Table of Contents
- The Importance of Ownership
- The Journey of Distributed Ownership
- Driving Change
- Measuring The Success of Ownership
- Maintaining Diversity, Equity, and Inclusion
- The Way Ahead
A team of highly talented individuals who consistently deliver quality work, is the true asset of any organisation. Now, picture a scenario where these self-motivated, driven, and highly talented individuals rely on their superiors to make decisions, are hesitant to voice their opinions, and are scared to think outside the box.
When you expand your business, it becomes imperative to form a hierarchical structure with a well-defined chain of command, connecting multiple management levels within the organisation. Despite clear lines of authority and reporting within the organisation, a complicated chain of command can slow down decision-making processes. Transitioning from a hierarchical structure to one emphasising autonomy is therefore crucial at this point.
The Importance of Ownership
It’s strenuous to build a sustainable business around the philosophy of empowering the team by distributed decision-making, especially for industries with a significant proportion of semi-skilled individuals, large-scale operations, and a high churn. For industries that fall outside of this spectrum, the teams should fall into an ownership structure. There are 2 key aspects to why this structure helps an organisation.
The Journey of Distributed Ownership
One thought that always bothers a founder looking at pushing the growth pedal is – ‘When should distributed ownership begin?’
While distributed ownership can hit the nail on the head in both scenarios, it always is a journey.
Communication is easier with the first hires. Ownership can be distributed to run a small number of projects from start to finish. When the number of individuals in your organisation hits milestones like 50, 100, 150, and so on, distributed ownership should be institutionalised on a grand scale. It should be established as a norm in the organisational structure where every new employee when they join, needs to be taken through the path of knowing their responsibilities, and how taking ownership of a particular project or role will lead them to a prospective track of success.
Driving Change
The Pegs of Transition
When you ask someone which the best company is to work at, and the answer is a company you’re connected to, it feels like a success.
There are 2 major aspects of a cultural shift while transitioning to distributed ownership.
1. If the team is aligned with the organisational goals, it shrinks the task list of the top management significantly. Achieving one overarching goal is easier and it also reduces the need of running around micromanaging the team.
2. The other equally crucial aspect is a shift from a manager-reportee relationship to a mentor-mentee relationship. It helps build a culture where every member of your organisation is eager to come to the office and learn something new.
Measuring The Success of Ownership
Every culture change within an organisation is intended for the best, but only results can testify to its success. KPIs to measure ownership differ from one organisation to the other. The best way to measure ownership is by conducting employee surveys on the culture shift, analyse the data for green and red flags, and make amends accordingly.
When an organisation is undergoing a cultural shift, everyone from the ones leading the change to the ones experiencing it, will have complex responses. As a founder, it’s crucial to refine the data and measure the success of the culture of ownership within the organisation.
Maintaining Diversity, Equity, and Inclusion
With the modern workforce becoming truly global, organisations need to be more open, accepting, and aware of the diverse group of people joining them. Statements like “Yeh wale campus ke hires acche hote hai”, end up forming opinions over time that aren’t based on actual experiences but biases. Communicate and sensitise your team about diversity, equity, and inclusion so they can avoid stereotypes at the workplace. Creating mental barriers for people based on where they come from, or their gender will cause conflicts and diminish employee morale eventually. Hiring a professional to have a conversation around sensitisation in the workplace is the way to go.
The Way Ahead
The Indian economy is built on the back of a talented workforce. The size of an organisation shouldn’t matter if you’re building a culture of distributed ownership. Leaders of small, medium, and large enterprises should move towards giving more autonomy in their organisational structure.
1. Leadership
Ownership is leadership. While an outstanding leader means having countless qualities, no attribute is as formidable as ownership. When a leader projects a sense of ownership, they mirror values of accountability to the team. There should be a balance between giving guidance and providing autonomy, by setting goals and letting go of micromanagement.
2. Communication
A leader’s most powerful tool is communication. Articulating a vision is vital in gaining trust, aligning efforts in pursuit of common goals, and inspiring positive changes. Leaders pursue excellence, but not all ideas have an ideal outcome. Being in sync with the team by maintaining the highest level of communication is important during the transitioning period.
3. Setting up the Right Team
A founder might be the best in what they do. However, even their best efforts will remain unsuccessful without a great team. Most founders dream of having a group of talented individuals who deliver quality that’s exemplary within their industry. The team should be set up in a way that the unique skill set of each team member is utilised optimally. The idea is to have the right reporting and the right team.
An empowered team that exudes ownership, domain knowledge, and decision-making, will drive this country forward.
