“With great power comes great responsibility.” — Voltaire
The true growth and success of a business is no longer confined to the hard work of its founders; but rather the collaborative effort of a team harmoniously working together towards the same goal.
High performing organizations rely on four main factors; employee engagement and motivation, employee productivity, company growth, and cultivating a culture that’s built on ownership and accountability. A culture of ownership means giving your employees the chance to take initiative, solve their problems, and demonstrate their leadership skills.
While challenging to adopt – especially for early-stage businesses – a culture of ownership has the power to not only create future leaders, but also achieve business success, drive growth, results, and profitability. Looking to create a work culture where your team is empowered to take charge and do great work? Here’s how to foster an effective culture of ownership in your company.
1- Boost autonomy in the workplace
Autonomy is the act of putting faith in your employees and trusting that they can take matters into their own hands. When employees are given the opportunity to take initiative and responsibility for their own work without micromanagement, it allows them to get creative, empowers them to drive real change, and ultimately improves the entire organization’s processes and practices.
2- Align employees’ goals with company goals
It is important for employees to fully understand how their work ties to a bigger objective. This gives them a sense of purpose that their work matters and contributes to the organization’s success. However, it is crucial here to set achievable and realistic goals for your employees to work towards. Ambiguous goals can distract them, destroy their morale and productivity, and affect the overall performance of the company.
3- Delegate roles of authority
Letting go of control and delegating roles of authority to your employees boost their self-confidence, develop their leadership skills, and increases their sense of ownership and responsibility. Start out by delegating minor roles of authority to your teammates, like taking the lead on an assignment or project. Watch how their level of commitment increases towards their work and organization.
4- Encourage employees’ voices
Giving your employees a voice to express their thoughts, ideas, concerns, and opinions about their work increases their level of innovation and productivity and allows them to think and act like owners. When your employees know their voices aren’t only heard, but actually considered in the decision-making process, they become more empowered to perform their best work. Encourage employees to share their voices through surveys, open meetings, focus groups, suggestion boxes, etc…
5- Incorporate employee recognition
Creating a culture of recognition and rewarding employees for their excellence and hard work boosts their sense of ownership and unlocks their full potential. Acknowledging your employee’s work and dedication increases employee engagement, encourages better teamwok, and enables them to hold positive attitudes toward the organization.
Ownership and accountability are two sides of the same coin. When you offer your employees the opportunity to make their own decisions, take responsibility for how they perform their work, and deliver on everything they own; you are on the path of creating a work environment of high trust and high performance, but above all else, you are planting seeds in tomorrow’s leaders.