Company values are an important part of building a strong organisational culture. They provide a foundation for decision-making, guide behaviour, and shape the way people interact with each other. However, defining and implementing company values can be a challenge.
There are a few key steps to successfully design and implement values in an organisation.
The Importance of Company Values
Having well-defined company values can have a significant impact on your business. They provide a shared vision for the organisation and help to align behaviour and decision-making. Company values can also help attract and retain employees who share the same values, leading to a more engaged and committed workforce. During M&A activities, aligning new organisations to company values, or even creating a new set of values, can be instrumental in rallying the expanded organisation and creating a “one team” feel.
Identifying Company Values
The first step in defining company values is to identify what is important to your organisation. This can involve analysing the company’s mission and goals, reviewing the company’s history and culture, and soliciting feedback from employees and stakeholders. Of course, all stakeholders are likely to have a different view of what the values should be, but the important thing is that they have a voice in the definition process. Once you have a list of potential values, you can begin to refine them and identify the core values that will guide your organisation.
Articulating Company Values
Once you have identified your company’s core values, the next step is to articulate them in a clear and concise manner. This may involve developing a mission statement, creating a list of values, or writing a narrative that captures the essence of the company’s values. It’s important to make sure that your values are easily understandable and memorable. You should choose communication methods that are already the norm for your organisation, whether this is email, instant messaging, or company intranet pages.
Communicating Company Values
Values need to be more than a poster on the wall with some catchy slogans. Effective communication is critical to implementing company values. Your employees need to understand the values and how they apply to their work. This may involve creating training programs, incorporating values into performance reviews, and ensuring that all messaging aligns with the company’s values. HR and company leadership have a critical role to play in ensuring the values are front of mind. It’s important to make sure that your values are a part of everyday conversations and interactions between employees at all levels.
Embedding Company Values
The final step in implementing company values is to embed them into the organisation’s culture and decision-making processes. This can involve incorporating values into hiring and onboarding processes, recognising employees who embody the company’s values, and making values a central part of the company’s day-to-day operations. Values can also be used to highlight misaligned behaviour and can be a great way for influencing without authority. Simply by holding a mirror up to the errant employee and asking them to reflect on whether the behaviour they are demonstrating aligns with the company’s values can be a powerful tool. It’s important to lead by example and to make sure that everyone in the organisation is aligned with the company’s values.
Defining and implementing company values can be a challenging process, but it’s essential for building a strong organisational culture. By identifying and articulating your company’s core values, effectively communicating them to employees, and embedding them into the organisation’s culture and decision-making processes, you can create a more engaged and committed workforce.
