For people interested in learning about strategies to boost your employee ownership culture or if you’d like to learn how equity sharing can help you grow or exit your business. The ESOP Association Canada’s 2018 Canadian Employee Ownership Conference will feature insights from some of Canada’s leading employee owned companies, as well as advisors and experts who can demystify the process.
June 4 – 6, 2018 in Edmonton, AB. More details at esopconference.ca.
Register Now – June 6 – 8, 2017 in Gatineau, QC. More details at esopconference.ca.
We are continuing to share a few tips to keep in mind regarding Key Performance Indicators (KPIs) and list some of the KPIs identified in various industries over the years by Brad Hams in his book Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit.
KPIs are measurable activities that drive our financial performance. Your leadership team needs to identify the appropriate Leading KPIs (foresight viewing) for you and get your employees focused on them.
KPIs identified for a Software Company:
KPIs identified for a Grower (plants and flowers):
KPI Tip #4: “Do not go to the “key indicator buffet.” Trying to measure too many things leads to an overwhelmed staff, poor measurement, and, ultimately, the abandonment of the process.”
Until next time,
Perry Phillips, President
Ownership Thinking Canada Inc.
Visit www.ownershipthinking.ca to learn more about Ownership Thinking Canada and our online e-learning tool.
As discussed before, Key Performance Indicators or KPIs are measurable activities that drive our financial performance. Your leadership team needs to identify the appropriate Leading KPIs (foresight viewing) for you and get your employees focused on them.
Over the next few posts we will continue to share a few tips to keep in mind regarding KPIs and list some of the KPIs identified in various industries over the years by Brad Hams in his book Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit.
Restaurant Industry:
Technology Recycling Company:
KPI Tip #3: “In order to manage financial performance proactively, it is important to focus on leading, activity-based measures (KPIs).”
Until next time,
Perry Phillips, President
Ownership Thinking Canada Inc.
Visit www.ownershipthinking.ca to learn more about Ownership Thinking Canada and our online e-learning tool.
Key Performance Indicators or KPIs are measurable activities that drive our financial performance.
As previously discussed, your leadership team needs to identify the appropriate Leading KPIs (foresight viewing) for you and get your employees focused on them.
Over the next few posts we will share a few tips to keep in mind regarding KPIs and list some of the KPIs identified in various industries over the years by Brad Hams in his book Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit.
Retail Industry:
Grower (plants and flowers):
KPI Tip #2: “Full disclosure of financial information to all employees is not required to practice Ownership Thinking.”
Until next time,
Perry Phillips, President
Ownership Thinking Canada Inc.
Visit www.ownershipthinking.ca to learn more about Ownership Thinking Canada and our online e-learning tool.
How do businesses measure success? They utilize financial statements such as the income statement (sales – expenses = profit). That’s important information, but there are problems with focusing only on this data.
First, statements are “rear view.” The data is historical, and nothing can change it. Second, most employees cannot read statements, so they are not useful tools. Finally, they do not deal with activities that go on in the business. If we are to proactively manage financial performance, we must identify measurable activities that drive our financial performance, and get our employees focused on these.
We call these measures Key Performance Indicators, or KPIs. Your leadership team needs to identify the appropriate KPIs for you. Many companies focus on Lagging KPIs (rear view mirror), you need to focus the company on Leading KPIs (foresight viewing).
Over the next few posts we will share a few tips keep in mind regarding KPIs and list some of the KPIs identified in various industries over the years by Brad Hams in his book Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit.
Construction Industry:
KPI Tip #1: “If you want to engage your employees in the financial performance of the company, using only financial statements is not enough.”
Until next time,
Perry Phillips, President
Ownership Thinking Canada Inc.
Visit www.ownershipthinking.ca to learn more about Ownership Thinking Canada and our new online e-learning tool.
Over the last several months we’ve been talking about The Adult Contract and how implementing Ownership Thinking involves creating an environment of high visibility and high accountability in an organization. If the organization was operating with a fairly low level of visibility and accountability in the past, this new way of operating will undoubtedly create anxiety in some employees.
The Adult Contract is an “agreement as to how people ought to treat one another in this new environment of visibility and accountability.” We encourage you to talk openly with your employees about anything that comes up. In his book Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit, Brad Hams says, “Let employees know that it is new for everyone, including you, and that everyone will be taking this journey together. Reinforce the fact that nobody is perfect at anything when they are learning for the first time; we get better by practicing … Talk them through The Adult Contract, and tell them to be watching for nonadult behavior, starting with themselves.”
Brad relates the story of a company where the leaders “recognized that historically they had something of a fear-driven environment and that people were familiar with “getting shot.” To introduce The Adult Contract, everyone in the company received a “Get Out of Jail Free” card. The idea was that if any employees made a mistake or tried out something that didn’t work, they had this card to let them off the hook. Of course if was symbolic, but it made a great point and did so in a lighthearted manner.”
Until next time,
Perry Phillips, President
Ownership Thinking Canada Inc.
Visit www.ownershipthinking.ca to learn more about Ownership Thinking Canada and our new online e-learning tool.
In Memoriam of Brad Hams
Brad Hams, Founder and President of Ownership Thinking Worldwide, passed away October 17th, 2014.
An expert in Finance and Human Behaviour and a past President of Mrs. Fields Cookies (Mexico), Brad created a program to change the cultures of companies from one of Entitlement to one of Total Employee Engagement. He was a brilliant and caring individual who was a major thought leader in understanding how and why employees engage or disengage from their jobs. His goal was no less than creating a world where people of all ethnic groups and classes could achieve their dreams.
Brad’s program of Ownership Thinking has helped hundreds of business owners and tens of thousands of employees achieve unheard of improvements, not only in their business results, but in the quality of their lives. This later fact was of prime importance to Brad and he took great satisfaction in being part of those results. Brad’s love of life and the passion to live it to the fullest created an abundance of energy within him which allowed Brad to give well over 100 seminars each year, to write a best selling book (Ownership Thinking), and to expand his concepts to different countries in the world.
It was an honour and a privilege to meet and work with Brad over the last 3 years. His enduring legacy will be his important contribution to the field of human engagement and his beautiful family.
Brad leaves behind his wife Carmen and their two children, Alex and Maury.
Until next time,
Perry Phillips, President
Ownership Thinking Canada Inc.
Visit www.ownershipthinking.ca to learn more about Ownership Thinking Canada and our new online e-learning tool.
Lately we’ve been discussing the Adult Contract – an agreement as to how people ought to treat one another in this new Ownership Thinking environment of visibility and accountability. We’ve covered what adults don’t do under the contract and now we’ll look at what Adults Do as part of the Adult Contract.
Adults Do:
While most of these are pretty self-explanatory, Brad Hams gives an example of the last point in his book Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit, “if a company decides to share more financial information with its employees, the employees must agree not to share that information outside of the organization.” By not sharing that information, employees are protecting their company and coworkers. It probably wouldn’t hurt the company if they did share the information, but why take that chance?
Until next time,
Perry Phillips, President
Ownership Thinking Canada Inc.
Visit www.ownershipthinking.ca to learn more about Ownership Thinking Canada and our new online e-learning tool.
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