Yesterday, we had an insightful conversation with two amazing guests, Uwem Uwemakpan and Oluremi Agboola as we continued June’s edition of The Spark Ignite Series – Harnessing Value From Assets.
During the discussion, Uwem and Oluremi explained, with practical examples, how entrepreneurs and their employees can create a culture of ownership and accountability. In this session, we learnt the process of starting from the very beginning to create this culture.
Some of the lessons that stood out are shared below:
The Culture of Ownership and Accountability Starts from The Recruitment Process.
If you want to build that accountability culture in any business, you as a business owner or manager, needs to start early. Before you build your team, ensure there’s a clear understanding of your value proposition. Likewise, you should ensure that each person understands the company’s culture and vision clearly before joining the team.
Ownership and Accountability are Intertwined
According to Uwem, ownership and accountability have only a slight difference, as they’re mainly used interchangeably. Mr Oluremi further explained that ownership and accountability are important for both the employee and the employer. For the employees, they are to carry out tasks as though they own the venture, and stay accountable to their respective tasks. On the part of the employer, you already own the business, but you’re accountable to your employees in terms of remuneration and operations.
There are situations where employees try to replicate their bosses in physical looks to express their admiration. This won’t happen when an employer isn’t transparent to the employees. Of course, there should be business secrets in any company. However, when you’re changing agreements, it’s great if you let the employee know beforehand. That way, they feel like they own a part of the organization.
These and more lessons laced the session. It was filled with all the right steps needed to build ownership and accountability from day 1.
If you missed this session, you really missed. But since we care about you at The Spark, we have the video up for you!
Watch the video above!