Building an ownership culture begins with defining and communicating organizational purpose and values, tying them to your performance management process, and rewarding employees for their contributions. Building a People Strategy around your ideal culture will generate change.
Are your employees challenging you by feeling they are entitled to make decisions above their pay grade? Decisions outside the scope of their role? Feeling the need to “approve” peer compensation?
While these may seem like extreme examples, if you lose control of the message, this could become your reality. Management is still in control with an ESOP (employee stock ownership plan). Organizations still have an organization chart with positions and people identified to fill key roles. An employee ownership culture encourages empowerment and engagement but managing expectations is important to keep a healthy culture.
Hiring a new leader to join your employee ownership culture? I was recently speaking with a human resources manager compiling a job specification for a senior manager succession plan she needed to fill due to a pending retirement. As we began discussing the transition, a thoughtful dialogue on what leadership looked like in an employee-owned culture soon became the focus. Here are some key attributes we came up with.