When on job, employees are required to be highly productive and perform to the best of their employer’s expectations and capabilities. Highly competitive fast-paced business environment require employees to be consistent performers.
Most employers would completely agree with the fact that higher levels of happiness and employee engagement at work can drive significant business returns and maximised productivity outputs. Rewards and recognition, appealing benefits, flexible working hours, work-life balance support system and regular raise are some of the current benefit trends which are important to employees.
However, most employers fail to entrust employees with a sense of responsibility and ownership towards the job role, which will help foster collaboration at work for maximised productivity. When employees feel a sense of ownership towards the duties they are suppose to perform, they tend to become better performers at work.
A 2015 study by Md. Hassan Jafri, lecturer of Gaedu College of Business Studies, Royal University of Bhutan reveals that employee’s sense of ownership has positive and significant influence on employee’s work performance.
Sense of ownership brings about many significant benefits for both companies and their workforce. Employees with higher sense of ownership towards the job role, view the workplace as an extension to their family and perform duties as important part of their lives. Both personal and professional lives are integrated, equally important for their brighter future and investment.
Great employers who encourage sense of ownership in their employees, make them stay longer with the company, love their regular job and duties, and sometimes even walk an extra mile to broaden their skillsets, expertise and experience.
As a result, employees do not just perform productively and are engaged, but they also initiate ideas to allow room for innovation that drives company’s overall success. Here are 5 ways to build sense of ownership in your employees, that companies can adopt:
Allow for mistakes. Everybody makes mistakes and learns from them. Hence, employers should provide room for improvement with timely feedback to employees on their performance. Companies might require many trials and errors, to find the right marketplace, customers and get the company branding right. So is the case with employees, who make mistakes in their regular functioning and learn from them.
To gain higher sense of ownership, companies should create a secure working environment that allows some room for mistakes or errors, as long as it does not impact business, creates significant loss and disrupts the working environment.
Be open to erring, such that employees will not hesitate to experiment and innovate with new ideas and concepts at work.
Clarify where things are headed. Transparency is one crucial thing that needs to be maintained and achieved for employees to get higher sense of ownership towards their job role and company.
Employers should hold open and honest dialogue with their employees about the business’ condition, deliver both good or bad news to all people involved into smooth workings of the business, and even communicate challenges or opportunities to be faced ahead.
This transparent approach of working will drive employees to take responsibility for their actions, resolve issues that impact business workings and develop new strategies for the business to gain a competitive edge.
Allow employees to speak up. Employers should encourage workers to share their opinions, ideas and solutions towards issues hampering productivity and affecting their daily work life.
Involving them in a productive discussion to take up greater job roles would make them feel appreciated and create sense of ownership towards their companies.
Illustrate benefits beyond money. It is easy to see short-term benefits work quickly in a company such as paychecks, employee benefits, allowance, incentives and more.
However, employers should allow employees to seek long-term benefits and investment proposition associated with the job role such as opportunities for self-development, gain significant industry knowledge and experience, hone expertise skillsets and more.
Show respect. Regardless of the time and amount of efforts invested by an employee into a job, they need to be ultimately respected by the company for the job role they perform and wherever they stand.
Equality and fairness in a diverse workplace culture will lead to higher engagement, productivity and sense of ownership at work.
Creating sense of ownership in employees is not easy, however once the employee showcases signs of loyalty, commitment and dedication towards the job role, the company would benefit from increased profit revenues.
In this highly competitive business era, employees are only focused on the ‘give’ and ‘take’ approaches to working. Higher sense of ownership when infused into the workplace culture, will help businesses thrive successfully with sincerity and commitment to excellence.
Next read: How to Manage Conflicts among Employees?