Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit

CHAPTER THREEYour Employees Think You Make Wheelbarrows of Money

In this chapter, I will provide some tools to assist you in teaching your employees about business and finance. But first, let’s look at why educating your employees is so important.

The primary reason for providing business acumen training to employees (and for sharing more information than you might be accustomed to) is this: What your employees don’t know can hurt the company. I’ll give you one example from literally hundreds I have seen to illustrate my point. I was working with a corrugated box manufacturer in 2008 and had already done all of the leadership work—identified the KPIs, built the scoreboard, designed the incentive plan, and so on—and was then working on the employee ...