O P I N I O N
Getting everyone to think and act like an owner will result in more of your people making day-to-day decisions with the best interest of the company in mind. Encourage ownership among young people
G etting new and younger staff to take ownership of their work goes a long way toward building a successful company. Encouraging actual ownership among young professionals, however, is the best way to sustain it. Every company needs young professionals to become owners. The early buy-in provides long-term sustainability when the founders or top-level leaders decide to retire or move on.
Young professionals often join companies because one person or a group of people saw something they liked in them. When the opportunity arises, they are usually eager to invest back into the company that took a chance on them. It is an opportunity for them to say, “I’m all in!” The benefits of having younger employees with ownership stakes in the company are often linked to better company performance. When staff at multiple levels of a company are financially invested in its success, you create a culture where everyone is thinking, behaving, and making day-to-day decisions with the best interest and intentions of the company in mind. It also increases ownership representation and influence among multiple peer groups.
Getting employees at all levels to buy in to thinking and acting like an owner is invaluable because employee-owned firms have more stability, higher survival rates, less turnover, and fewer layoffs in recessions. Unfortunately, not every employee will be afforded the opportunity, or even have the willingness to become an owner. The ultimate “golden nugget” for ownership is purchasing company stock. Direct purchase of stock often includes restrictions based on years of employment and can be impeded by younger professionals lacking enough personal capital to afford the buy in. Employee stock ownership programs and profit-
See JON PARRISH, page 4
THE ZWEIG LETTER MAY 31, 2021, ISSUE 1394
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