It’s an insidious disease that is crippling companies, destroying our economy, and crushing potential. It’s infecting the very roots of business performance, and it’s spreading fast. It isn’t the recession, market volatility, scandal, or greed.
It’s entitlement.
And it may be killing your business.
In myriad ways, entitlement has been cultivated for decades. As a result, too many employees today believe that they are entitled to a paycheck simply because they show up. Brad Hams has proven that we are not doomed to a path of entitlement and dependence. After more than 15 years working with hundreds of companies, he knows that the vast majority of employees addicted to entitlement actually want to engage, want to contribute, and feel much better about themselves when they are in an environment that requires them to do so.
Now, with Ownership Thinking, Hams shares his strategy that will increase your company’s productivity, employee retention, and profitability:
- The Right Education: Teach employees the fundamentals of business and finance, how their company makes money, and how they add—or take away—value.
- The Right Measures: Identify the organization’s Key Performance Indicators and teach employees to forecast results in an environment of high visibility and accountability.
- The Right Incentives: Create incentive plans that are self-funding and clearly align employees’ behavior to the organization’s business and financial objectives.
Your employees will learn to think and act like owners and will become active participants in the financial performance of the business. They will gain the self-esteem that is only possible through achievement and will reap rewards that are in alignment with the success of their organization. Meanwhile, you will enjoy your role more, sleep better at night, and leave a legacy that is far more inspiring and significant than you dreamed possible.
Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit | Brad Hams (Author)| McGraw-Hill Education
Table of Contents
INTRODUCTION: This Is Not Your Typical Business Book
CHAPTER 1: Why Ownership Thinking Is Desperately Needed
How Owners and Employees Think, Entitlement, The Good News, The Paradox of Altruism, Common Characteristics of Great Companies, People, The Financial Benefits of Ownership Thinking, Share the Insomnia.
CHAPTER 2: How to Create Incentive Plans . . . That Work!
An Incentive Plan Must Be Self-Funding, Elements of Poorly Designed Incentive Plans, Elements of Well-Designed Incentive Plans, Designing Your Plan, Stock Appreciation Rights, The Argument Against Incentive Plans.
CHAPTER 3: Your Employees Think You Make Wheelbarrows of Money
Advanced Financial Acumen
CHAPTER 4: Measure Through the Windshield, Not the Rearview Mirror
Why Financial Statements Are Not Enough, Examples of Key Performance Indicators, How to Identify Your Key Performance Indicators, The Key Indicator Workshop, Creating the Scoreboard, Utilizing the Scoreboard, Huddle Guidelines, KPIs from Various Industries, Departmental, Business Unit, and Location Scoreboards.
CHAPTER 5: Get RIP’d: Rapid Improvement Plans
RIP Case Study, RIP Example 1: No More Tears, RIP Example 2: The Big Green Cash Cow, RIP Example 3: Wash Away Warranty Work, RIP Example 4: Grand Slam, RIP Example 5: Yabba Dabba Doo, RIP Example 6: Surf and Turf, RIP Example 7: Double Your Pleasure, Double Your Fun, RIPs in Action: Mercedes Medical, RIP Tips
CHAPTER 6: Employee Stock Ownership Plans (ESOPs): Do Ownership Thinkers Have to Own?
Technical Aspects of ESOPs, Cultural Considerations of ESOPs, Final Thoughts on ESOPs.
CHAPTER 7: Ownership Thinking for the Long Term
The Adult Contract, Creating an Ownership Thinking Steering Committee, The Role of the CEO, Mission-Driven and Not-For-Profit Organization, Multilocation Organizations, Dealing with Poor Performing Individuals, Departments, or Business Units, Tapping Into the Ownership Thinking Community, The Importance of Moving to Mexico.
CLOSING THOUGHTS
FURTHER READING
INDEX
LINK FOR THE BOOK
