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Member Benefit

The Importance of Ownership

Published Mon Nov 27 2023

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There is a growing wealth and emotional inequality in the world, and having a fulfilling job is critical in addressing this issue. However, only 23 percent of people, according to Gallup data, report thriving at work, with 40 percent of U.S. workers stating that their job negatively impacts their mental health. The economic cost of low employee well-being is substantial, affecting performance, engagement, and loyalty. Peter Stavros, the founder and chairman of Ownership Works, identified low trust and poor incentive alignment between employees and leaders as foundational problems. To address this, he established Ownership Works, a nonprofit organization aiming to increase shared ownership at work. The organization helps companies build a culture of ownership where employees have equitable opportunities for growth and a shared sense of purpose. This involves creating a workplace where both employees and leaders are motivated to achieve the same goals. A culture of ownership involves mutual respect, equitable opportunities, and shared financial incentives. Through partnerships with Gallup, Ownership Works focuses on using the Gallup Q12 survey to measure employee engagement and ownership. There are many positive outcomes of ownership, including improved profitability, retention, and safety outcomes. Ownership Works is working to scale the ownership solution to other companies, helping leaders shift from managing people as liabilities to empowering them as assets. The ultimate goal is to create a future of work where employers and employees can win together, contributing to a more inclusive and equitable economy for all.

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