engaged team members. When successful, the lines between what is good for the company and what is good for them personally and professionally become blurred, and they feel deeply connected to the organization.
2. Encourage Employees to Think Like Entrepreneurs
Provide your employees with tools, training, and opportunities to flex their entrepreneurial muscles. Give them the authority to make their own decisions, and support the consequences—good or bad.
3. Be Transparent
By sharing information usually reserved for upper management, you build a sense of trust and can boost your employees’ sense of ownership of the company. Train your employees to understand the information and provide them with insight to know how their jobs affect the bottom line.
4. Reward Ownership Behavior
When an employee demonstrates ownership qualities, reward them for the behavior. The Balance offers this advice, “When choosing the most appropriate reward, remember that people with ownership are emotionally invested in their work. The recognition that will have the most impact is the kind that is customized and personal because it will connect with the employee on an emotional level. Just like with any special occasion, the nice present is appreciated, but a sincere and genuine message in the card is treasured.”