Giving employees a stake in the company they work for has been one of my guiding business philosophies. I’ve always believed that if employees have a real and…
The reason why is simple: as an owner or part-owner, you instinctively want to do everything to the best of your abilities. You want to produce work of the highest calibre because you’re part of something you take pride in. And most importantly, you know that your contributions to the bottom line will be financially rewarded.The NP Comment newsletter from columnist Colby Cosh and NP Comment editors tackles the important topics with boldness, verve and wit.
My foreman was itching to strike out on his own and be his own boss. I could have doubled his salary, but it would have been only a temporary fix. It would not have filled the hunger he had to run his own small business. The new factory was a great success. In two years, the number of employees grew from ten to fifty. Because he was a part owner, Herman hustled day and night. And the more business he drummed up, the more money he made.
I had no financial studies to prove that employee ownership could ignite greater productivity and growth. I just knew in my gut that if you gave everyone a cut of the action, your business would grow and make more money.
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