The Value of Values
The Power of Core Values in Business Success
Every business needs something unique to stand out, especially in competitive markets. Often, that defining factor is your core values. These values represent your non-negotiable principles—the deeply held beliefs that drive your business decisions and actions. Unlike cookie-cutter ideals, authentic core values create loyalty and foster strong connections with employees and customers. They may not please everyone, but they’ll attract the right people.
Integrity, quality, work-life balance, customer service, and teamwork are values everyone agrees are nice, but few organizations are willing to take a hard stand and put a majority of their time and effort into them.
We’re talking about BUSINESS CORE VALUES, the ones where you draw a line in the sand and will NOT compromise. These are your highest priorities, the deeply-held principles that your company stands for. They’re authentic, assertive, and divisive. Strong values aren’t going to please everyone, and they shouldn’t. Authentic core values should narrow down your list of potential employees and customers, but the ones who remain will have a stronger connection with your business. They’ll be fiercely loyal because of the bond they feel with your organization.
If you’re not sure what your core values are, we can help narrow them down. Instead of listing every value that sounds nice, 4 to 6 core values are enough to realistically follow.
What Core Values Are Not
Aspirational Goals: A goal like teamwork isn’t a core value until it’s a reality in your organization.
Societal Norms: Common standards, like honesty, aren’t core values unless your business uniquely prioritizes them.
Empty Words: Values that leadership doesn’t follow damage trust and credibility.
Trendy Buzzwords: Avoid superficial terms unless they genuinely reflect your operations.
Defining Your Core Values
To define your core values, start by analyzing your business priorities. Identify what matters most and what has less impact. For example, your dress code may highlight whether you value professionalism or comfort.
Core values should reflect what your company stands for and refuses to compromise on. These values inspire you to exceed expectations for both employees and customers.
Avoid creating a long list of generic values. Instead, involve senior leadership and key employees to identify the principles that truly define your business. Focus on a shortlist of 4 to 6 impactful values.
What to Do With Core Values
Core values must guide your decisions and actions. They should influence hiring, performance evaluations, and daily operations.
Hire employees who align with your values, even if they require some training. A team that embraces shared principles contributes more positively than those who don’t fit your culture.
Reinforce values consistently through actions, verbal reminders, and visual cues. Repetition ensures these values remain top-of-mind for employees and customers.
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What You Can Do With These Values
Now that you’ve got your shortlist of values narrowed down, you need to put them into practice or they’re useless. That means more than hanging a poster or posting a tweet about them. These should act as your compass for making decisions. Reinforce your values through actions to cement them in the minds of employees and customers. Having strong relationships with employees starts with the hiring process. It’s important for applicants to be able to fulfill the job requirements, but it’s also important for them to mesh with the business’s values. Employees who don’t fit the company culture cause resistance and lead to more turnover. That doesn’t mean every employee should be a mindless clone who blindly follows the will of the company. You can have people with different personalities, experiences, and diverse points of view who understand and embrace the same values. A new employee who shares the organization’s values and needs a little training is more valuable than one who’s an expert at the job but disrupts the working environment in a negative way.
Once you’ve got the right people hired, use your values to evaluate performance and rewards to keep the values in the front of people’s minds. Repetition helps solidify values, so that can mean verbal or visual repetition, but it also means repetition of actions that match those values.
Is It Worth the Effort?
Defining and implementing core values takes time and commitment. However, strong values attract the right customers and employees, build trust, and guide decision-making. While challenging at first, establishing authentic core values ensures smoother operations and long-term success.
Pin down your core values and let them shape your business into something truly remarkable.
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