Excellent cultures perpetuate the key core values of their leader(s) through everything the business does. These values dictate the identity of your organization. But how exactly does this work?
Your organization's core values are the principles that guide the behavior of you and your employees as individuals and in groups (departments and teams). Examples of values are endless - family, friends, loyalty, integrity, openness, value, diversity, honesty, inclusion, trust, winning.
Assuming that your organization's values are known, how are they then perpetuated through everything you and your teams do? Here's our framework we use to measure any business's health.
Does everyone in your organization know your corporate values? Do you have a pact or other communication that informs everyone from top down what your most important values are? Does that communication include the very definition of each value and how it should affect behavior? Do you regularly review and update your values? This should be done at least annually so you and your entire team stay aware of their importance.
Financials & Operations
Your values will drive your financial results all.the.time - period. In fact, your values drive every success, failure and recovery. Done correctly, you can sustain high shareholder value, successful returns and employee satisfaction. Further, we have witnessed millions of dollars saved in downtimes by engaging employees to find savings and avoid layoffs.
Death, Taxes & Change
Inevitable are death and taxes, but as our history has shown (most recently the pandemic), change happens. How are you set up to shift, pivot and respond to changes in your marketplace, industry or with competition? Placing value on change, improvement and innovation are incredibly important to your organizational health. This then drives your decisions on systems, security and safety, benefits and really everything.
Once your values are distinctly defined and shared, they should be reflected in your personnel activities from hiring to talent management. Every job description should incorporate organizational values - not just a boilerplate, but within all expectations.
Performance and engagement assessments contain questions that tie back to your core values so employees are held accountable for their behaviors. Far too often, we see incentive programs and promotion tracks flawed. These should also apply your core values - whereas bonuses and promotions are based upon weighted averages of exemplifying each of your core values.
Values In Action
Our core values include empowerment and integrity because we strive to help businesses get ahead in their markets. We also empower individuals by connecting our clients to our resources - people, ideas and places. We run groups for career-minded individuals that prioritize connection and support. And we always strive to uplift others.