Here’s a quick test. Crumble a piece of paper and toss it in the hallway. Then watch and wait. How many people walk by it before someone picks it up? That’s your ownership culture barometer.
When consultants speak of “building an ownership culture” in ESOP companies, what they really mean is employee engagement.
Do your employees care about the place they work? Employee engagement is the commitment that individuals have to their company. It’s the belief that the company is on the right track, that it values my contributions, and that my work makes a difference.
Whether you call it ownership or engagement, the result is the same: employees who care go the extra mile. They create tangible value for the business. Take a look at the research data:
- Fully engaged employees return 135% of their salary in value–Center for Talent Retention
- Moving from low to high engagement can result in a 21% increase in performance—Corporate Executive Board
- Business units in top quartile of engagement outperform those in bottom quartile:
- 50% higher in productivity
- 44% higher in profitability
- 50% higher in customer satisfaction —Gallup
I think this quote from Simon Sinek underlines the opportunity for ESOP companies: “When people are financially invested, they want a return. When people are emotionally invested, they want to contribute.”
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