Introduction
A quick answer to that question would be something like, “Because it’s not 1985 anymore”.
In general, most modern businesses at least understand the idea of values and culture, even if they don’t do anything about them.
So, for the business leaders trapped in a time warp, let’s bring you up to speed. It’ll be like Back to the Future without the rubbish sequels.
As a modern business leader, one of your core tasks is ensuring your company’s culture aligns with your goals and values. This can be challenging, especially if you’ve never thought about it and the people in your business think it’s a “load of corporate buzzword rubbish”.
But it’s important. Really important. So sit back, strap yourself in and get ready for a trip to the present day.
What are Company Values?
Let’s start at ground zero (or the shopping mall car park if you want to continue the BTTF analogy). Company values are the fundamental guiding principles that shape the culture and character of your business. They are the deeply cherished beliefs that your leadership team and employees hold dear, serving as a compass for their behaviour and decision-making. By upholding values such as integrity, collaboration, innovation, and exceptional customer service, you create a positive and purpose-driven environment, which is a strong foundation for long-term success and growth.
But they’re more than a statement on a framed letter in your reception. Your company values run through every activity in your business.
Why are Company Values Important?
Company values are the backbone of any business, and it’s not just about looking good on paper. They set the tone for how a company operates, how employees treat each other, and how they treat customers. It’s like having a moral compass that helps guide decision-making and creates a sense of purpose. So yeah, they may seem cheesy at first glance, but trust us, these values can make or break a company.
How Do You Identify Your Company Values?
Identifying your company values requires introspection and reflection. Yes, it sounds a bit new age, but you don’t need a lycra body suit (unless that’s your bag).
Start by asking yourself, what’s important to us? It could be anything from teamwork to innovation, but make sure it’s something you genuinely believe in. Then, look at how your company operates day-to-day. Are your employees embodying those values, or are they more concerned with the latest memes on Twitter?
You can also look at other companies that you admire and see what values they hold dear. Once you have identified your company values, you should clearly communicate them with your team, partners, and other stakeholders.
How Do You Communicate Your Company Values?
Your company values are like your reputation – both need to be communicated to the world loud and clear. So, how do you let customers, partners, and potential employees know what kind of company you are?
Bang them on an email? Scribble them on the toilet wall? Write them in the condensation on the canteen windows?
Lucky for you, there are plenty of better ways to spread the news. From social media to blog posts to your website, the options are endless. Just make sure your message stays consistent and true to your brand. And hey, if all else fails, maybe try sending smoke signals. Just kidding, please don’t actually do that.
What are the Benefits of Clarifying your Company Values?
Ultimately, there’s got to be some tangible benefits to having your values and culture aligned. Otherwise, what’s the point? Here’s a few to think about:
Defines Your Business Identity
A company’s values are what really make it tick. They’re like the guiding principles and standards that make people go, “Now, that’s a company I respect!” When employees truly get what the company values, they can live and breathe them daily. And guess what? Defined values are also handy for telling the world about the company’s mission and vision. It’s what sets the tone for the whole company culture.
Strengthens Team Unity
Company values are like GPS for employees, guiding them towards a common goal and forging them into an unstoppable team. When people are on the same wavelength, they’ll invest in the company’s success, fostering collaboration and teamwork. With a solid company culture, everyone has a purpose, which makes success inevitable.
Attracts the Right Talent
Corporate responsibility and ethical practices are a big deal to job seekers. More and more candidates are looking for a company that champions sustainability, diversity, and social responsibility. So, by embracing these values, your business attracts top talent and cultivates a workforce that resonates with and upholds your values, leading to long-term commitment to your company.
Encourages Consistency
When a business has its act together and makes its values crystal clear, it sets a standard for how everyone should behave and play along. This consistency in behaviour is like the glue that helps build trust among everyone involved – employees, customers, and stakeholders. So make it count!
Shapes Business Decisions
Company values are like the North Star guiding an organisation through the treacherous seas of business decisions, customer interactions, and daily operations. When these values are firmly established, making tough business decisions becomes a piece of cake, and communicating them to employees and stakeholders is a walk in the park.
In Short
In a nutshell, company values are the secret ingredient that shapes your business’s culture. They’re like guiding stars, showing you how to navigate and giving your team a shared purpose. By clearly communicating and embodying these values, you weave them into the very fabric of your organisation.
But wait, there’s more! Leading by example and consistently walking the talk is crucial. This reinforces your values and creates an environment where your team can thrive. When everyone’s on board with your company’s values, they’re more engaged, motivated, and committed to achieving shared goals.
And here’s the icing on the cake: company values act as a compass, guiding you through stormy seas. They help you make tough decisions and ensure your actions remain aligned with your core beliefs and objectives.
To wrap it up, company values are no buzzword. They’re the foundation of a strong and successful business. Prioritising and nurturing these values attracts top talent, fuels innovation, and drives long-term growth and sustainability.
