Employees Feel and Act as Owners
7 Ways to Incent Employees to Feel and Act as Owners
Building accountability into your business culture is a leadership process. It can’t be driven by edict, and there is no magic potion.
One of the lessons I have learned over the years as a business executive, and now as a mentor to entrepreneurs, is that if you really want employees who enthusiastically take ownership of their work, you have to start treating them like owners, not renters.
Owners feel they have skin in the game, and benefit from improved effort and results, rather than just getting blamed for problems.
Unfortunately, according to Gallup’s State of the American Workplace report, only about one-third of employees feel like owners.
Another 50 percent are “job renters,” bringing only their hands, but not their hearts to work. They show up every day, keep a low profile, and collect a paycheck. The remainder are actively disengaged, and passively block or actively sabotage forward progress.
It’s a growing challenge, since we now have four generations of workers together — Matures, Boomers, Gen X, and Millennials (Gen Y), all with different ideas of how an owner should act.
I was impressed to see some real guidance on this subject in a new book, Counter Mentor Leadership, by Kelly and Robby Riggs, a father-son coaching team that spans the age spectrum.
These authors helped me validate my own recommendations on how business leaders and entrepreneurs can incent their own team members and employees to move a bit closer to the owner mentality. These include the following:
1. Clearly communicate the big picture, and current reality.
Be accessible, talk often to the team about the business, and be specific in communicating a vision and goals.
Don’t hide the current reality of challenges and shortfalls. Employees can’t be owners if they don’t understand the business targets and realities. They will revert to renters, at best.
2. Give every employee the necessary degrees of freedom.
Remember, one of the key drivers of ownership is a sense of autonomy. By definition, the freedom box is different for every owner.
Some are super-capable and deserve a lot of decision making flexibility, while others are new or less experienced, so their box must be a bit smaller.
3. Make them owners with stock options and actions.
Ownership can be financial or psychological. Steve Jobs was a master of having team members own their work, with small things like developer names molded in the plastic cover of the Macintosh.
Many companies now have employees put names on quality control tags, or sign their work.
4. Give advancement priority to initiative versus experience.
“Time-in-grade” and years of long hours are not qualifications to become an owner. Hiring, recognition, and promotion must foster a culture of focus on job results, commitment, and growth. This is the key leveler between the multiple age generations in the workplace.
5. Provide employee feedback and coaching in real time.
In this context you can describe specific behaviors that must change, and provide your actual examples so the team member can “step into” the past scenarios.
Avoid any hearsay or anonymous sources, since these are likely not entirely accurate, and will provoke emotional debates.
6. Flatten the hierarchical management structure.
Every owner reports to someone (Board of Directors), but every level inserted reduces autonomy and the sense of ownership. Minimize traditional organizational charts, and special perks, like corner offices and fancy furniture.
This allows employees to feel more equal, and interact with leaders and role models for better communication, recognition, and mentoring.
7. Fix mismatches and commitment problems quickly.
Make your expectations clear before hiring, including your ownership culture. Then, some companies, including Amazon and Zappos, offer employees up to $5000 to leave, if either side doesn’t feel an ongoing commitment to the business. No commitment is a big job performance problem.
I’m still convinced that the best advice I can give to anyone starting their career, or starting their company, is to find something that drives you to work as hard as you can, and still enjoy it. Stay humble, but don’t be afraid to take a risk and own it.
As a business owner, if you want people to take ownership with you, treat them like owners. That’s how you get where you want to go.
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Help Your Team Members Succeed (Especially When They're Tempted to Leave) Help that valued employee being lured by another opportunity think through what they are..
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Sep 28, 2018Avoid Toxic Team Members
Are You Hiring a 'Team' Player -- or Someone Just Looking out for No. 1? How can leaders make sure they're not unwittingly inviting a..
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Sep 21, 2018What Motivates You to…
What Motivates You to Work? That paycheck will never be big enough if it's the only reason you're going to work. Each of us respond..
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Sep 14, 2018Update Your Resume
Updating Your Résumé Might Mean Updating Yourself It seems like a total no-brainer: you should update your résumé and online profiles when you are job..
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Sep 7, 2018Tap Into Your Motivation!
Putting Yourself In Drive: How To Tap Into Your Motivation The one common component in every great success story is motivation: an ever-elusive elixir that..
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Aug 31, 2018Enhancing your job search
How To Bounce Back When The Job Search Gets You Down With a dream job in mind, an updated résumé in hand and responses to..
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Aug 17, 2018Social media can cost…
When 'What Happens In Vegas' Ends Up In Your Job Search What happens in Vegas really doesn’t stay there. That “funny” picture about that..
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Aug 10, 2018Avoid Summer Slump
How To Improve Productivity For Yourself And Your Team This Summer July and August are historically bad months for productivity. It might be the warm..
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Aug 3, 2018Emotional Intelligence at Workplace
How To Develop More Emotionally Intelligent Employees In the quest to develop leaders who will foster a culture of equity and inclusion in the workplace,..
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Jul 20, 2018Rewarding Employees Wisely
5 Ways to Reward Employees When Raises Aren't an Option Many workers are doing double duty these days because employers either can’t afford to hire..
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Jul 6, 2018Hiring the right people?
5 Steps to Hiring the Right People for Your Business "Hire slow, fire fast" is great advice, but it's not always easy to follow. The..
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Jun 29, 2018Ready for Entrepreneurial Success?
4 Entry-Level Jobs That Will Prep You for Entrepreneurial Success Success is a journey, not a destination, so think hard about where to start. Entrepreneurship..
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Jun 8, 2018Back On Track
How to get back on track when you’re having an unproductive day A rocky start shouldn’t dictate your entire workday. Do these things to reverse..
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Jun 1, 2018Value of Office Communication
Why Office Communication is Highly Valued and Often Ignored A huge number of employees don't trust their bosses, and it's not hard to figure out..
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May 25, 2018Impacts of High Turnover
The Negative Impacts of a High Turnover Rate High turnover rates can negatively affect a company and its employees in many ways. With the constant..
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May 11, 2018Employee Onboarding Strategies
Seven New Onboarding Strategies You'll See This Year According to a study from Equifax, more than half of all employees who left their job in..
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May 4, 2018Strategic Workforce Tools
Your Workforce Tools Are More Strategic Than You Might Think This is not a typical article about attracting talented job candidates or retention — while..
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Apr 20, 2018Engagement Strategy
Don’t Let ‘Meaning’ Be Missing From Your Engagement Strategy Meaning is one of the five keys in building employee engagement and it may be the..
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Apr 5, 2018Inclusion in the Workplace
Inclusion Doesn’t Mean Including Everything and Everyone Inclusiveness is not about thought policing. It’s also not about turning everyone into a liberal. It’s a normal..
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Mar 30, 2018Inspire Change In Your…
4 Ways To Inspire Change In Your Employees Have you ever listened to a speech that inspired you so much, you were ready to make..
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Mar 16, 2018Don’t Shuffle People Into…
Don't Shuffle People Into the Wrong Job Just Because They're Already on the Payroll You grow your company by putting proven performers where you need..
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Feb 26, 2018Minimise Workplace Negativity
Tips for Minimizing Workplace Negativity To Deal with Negativity in the Workplace, Use These 9 Tips Nothing affects employee morale more insidiously than persistent workplace..
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Feb 16, 2018Fail at Switching Jobs?
This Is the No. 1 Reason Why People Fail at Switching Jobs (and What to Do About It) There's a reason changing careers is so..
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Feb 9, 2018The future Workspace
Why a Coffee Shop Will Probably Be Your Workspace Within 10 Years As the gig economy grows, there are both social and scientific reasons why..
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Feb 2, 2018A Technique To Get…
Didn't Get Your Dream Job? This 1 Technique Could Get You a Second Chance Every job seeker experiences this at least once, if not several..
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Jan 26, 2018Prepare new employees for…
The Best Way to Set New Employees Up for Success Create an onboarding program that's both meaningful and memorable Congratulations; you've just hired a terrific..
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Jan 19, 2018First Hour, Day, Week,…
Do This In Your First Hour, Day, Week, And Month Of Your New Job Getting settled into your new job is the ultimate act of..
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Jan 5, 20187 Ways Modest Leadership…
7 Ways Modest Leadership Increases Team Success When we imagine the traits of successful leaders, whether they are managers, high level executives, CEO's or owners..
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Dec 29, 2017Grateful Workplaces and Engaged…
Grateful Workplaces and Engaged Employees All leaders need to ask themselves why happy and engaged employees are worth their weight in gold. If you’re a..
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Dec 15, 2017Employee stress during Christmas
Managing employee stress during the festive period More than half of employees feel stressed in the weeks leading up to Christmas, with most calling for..
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Dec 1, 2017Appreciating your employees
How to Avoid the No. 1 Reason People Leave Their Jobs William James, the father of psychology, stated that the most fundamental psychological need is..
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Nov 17, 2017Employee Appraisals
Importance of Effective Employee Appraisals The performance appraisal may be one of the few times during the year where an employee and the reviewer, typically..
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Nov 2, 2017The workplace is changing
From Cubicle To Coffee Shop - How The Workplace As We Know It Is Changing In the past few years we have seen a major..
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Oct 13, 2017Working for small companies
Why You Should Consider Working For A Small Company Eighty-four percent of small-business employees are happy in their current job, according to the 2017 Aflac..
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Oct 6, 2017HR’s key role in…
HR's key role in enlightened office design HR magazine and Landid's roundtable on the workspace of tomorrow explored how HR can positively influence facilities management..
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Sep 22, 2017Workplaces still hamper productivity
Workplaces still hamper productivity Noise, lack of privacy and space are some of the factors causing the greatest dissatisfaction among office workers Nearly half of..
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Sep 15, 2017Lost your Job?
Nine Things You Should and Shouldn't Do If You Lose Your Job Most of us wouldn’t think to associate the words "joblessness" and "fun," but..
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Aug 25, 2017Top 10 Benefits Of…
Top 10 Benefits Of A Workplace Wellness Program When Google opened up in the 90s it took a unique approach to employee satisfaction. In an..
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Aug 16, 2017Write your first CV
It's all about potential: how to write a CV with no work experience Follow these tips to stand out among competing candidates – from research..
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Aug 4, 2017Is it time to…
The Best Ways to Reward Employees. Having an effective reward program in place can help solve many of your HR issues. Every company needs a..
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Jul 28, 2017Burnout: exhausted or lonely?
Burnout at Work Isn’t Just About Exhaustion. It’s Also About Loneliness More and more people are feeling tired and lonely at work. In analyzing the..
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Jul 21, 2017People don’t take HR…
People Don’t Take HR Seriously; Here’s Why That’s Dangerous Legacy beliefs like being the bad guy and a lack of strategic vision isolates HR, and..
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Jun 30, 2017Career Development
Think Strategically About Your Career Development In a world where the average employee sends and receives 122 emails per day and attends an average of..
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Jun 16, 2017Diversity and Inclusion
Diversity Doesn’t Stick Without Inclusion Leaders have long recognized that a diverse workforce of women, people of color, and LGBT individuals confers a competitive edge..
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Jun 2, 2017Advance Your Career
How To Advance Your Career In A Crappy Entry-Level Job Yes, you can still bring yourself one step closer to snagging that dream job even..
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May 2, 2017Employee Burnout
What causes burnout and how it can affect both the employees and the organisation How HR Can Help Prevent Employee Burnout An engaged workforce. It's..