Ownership culture
Building employee commitment
James Clark, a young management graduate, with five years experience joined Andrew & Co., a Texas based business consulting firm as a senior consultant. He worked hard to maintain his rank among the “top fifteen” of the company. His exuberance was not limited to his job per se, he always had some brilliant ideas brewing in his mind for boosting business performance. Then came an opportunity that put to test James’ business acumen and sure enough he cracked it. Despite the apprehensions of all the senior managers, James took up the task of setting up a USD 2million business consulting unit. Not only was he successful in doing so, but he also managed to create an alliance with one of the largest business houses.
Similarly, Jess Watson, a project manager in a leading software firm, spent some sleepless nights working on a client’s urgent requirements. The assignment could have been outsourced to experts, but Jess took up the challenge, since he had initially worked out the project modalities. His dedication saw him through and the client was highly impressed with the work.
What motivates performers like James and Jess to go beyond the call of duty and demonstrate commitment to such a great extent?
Undeniably, such performers have an inherent inclination for hard work and commitment. However, that is not all. “Organisational upbringing” too plays a major role. It is the effort that a company’s management puts in developing qualities like leadership and a sense of ownership among employees that determines the commitment level of employees. Organisations that build an “ownership culture” where every employee equally shares failures and success have an effective organisational developmental technology.
The ownership culture facilitates business development by focusing on customers and breeding entrepreneurial spirit among employees. It also emphasises teamwork and empowerment both critical to crystallising business vision.
Franchising
Experts recommend internal franchise for effectively implementing the ownership culture. Internal franchise is not a contract but an understanding with the employees regarding the company’s culture and vision. Having communicated the basics of the ownership culture and business goals, the management passes the organisation’s operating model to employees.
The fundamental challenges involved thereof include:
Focus on how to do rather than what to do
Providing employees with newer opportunities
Satiating the need of the “knowledge” workers
This apart, the ownership culture is built on a strong foundation of certain beliefs. These include belief in the leader, the objective, the business model, employee empowerment and a commensurate reward system.
With a belief in the organisation’s operating model and a feeling of empowerment, employees develop an “ownership” attitude that offers tremendous value proposition for dealing with varied degrees of business challenges.
Breeding the ownership culture
Corporate culture in an organisation serves as the guiding principle for all actions within the organisation. Organisations that emulate the ownership culture need to follow the underlying principle of: what is good for business is good for the entrepreneur. Hence, when each employee acts like an entrepreneur, the most logical outcome would be enhanced business performance!
Today’s dynamic corporate world reinforces the relevance of ownership culture, where change is the operational mantra. Employees who appreciate the flexibility parameter are quick to change gears as per the requirement. Hence, when the organisation as a whole feels responsible and empowered, customer needs is the primary focus making the business a success. Such a culture also serves as a brand ambassador for the company, attracting the right talent, not for financial benefits but for the intangibles.
This apart, the company’s hiring strategy needs to be altered since the ownership culture calls for a workforce that has an entrepreneurial outlook giving the company a significant competitive advantage.
The culture building mantras!
The ownership culture stands on two pillars –
The pillar of TRUST
Teaching employees the business model
Rewarding employees based on business and individual performance
Unconditional support
Sharing information thereby building a transparent system
Trustworthiness
COACH representing
Communication
Overseeing teamwork
Aligning business objectives
Creating leaders
Higher purpose
Rooting the ownership culture
The ownership culture is characterised by a high degree of accountability and initiative on the part of employees. Besides, the Key Management Indicators (KMI) also show signs of culture rooting. The intersection of KMIs determines the real degree of performance improvement. Having measured the degree of improvement, it is important to map the signs of improvement in line with the KMIs, thus facilitating the identification of initiatives to be taken.
Having established an ownership culture, the management must continuously update employees about the happenings in the organisation, giving them total control and helping them put positive energy in the right direction.
To keep it going
Organisations need to focus on attracting and retaining their entrepreneurial talent. For successfully doing so, companies need to concentrate and leverage the intangible aspects of working in the organisation and devise strategies to remain an employer of choice. What better strategy than practicing the ownership culture!
Building employee commitment
James Clark, a young management graduate, with five years experience joined Andrew & Co., a Texas based business consulting firm as a senior consultant. He worked hard to maintain his rank among the “top fifteen” of the company. His exuberance was not limited to his job per se, he always had some brilliant ideas brewing in his mind for boosting business performance. Then came an opportunity that put to test James’ business acumen and sure enough he cracked it. Despite the apprehensions of all the senior managers, James took up the task of setting up a USD 2million business consulting unit. Not only was he successful in doing so, but he also managed to create an alliance with one of the largest business houses.
Similarly, Jess Watson, a project manager in a leading software firm, spent some sleepless nights working on a client’s urgent requirements. The assignment could have been outsourced to experts, but Jess took up the challenge, since he had initially worked out the project modalities. His dedication saw him through and the client was highly impressed with the work.
What motivates performers like James and Jess to go beyond the call of duty and demonstrate commitment to such a great extent?
Undeniably, such performers have an inherent inclination for hard work and commitment. However, that is not all. “Organisational upbringing” too plays a major role. It is the effort that a company’s management puts in developing qualities like leadership and a sense of ownership among employees that determines the commitment level of employees. Organisations that build an “ownership culture” where every employee equally shares failures and success have an effective organisational developmental technology.
The ownership culture facilitates business development by focusing on customers and breeding entrepreneurial spirit among employees. It also emphasises teamwork and empowerment both critical to crystallising business vision.
Franchising
Experts recommend internal franchise for effectively implementing the ownership culture. Internal franchise is not a contract but an understanding with the employees regarding the company’s culture and vision. Having communicated the basics of the ownership culture and business goals, the management passes the organisation’s operating model to employees.
The fundamental challenges involved thereof include:
Focus on how to do rather than what to do
Providing employees with newer opportunities
Satiating the need of the “knowledge” workers
This apart, the ownership culture is built on a strong foundation of certain beliefs. These include belief in the leader, the objective, the business model, employee empowerment and a commensurate reward system.
With a belief in the organisation’s operating model and a feeling of empowerment, employees develop an “ownership” attitude that offers tremendous value proposition for dealing with varied degrees of business challenges.
Breeding the ownership culture
Corporate culture in an organisation serves as the guiding principle for all actions within the organisation. Organisations that emulate the ownership culture need to follow the underlying principle of: what is good for business is good for the entrepreneur. Hence, when each employee acts like an entrepreneur, the most logical outcome would be enhanced business performance!
Today’s dynamic corporate world reinforces the relevance of ownership culture, where change is the operational mantra. Employees who appreciate the flexibility parameter are quick to change gears as per the requirement. Hence, when the organisation as a whole feels responsible and empowered, customer needs is the primary focus making the business a success. Such a culture also serves as a brand ambassador for the company, attracting the right talent, not for financial benefits but for the intangibles.
This apart, the company’s hiring strategy needs to be altered since the ownership culture calls for a workforce that has an entrepreneurial outlook giving the company a significant competitive advantage.
The culture building mantras!
The ownership culture stands on two pillars –
The pillar of TRUST
Teaching employees the business model
Rewarding employees based on business and individual performance
Unconditional support
Sharing information thereby building a transparent system
Trustworthiness
COACH representing
Communication
Overseeing teamwork
Aligning business objectives
Creating leaders
Higher purpose
Rooting the ownership culture
The ownership culture is characterised by a high degree of accountability and initiative on the part of employees. Besides, the Key Management Indicators (KMI) also show signs of culture rooting. The intersection of KMIs determines the real degree of performance improvement. Having measured the degree of improvement, it is important to map the signs of improvement in line with the KMIs, thus facilitating the identification of initiatives to be taken.
Having established an ownership culture, the management must continuously update employees about the happenings in the organisation, giving them total control and helping them put positive energy in the right direction.
To keep it going
Organisations need to focus on attracting and retaining their entrepreneurial talent. For successfully doing so, companies need to concentrate and leverage the intangible aspects of working in the organisation and devise strategies to remain an employer of choice. What better strategy than practicing the ownership culture!