Have you ever heard an employee or executive talk about their employee owned company? Most employees at employee owned companies will go on and on about their amazing culture, how long they have worked there or how the stock price keeps going up. To become a good employee owned company it takes time, effort and dedication to a bigger cause than each individual employee owner. So is there a “secret sauce” to creating and keeping employee ownership strong and enduring? Yes!
Culture
Employee ownership is a mentality, and should be embraced, both in employee owners work and personal lives. Employee ownership isn’t just a stock certificate; it’s the way everyone approaches work, the way employee owners do what’s best for their company in everyday situations, and the way they live their lives. They own their daily work. They own their careers. They own their company.
Empowerment
A strong employee ownership culture is one of empowerment. It will be a large part of what makes each employee owned company special. Everyone is valued, as are their individual skills, strengths, and opinions. As employee owners, they are empowered and encouraged to act in ways that can impact the company—bringing individual skills to the table to make things happen.
Leadership
Leadership and employee ownership go hand-in-hand. If company leadership lives and breathes employee ownership, they will be walking, talking examples of what the company culture is all about. Good succession planning will help perpetuate a strong employee ownership culture.
Celebration
Education
Education about employee ownership can happen through company sponsored webinars, newsletters and training sessions. But probably the most important education extends through company leaders, who are all well-versed in the power and benefits of employee ownership, and fellow employee owners, who can help their colleagues thrive and be empowered to make a positive impact to the company.
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