THE MENTALITY OF OWNERSHIP THINKING
Helping your employees develop an ownership mentality benefits them and the organization as a whole. Ownership thinking means taking accountability for the quality and success of the outcome of your work. A culture of accountability, where employees are able to make decisions and are encouraged to take ownership is a powerful characteristic of a successful work environment. This takes an emotional and mental commitment—it takes engaged employees. Thinking like an owner with an ownership mentality comes from within a culture that promotes trust, communication, objectivity, and gives employees a stake in the outcome.
TRUST IS EARNED
Trust is a key part of healthy relationships. Relationships between employers, managers, and employees are no different. Employees are more likely to be engaged if they believe they can trust the leadership of the organization and understand how their contributions impact the success of the company. Empowering employees to think like owners helps develop this trust and understanding. An environment of trust has no surprises—plans, business objectives, and goals, and financial results are discussed and shared at all levels.
COMMUNICATION IS KEY
Whether it’s through meetings, instructions, reviews, or handbooks, employees need good communication of what is expected of them. When employees understand their role within the organization everything flows more smoothly. Effective, honest communication can bind employees together and maintain engagement within the organization.
At the same time, fair and balanced criteria for making decisions also promotes positive employee engagement. When thinking like an owner everyone is more likely on the same page and focused on the same goal. Objectivity is not a lack of concern or care for employees in the organization. Instead, it allows leaders to facilitate factual and sound decisions; this helps employees develop the same habits in making decisions that affect the company. Making decisions and staying engaged in the business is a constructive environment for success.
Success promotes healthy accountability and teamwork. In order for an individual or a team to be held accountable for their decisions, they need to have the appropriate information. This starts with transparency about the strategic decisions that are being made. When information is shared and everyone is vested, then successes and failures are also shared.
Are your employees in an ownership mindset? Are you giving them the tools they need to get there?
Take steps to engage your employees and start teaching them how to think like owners. When they start to think like owners and you start to develop this mindset in your culture, you will see a noticeable difference in your success as a company.