Creating An Ownership Culture In The Workplace

By JUSTIN NABITY
For AdvisorNews

Office work can be dull and uninteresting, but it doesn’t have to be. If you can encourage the unique passions, goals and skills of each individual in your company, you can create a work place that is just as dynamic as its people. One of the ways I’ve found to best grow and encourage my employees is by instituting a culture of ownership.

The idea behind an ownership culture is that employees have a sense of ownership over their work and feel they have a valued role in the business. If you want your team to approach their work as more than just a job, you have to treat them as more than just employees. An easy way to foster an ownership culture is by rewarding and motivating employees to meet personal improvement goals. I’ve established a Mind, Body, Soul Program that helps employees cultivate their best selves and, in turn, feel they are a valuable asset to my business. By encouraging the unique passions, goals and skills of each individual in your company, it’s possible to create a workplace that is just as dynamic as the people in it.

Reward Employee Personal Improvement

The Mind, Body, Soul Program is a three-pronged approach to personal improvement and one you can easily implement in your office. The first part of the program centers on professional improvement. The specifics of your rewards program can vary, for example I offer a bonus for time spent on an activity that enhances their work performance. This could be anything from listening to a business podcast to reading a book about the history of their industry. Activities like these will broaden your employees’ perspectives about their work and give them new and valuable tools to implement.

Along those same lines, reward your employees the same amount for exercising. They could train for a half-marathon or simply use their elliptical more often than they currently do. For example, one of our team members traveled to France to participate in the Paris marathon after recommitting to her running routine. Either way, it will help incentivize employees to create an exercise routine that works for them. Healthy, happy employees will lead to a better work environment and higher productivity.

Reward employees for time spent on spiritual wellness as well. This could include prayer, religious services or meditation. One of my employees started a personal meditation practice after reading the book 10% Happier. Anything that fosters a personal sense of peace, purpose and spiritual health will help provide your employees a centered foundation.

Invest And Support

At the end of each quarter, ask your employees to self-report their hours spent on personal improvement. Then, establish a time for them to meet with your program’s wellness coordinator to review their activities, discuss their future goals and receive their payout.

While the specifics of your rewards program can vary, it’s not the dollar amount that actually matters. Instead, it’s demonstrating that you value your employees’ quality of life as well as support their endeavors both inside and outside the office.

The Payoffs: Personal And Professional

Ownership culture is about mutual benefits. When your employees feel their personal interests are seen and valued at work, they’ll be more likely to bond over book recommendations or fitness goals than day-to-day stressors. You reap the benefit of higher productivity, lower turnover rate and healthcare costs, and improved workplace morale.

At the end of the day, people who are curious, creative and motivated in their personal lives will bring those qualities to work with them each day. Invest as much in your team as you do in your clients, and you’ll create a team that is dedicated to caring for themselves, one another and their work.

 Justin Nabity is the CEO and founder of Physicians Thrive, a financial advisory group for medical professionals. Justin is a six-year MDRT member and lives in Omaha, Nebraska. He may be contacted at justin@physiciansthrive.com.