TRANSFORMING EMPLOYEES INTO STAKEHOLDERS

Linus Okorie shares thoughts on how to shift from viewing employees merely as workers to recognising them as stakeholders in the organisation’s success

In today’s competitive business landscape, achieving specific goals is not just the result of leadership decisions; it’s also about every individual within the organization taking ownership of their roles and responsibilities. Whether you’re a young professional looking to excel in your career, a business leader striving to penetrate or enter a new market, or a recruiter seeking to hire top talent, understanding the power of ownership mentality is essential.

A Paradigm Shift: From Employee to Stakeholder. Traditionally, the employer-employee relationship has been transactional: the company provides salary, benefits, and job security, while the employees often perceive their roles as narrowly defined tasks to be completed within the confines of their job descriptions. They may lack a sense of ownership or personal investment in the outcomes of their work beyond fulfilling their immediate responsibilities. As a result, motivation, innovation, and discretionary effort may be stifled, leading to decreased productivity and morale within the workforce. Furthermore, in a rapidly changing business environment characterized by technological advancements, globalization, and shifting consumer preferences, organizations face increasing pressure to adapt and innovate to remain competitive. The transactional nature of the traditional employer-employee relationship does not provide the agility and flexibility needed to navigate these complexities effectively. Employees feel disconnected from the organization’s goals and strategies just because they are working one day at a time, hindering their ability to contribute meaningfully to the company’s success. In response to these challenges, a paradigm shift is needed—a shift from viewing employees merely as workers to recognizing them as stakeholders in the organization’s success. While  numerous strategies and approaches exist to achieve these goals, one of the most powerful yet often overlooked factors is the cultivation of an ownership mentality among employees and team members. What exactly does it mean to foster an ownership mentality within a workforce? This involves instilling a sense of accountability, responsibility, and pride in one’s work and the overall success of the organization. When employees adopt an ownership mindset, they no longer view their roles as mere tasks to be completed and just taking directives from management but as integral contributors to the company’s mission and vision with their unique skills and insights. They take initiative, make informed decisions, and proactively seek opportunities to add value.

 Transforming Employees into Stakeholders. Now that we understand the importance of ownership mentality, let’s explore how both employers and employees can unlock its potential. Employers play a critical role in fostering an ownership mentality within their organization. Cultivating a culture where employees feel empowered, engaged, and accountable requires deliberate effort and commitment from leadership. One, Empower Employees: Empower employees to make decisions, take initiative, and innovate in their roles. Provide them with the autonomy and authority to solve problems, explore new ideas, and implement changes that drive positive outcomes. When employees feel empowered to make meaningful contributions, they are more invested in the success of the organization. Two, Promote Accountability: Set clear expectations and goals for employees, and hold them accountable for their performance. Provide regular feedback, both positive and constructive, to help employees understand how their actions impact the organization. Encourage a culture where individuals take ownership of their actions, admit mistakes, and learn from them to continuously improve.

 Three, Provide Opportunities for Growth and Development: Invest in employees’ professional development by providing training, mentorship, and career advancement opportunities. Support employees in acquiring new skills, expanding their knowledge base, and pursuing their career goals within the organization. When employees feel valued and supported in their growth, they are more likely to take ownership of their careers and contributions. Four, Promote Open Communication: Foster open and transparent communication throughout the organization. Encourage employees to share their ideas, concerns, and feedback openly and honestly. Listen actively to employee input, address their concerns, and involve them in decision-making processes that affect their work. Open communication builds trust, promotes engagement, and reinforces a sense of ownership among employees.

Five, Align Incentives with Ownership Behaviors: Ensure that performance incentives, rewards, and recognition programs are aligned with ownership behaviours and organizational goals. Tie rewards and incentives to individual and team performance metrics that reflect ownership, accountability, and contributions to the organization’s success. This reinforces the importance of ownership and provides employees with tangible incentives to demonstrate these behaviours.

 Employees play a crucial role in fostering an ownership mentality within their organization. While leadership sets the tone and provides the framework for cultivating such a mindset, employees themselves can actively contribute to creating a culture where ownership is valued and encouraged. One, Take Initiative: Instead of waiting for instructions or directives, take the initiative to identify areas for improvement, solve problems, and propose innovative solutions. Proactive behaviour demonstrates a sense of ownership and commitment to the organization’s goals. Two, Set High Standards: Strive for excellence in everything you do. Set high standards for your work quality, efficiency, and professionalism. By consistently delivering high-quality results, you demonstrate your commitment to achieving excellence and adding value to the organization. Three, Embrace Accountability: Take ownership of your actions and decisions. Acknowledge mistakes, learn from them, and take proactive steps to rectify any errors or shortcomings. By holding yourself accountable for your performance, you set a positive example for your colleagues and contribute to a culture of accountability within the organization. Four, Seek Growth and Development: Take ownership of your professional development by seeking out opportunities for learning, skill enhancement, and career advancement. Attend training sessions, pursue certifications, and seek feedback to continuously improve your skills and capabilities. A commitment to personal growth demonstrates your dedication to contributing meaningfully to the organization’s success. Five, Stay Committed: Cultivating an ownership mentality is an ongoing process that requires commitment and perseverance. Stay committed to demonstrating ownership in your work, supporting your colleagues, and contributing to a positive work culture, even in the face of challenges or setbacks. Your consistent efforts will contribute to the overall success of the organization and inspire others to do the same. As leaders, it is our responsibility to cultivate an environment where every employee feels valued, empowered, and motivated to take ownership of their work and contribute to the organization’s success. The power of ownership is not just about transforming employees into stakeholders; it’s about unlocking their potential to drive innovation, collaboration, and excellence in everything they do.

Okorie, MFR, is a leadership development expert spanning 27 years in the research, teaching and coaching of leadership in Africa and across the world. He is the CEO of the GOTNI Leadership Centre. www.gotni.africa, linus.okorie@gotni.africa