What you need to know about company values

What you need to know about company values

  • February 10, 2017
  • Blog

After last week’s blog, Hiring Advice From a Billion Dollar Company, I received several calls and comments mostly about core values.

“Those values are so important in the hiring process” said one of my HR colleagues, but we’re not very good about applying them to the hiring decisions we make. “

A friend who runs a successful small business said, “Wait-I think I need a values and mission statement. Do I need those things?”

So, let’s talk about core values a little more…

What are your company’s existing core values?

Give this some thought before answering. I am not referring to ambiguous value lists or mission statements that hang in the office lobby or conference room but otherwise go unnoticed.  Core values are the beliefs that are displayed in every day action.

One of my clients, Russett Southwest Corp. values integrity, longevity and service. This is evident not only in their logo and marketing materials, but also in their customer service and sales strategy. After 70 years in business, much of Russett’s business comes from existing customers or referrals.  The sales team does not work on commission which allows them to maintain focus on what’s important-the customer. They’ve even been known to send cookies to customers as a way of thanking them for their business and trust.

What if we don’t have a set of values?

Now’s the time to establish core values if you don’t already have them in place. The benefits of a establishing (and committing to) core values include:

  • A tool in the selection process. If your company values cutting edge technology and innovation, hiring someone who isn’t savvy in the platforms that you use and isn’t willing to learn probably won’t be a good fit.
  • Core values are complimentary to a meaningful mission and vision statement. These declarations should be something that everyone in the company can get behind, and maybe even be proud of. The core values should be the common thread.
  • Core values drive the way business is conducted. Consider the difference between getting a burger at In and Out vs. getting a burger at McDonald’s. The customer experience you have and the quality of the food that you’re served is directly related to the values of those companies.

It’s likely that your organization considers certain things more important than others and reflects that in strategic planning, policies and business development. Keep these things in mind as you establish or solidify your core values.

Also take a look at what your customers are saying. What do they most appreciate about doing business with you? Include perspectives from your team members as well. Meaningful core values stem from a variety of insights-not just the ideas of senior leadership.

 

For more on the importance of core values and how to establish them, give us a call at 888-529-0240 or shoot us an email at info@pathfinder-strategies.com