Mike Andes argues that to make employees think like owners you must give them two things: the information owners have (costs, profits, where money is made) and owner-like compensation (bonuses/pay-for-performance). He emphasizes that transparency about business finances plus pay alignment drives efficiency, profitability, and employee care.
I think that in order for someone to think like an owner, they need two things into the information of an owner, and they need the compensation of an owner. And a lot of people have figured out how to do bonuses, pay for performance, and comp plans to be able to pay people based upon their performance. Other part is what I see most business owners not doing, and that is giving all the information to their employees the same way that they do. The reason that you're so much more efficient and profitable and you care about the business so much is because you're paid like an owner and you know everything about the business. You know how much things cost, you know how much money you're making, you know where the profit really is, and that's why you're able to act like an owner.
