It has been one and a half year since Manish and Rahul started their Fintech startup. The journey has been exciting as well as challenging, many joined, few left and several of them are still with them. Giving a feeling of loyalty and togetherness. They now have a workforce of 35 happy employees but somehow they feel that founding team has become bottleneck for all decision making in the company. Talented employees that they hired are dependent on the founders for all big and small decisions. Whereas what they wanted was that employees should take charge of the situation. Take the baton and run the show all by themselves.
Have you faced a similar situation? What could be the reason for the same? This is a reality that several founders go through predominantly due not creating a culture of “Ownership”. By just having able and happy employees “Ownership of work” does not happen. However a workforce which is not only talented but is also committed to their work and greater vision can achieve twice as much as a non-committed workforce. So how do we fix it?
- Give the employees achievable objectives coupled with autonomy. The definition of “achievable” can be different for different people. Understand that and let them have that sense of achievement. Show them the target and let them experiment and innovate to reach the target. And while they are working hard, show empathy and inspire them
- Start with a position of trust. Trust your employees without any doubt. Show the trust by having faith in them. Entrust them with that responsibility of success or failure
- Remind them on how their work is contributing to the organizational big picture. What is the purpose of the daily work they do? Remind them on what’s in it for them as they contribute
Ownership is a tough nut to crack, but when done well the rewards are many folds for any organization.
Try it out and let us know if it worked!