Having a set of specific and unique core values can be a highly competitive advantage. Think about it: if you manage to build a relationship with your clients based on the values you share, you're most likely going to strengthen this relationship because it is built on common beliefs and principles.
Company values are extremely important when it comes to talent attraction and retention. Think about it: most candidates complete extensive research before applying to open roles. They check companies' websites, forums, discussions going on on social media about the companies they are interested in, and they pay particular attention to company reviews.
That's because they don't want to choose the "wrong" company and the same goes for you as an employer — you want to hire the "right" talent. Related: Recruitment vs.
Talent Acquisition [Infographic Included]. Besides interviewing candidates about their skills and experience, you're going to ask them questions about their values to make sure that they fit your company culture. If you don't check whether the candidates are a cultural fit during the interview process, you may end up seeing your employee turnover rates drastically increase in the next few months! Find out what kind of ROI you can expect from your investment in an employee advocacy program with this calculator.
In addition to your customers, potential new clients also care about what your company stands for. When a company finds out that your values are similar to theirs, you could have a much bigger chance of being chosen over someone else. For example, if one of your main company values is accountability, you can attract new customers who appreciate accountability and transparency from their vendors.
For that reason, it is important to understand who your leads are and what their values are. To align their messages, your marketing and internal communications teams need to have a great understanding of your company values. To be credible, your internal and external communications have to be consistent. Companies that haven't set clear company values usually struggle with their communications strategies.
Furthermore, marketing teams that know what the company stands for are much more successful in attracting new qualified leads that convert. Indeed, you need to make sure that you share the right message with the right audience. If your messages include values that resonate with your target audience's values , you're much more likely to catch their attention.
It's all about delivering authentic messages and building trust with your leads. As mentioned earlier, your company values have a direct impact on your business's bottom line. Let's take a look into 15 shocking statistics that show how your company values may impact your ability to attract top talent, the employee experience you deliver, as well as your employees' motivation:. You won't find several companies with the exact same set of values. However, there are some company values we see more often than others.
They are employee and customer-centric and they include:. Most businesses put a lot of effort and resources into defining and effectively communicating their company values with their employees and their external stakeholders.
I'm proud to share some of our clients' inspiring core values as below:. Like most fast-growing companies, we have experienced some growing pains. When we were working on creating a new category, we had no direct benchmark to compare ourselves to. Setting values is never easy, as they should reflect the behaviour and decisions of the whole team and future hires.
They are also the unifying component of the company culture — especially in a highly diverse company like ours, where our team consists of 20 different nationalities.
Take initiative and ownership GSD 2. Be ambitious and create your own opportunities FOMO 3. While many of these may seem straightforward, they have implications that need to be accepted before they can have any benefit. For example, fearing missing out more than fearing failure means that we need to accept that not all things that we do will work. One example of that was our e-learning product we launched back in , which after two years of development, did not gain enough market traction to be a sustainable business.
It hurts admitting that we had worked tirelessly and put everything we had into something that did not deliver, but the experience made us stronger as a team. The truth is that core values are vital to keeping your business afloat during difficult times.
Company culture is hard to manufacture. Those well-worn paths eventually create what becomes company culture, and they play a part in motivating people to do their best work.
During ordinary times, your company culture might revolve around in-person engagement activities: happy hours, office lunches, impromptu coffee chats, etc. The fun activities, serendipitous interactions, and idle non-work related chatter that serve to boost morale and keep people moving together are often absent on a remote team.
Core values light the way for your team. They tell employees, prospects, and customers who you are as a company. In the absence of in-person interactions, employees can lose their sense of belonging. Strong core values give employees a shared sense of commitment, allowing them to rally behind a united cause.
In a virtual environment, shared core values are a powerful reminder that no one person can achieve everything on their own.
In this way, core values foster connection and trust between employees. By embracing core values, your team can overcome difficult situations and achieve positive results, even while working remotely. Every company is different, and the way you choose to promote and reinforce your values should reflect your own unique culture and brand. But there are a few proven ways to bring core values to life:. Recognition allows you to highlight your values in terms of real, everyday behaviors — not aspirational concepts.
This gives employees a positive example of what it looks like to demonstrate that core value during an ordinary work experience. And including a small reward with this recognition can reinforce the value even further. Create a recognition program where employees can easily recognize, spotlight, and reward examples of your values in action. Platforms like Cooleaf make it easy to create a custom recognition platform based on your values.
In a physical office environment, core values usually appear on the walls around the office. Whether you post your values on your company intranet page or share them in your weekly newsletter, keep your core values front and center by bringing them into your day-to-day communication.
You can also bring core values into your meetings. For example, in your next all-hands meeting, try inviting your leadership team to share business updates in terms of the values. Or, start the meeting by having team members shout out examples of recent actions that align with company core values. Hiring managers should always list company values on career pages and evaluate new job candidates based on your company values.
After hiring a new employee, be sure to introduce the core values early and demonstrate their importance. This idea of core values is not only applicable to our personal lives but can and should be applied to all organizations.
Core values truly should be an integral piece of any organizational puzzle. Clearly defined values can significantly help drive decisions that align with your overall goals and create a sense of balance within your organization. All Rights Reserved. Terms of Use Privacy Policy.
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