Finding the core values of any company or business isn’t a difficult task at all.
They’re often plastered everywhere like on a company’s website homepage, in office lobbies, and even in employee handbooks.
But putting those values into action? Now, that’s where the real challenge lies.
Words are simple, but its your actions that speak volumes.
So, how does a company truly live up to its values?
It begins by ensuring everyone understands what those values mean and how to apply them in their daily work, and in this article, we’ll go over what core values are, their importance to an efficient work environment, and how to create them for your own company.
Without further ado, let’s get right to it!
What core values are and why they matter
In essence, core values represent the fundamental beliefs and principles that guide a company’s decisions and actions towards a brighter future.
But beyond that, they also provide employees with a sense of purpose, which is crucial for their satisfaction and fulfillment.
It’s absolutely vital that these values are embraced by everyone in the organization, not just the leaders, as they not only boost employee morale but also enhance the bottom line and foster trust among customers.
Here’s a thought, a business that lacks core values, lacks direction.
If you think about it, how can you expect to cultivate great teams, deliver exceptional customer service, and encourage innovation without having a clearly defined and shared set of values?
What are the benefits of having core values?
- It Defines Your Work Culture: Core values serve as the backbone of your company’s culture. They express the center beliefs and principles that guide how your team operates and interacts, and by establishing clear core values, you create a shared understanding of what behaviors are encouraged and expected within your organization. This clarity fosters unity, cohesion, and a sense of belonging among employees, ultimately shaping a positive and productive work environment.
- It Reflects Your Brand: Core values are also considered to be a reflection of your brand’s identity and ethos. They communicate to both the employees and your customers what your company is about and what it stands for beyond just products or services. This alignment strengthens your brand’s reputation and distinguishes it in the marketplace, which fosters long-term loyalty with your target audience.
- It Lets Your Employees Have Clear Expectations: Additionally, core values provide a framework for decision-making and behavior within your organization, as they offer employees a clear understanding of the principles and standards that guide their actions and interactions. By empowering employees with clear expectations, it can contribute and result to a culture of transparency, integrity, and mutual respect in the workplace.
- It Differentiates Your Company from Competitors: Your goal is to stand out, not blend in, and setting your company’s core values can offer a unique identifier that sets you apart from your competitors. They communicate how your organization is distinct and valuable in the eyes of customers, partners, and stakeholders. This differentiation not only attracts like-minded customers who share your values, but also fosters a sense of loyalty and trust that goes beyond just features, benefits, and price.
- It Influences Behavior: This is probably the most important one of them all, as core values are set to shape the behavior and etiquette of everyone within your organization, and provide a moral compass that informs choices and actions, even in challenging situations. By internalizing and embodying the company’s core values, employees consistently demonstrate behaviors that align with organizational goals and priorities.
7 steps on how to establish your core values
When laying the groundwork for your own company’s core values, these steps can be a helpful roadmap to effectively define and develop your distinct set of guiding principles:
Step 1: Brainstorm About Your Values
Grab a pen and paper (or your favorite note-taking app) and start brainstorming!
Think about what matters most to you and your team, and consider the principles and beliefs that drive your decisions and actions.
And don’t worry about being too structured at this stage, and just let your ideas flow freely.
Maybe you value honesty, innovation, teamwork, or customer satisfaction, whatever it is , write down anything that speaks and resonates with your goals and morals.
Step 2: Narrow Them Down
Now that you’ve got a bunch of ideas swirling around, it’s time to narrow them down.
Look for common themes or recurring concepts among your brainstormed values and ask yourself which ones truly capture the essence of your business and what sets you apart from others.
Remember, you don’t need a lengthy list of values (which most people are going to skip over or forget anyway.)
Instead, focus on quality over quantity, and aim for a handful of core values that feel authentic and meaningful to you and your team.
Step 3: Refine Your Content
With your shortlist of potential core values in hand, you have to clarify and define each of them to ensure everyone understands what it means and why they’re significant.
Having said that, you should avoid any vague or unclear language so that you don’t end up confusing your audience.
For example, instead of just saying “Integrity,” you might elaborate on what that means for your company, such as “We uphold honesty and transparency in all our dealings.”
Step 4: Create a Draft
Now it’s time to put pen to paper (or fingers to keyboard) and draft your first core values statement!
You can start by introducing your company and its vision, mission, and then list each core value along with a brief explanation or example.
Remember to keep it clear, compelling, and easy to understand as this is your chance to bring your values to life and showcase what makes your company special.
Step 5: Review and Finalize
Once you’ve got a draft, take a step back and give it a thorough review and make sure your core values accurately reflect your company’s identity and aspirations.
Try asking for feedback from the company’s stakeholders, such as employees, partners, or mentors and consider any suggestions or insights they offer.
And while it’s good to take all of their recommendations into account, your should ultimately trust your instincts.
After all, you know your business better than anyone else, and your intuition can often lead you in the right direction.
Step 6: Publish the Final List
Once you’ve crafted your company’s core values, and now it’s time to share and communicate it with the world.
Publish your finalized list on your website, in employee handbooks, or wherever it will be easily accessible to everyone in your organization (and customers!)
Make sure to communicate the importance of these values and encourage everyone to embrace and embody them in their daily work.
Step 7: Live Out the Values
Speaking of embodying the values, this is the most crucial among all of the steps above.
Writing your core values is just the first step, but the real test is actually living them out every day, even outside of the organization.
You should be able to lead by example and demonstrate your commitment to your values through your actions and daily decisions.
Additionally, ensure that your core values are easily accessible and frequently consulted, and keep them front and center in your company’s mission.
3 additional Tips on how to write your core values
1. Make it short yet easy to remember
When it comes to core values, less is often more.
So instead of crafting a long essay’s worth of content, focus on capturing the essence of your values by simplifying them into words that anyone can grasp and live by.
Copying the values of another company, especially a competitor, just makes your business blend in with the thousands of other organizations out there (and once again, you want to be better than them!)
So, be sure to highlight what makes your organization unique and emphasize those aspects in your core values.
This way, you’ll be more memorable and attract the right customers and employees who resonate with what sets you apart.
2. Use a distinct tone of voice
Imagine your values as the personality of your business, how would you want to sound?
Whether it’s friendly and approachable or professional and authoritative, whatever tone you take should resonate with both your team and your customers.
For example, if your company prides itself on innovation and creativity, your values might reflect a tone that’s dynamic and forward-thinking.
On the other hand, if reliability and trustworthiness are your main principles, your values might convey a tone that’s more dependable and reassuring to appeal to your customers while still keeping the consistency of your brand.
3. Be creative
Now, when it comes to crafting your core values, don’t be afraid to think outside the box!
Don’t feel like you’re stuck with the same old, same old and let your company’s personality shine through.
Remember, this is your chance to set yourself apart from the crowd and showcase what makes your business truly unique.
For instance, if your company thrives on a culture of fun and collaboration, you might consider values like “Embrace the Chaos” or “Spark Joy.”
These innovative values not only capture the essence of your company but also inspire your team to think differently and approach challenges with creativity and enthusiasm.
brilliant examples of the core values of leading companies
Google’s 10 things we know to be true
Amazon’s Leadership Principles
Make the most out of your core values
Establishing strong core values isn’t just about crafting a list of words, it’s about defining the heart and soul of your company.
By following these tips, you can create values that resonate with your team and your customers, guiding your business towards success, and when done right, they become a powerful tool for building a loyal customer base and a dedicated team.
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