Employee Incentive Training | Implementing Ownership Thinking

What's New at OT!

The Ownership Thinking Club is now online.
Click here for details!

“If you do not get a return on your investment within 90 days of an Ownership Thinking implementation, we will refund your fee. This has been our guarantee for 15 years and over 1,000 clients, and no one has ever asked for a refund.” ~Brad Hams, President

The process of ownership thinking

THE IMPLEMENTATION PROCESS:

At Ownership Thinking, we take pride in the fact that we assist our client organizations in implementing OT quickly and effectively – usually in only a few days. Our process consists of the following:

Prior to coming on site, we administer an appraisal, consisting of the following:

A written survey for all employees, which provides us with a baseline of information around the three core components of Ownership Thinking - Business Acumen, Information Sharing and Keeping Score, and Incentive Compensation - as well as employees’ views on the key, critical people, financial, and operational issues in the organization.
A simple review of five years of year-end financials (balance sheets and income statements), which is utilized to create a trend analysis that will identify strengths, weaknesses, and opportunities in the organization.

After compiling the information noted above, we will tailor your materials and come on site. A typical implementation consists of the following:

Day One: Management (full day):

Overview of Ownership Thinking
Financial training, including exercises focused on real issues identified from the surveys and financial analysis.
Identification of the organization’s Key Performance Indicators.
Identification of critical action items to insure a successful implementation.
Incentive plan discussion, and identification of key measures for the plan (threshold, stretch goal, % share to incentive pool, etc.).

Development of tools:

Upon completion of day one, we will design all of the tools and document the information from the management team work:

Scoreboard design and construction.
Incentive plan design and construction, including all related tables for incentive pool and distribution of pool.
Documentation of all notes, action items, responsibilities, and timelines.
First year “roadmap” of Ownership Thinking implementation.

Day Two: Management (half day):

Forecasting training (huddling):

Huddle video and discussion.
Huddle session simulation
Review of huddle session guidelines
Review of scoreboard and identification of KPI “owners” who will forecast each KPI.

Notes and Action Items review:

Review all action items, timelines, and responsibilities.
Identify timelines for huddles, Rapid Improvement Plan (RIP) rollout, OT kickoff meeting, incentive plan rollout, etc.
Identification of OT steering committee.

Review first year roadmap.
Review incentive plan and discuss goals and objectives.

NOTE: The incentive plan will typically be analyzed for a week or two before it is communicated to employees, and the final approval of the plan will generally lie with ownership.

Rapid Improvement Plans:

Review RIP guidelines.
Review and discuss examples.
Breakout sessions to identify the organization’s first few RIPs.

Ownership Thinking overview and “Money Matters” financial training for employees:

The remaining onsite work with the client will consist of half day training sessions for all (typically) employees, up to 50 employees in each session.

Overview of the Ownership Thinking process.
Basic financial training toward understanding Income Statements, Balance Sheets, and Cash Flow Statements.
Exercises based on real issues being faced at WSC.
Training on the design and implementation of Rapid Improvement Plans (RIPs).

All services offered in both English and Spanish