Helping employees increase their sense of ownership
Kathmandu We pay for the physical presence of an employee.  If he does the job assigned to him well, we retain him.  But we wish he did more than his job.  We want him to feel that this is his own company and give all he has.  But it doesn’t happen.  Why is it so? Current techniques used to increase employee engagement 1.    Paying handsomely 2.    Sending them to trainings /sponsored programs where owners are invited 3.    Giving them bonus on yearly profits MBO approach Management By Objective (MBO) is a process by which goals and targets are set through a participative approach of owners/ managers and staffs. In this way those expected to get outcomes will take ownership. Banks in Nepal set their budgets and targets using MB0, although many don't know what they do is called MB0. Using TQM Through Total Quality Management (TQM) workers are somehow forced to be engaged by culture of meeting Quality Circles. They have to come up with problems and brainstorm on a solution. That also on a continuous basis. Selling Shares Banks sell shares to their employees. But many are not aware how very smart entrepreneurs are engaging their staff to put in their heart and soul. They sell a portion of their share to the employees by investing themselves. Now they are co-owners, get dividends and they can repay the boss slowly. The owner now loses income but has gained fully engaged staff. Many may now ask, “Is getting employee engagement so expensive?” Benefits of employee engagement 1.    You do not have to come to office and the staff will run the business as if you were in. 2.    They will take personal risks for the betterment of the company. 3.    They will bring to your notice things you could not see but that were mission critical. 4.    They will not work for a salary but for the upliftment of the company. 5.    They will grow and sustain the company as though they owned it. Be a good orator Nothing harnesses allegiance more than a well delivered speech. Sometimes the cheapest way to get employees to display the above behaviours is to give a motivating speech. If it is sincere, the effect will be more long lasting than if it is not so. Many organisational leaders shun giving any form of inspirational speech.  Even in meetings, they will just complete their agendas and go. Some love to talk and hold hostage their whole team for hours.  But that is not a speech, it is a rant. We prescribe a weekly speech to all your employees.  This has more profound impact than any of the above conventional and new techniques of employee engagement from ‘paying more’ to TQM.  Speeches cost nothing yet without them, all other efforts won’t be fruitful. So what to include in such a weekly organisational speech? 1.    Express concern over the welfare of your staff at all levels: in this organisation, in their career, in their personal life. 2.    Show the hardship the company is facing: problems of recent times, emerging negative patterns in the economy. 3.    Give evidence of how you are tackling these problems as the leader as a company. 4.    Invite them to be part of your vision. 5.    Spell your vision clearly, again and again throughout the speech. 6.    Paint the picture of the days when the vision will be fulfilled. 7.    Give evidence that that vision is feasible. 8.    Urge your staff to own the company from their heart. 9.    Compel them emotionally to commit 100 per cent to their assigned jobs and more. 10.   End with images or a metaphor will help staff remember the gist of the speech. After such speeches weekly alongside over conventional methods, you will see dramatic increase in the sense of ownership.  Of course the best is a share of your profits  through incentives, bonus, or even as we mentioned above, stock options. A speech inspires, but money talks! The authors are associated with Growth Sellers Pvt Ltd, which offers services in the areas of HR Management, Business Processes and Organisational systems. They can be reached at info@growthsellers.com