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7 Reasons Core Values Matter More Than You Might Think

Posted by Jen Seitz on Jun 14, 2019 2:14:40 PM

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We've all likely been in a situation where we've been involved with or worked for an organisation that has a core value statement posted in a prominent spot, but employees don’t truly understand, care or even feel connected to that statement. Or, perhaps you've been involved with or worked with a company that has no idea where its core values lie, and therefore, things are akin to organised chaos on a daily basis.

The cold hard fact is that defining core values is not easy.

To add a bit of insult to injury, core values can be liquid and need to evolve or pivot as things grow and change both internally and externally. So all this begs the question, is defining and developing a core values message worth our valuable time?

In a word, the answer is yes.

Your core values as a differentiator

Companies use their core values to express to the world how they are different. Your value proposition in a competitive market place may come down to a competitive advantage that only your core values can offer.

Investors see core values as a marker of a strong company

If attracting venture capitalists is on your agenda, you might want to include your core value statement in your pitch deck. Investors see the presence as a sign of cohesiveness and alignment.

Core values define your culture

Company culture is a top-of-mind term on most high-level HR professionals minds these days. Culture is coveted but hard to create. Aligning your team through core values, however, creates a foundation from which a strong and positive culture can grow.

Core values help you make decisions

When tough decisions are needed, it can be helpful to refer back to your organisation's core value statement. Does this matter in question fit within our core values? If yes, move forward. If no, pass.

Core values shape the customer experience

Your relationship with your customers or clients will likely be included in your core values. This alignment toward "going the extra mile" or "putting clients first" will roll out to a better customer experience throughout the buying journey.

Your biggest recruiting tool may lie within core values

Global job markets are at all-time lows, especially in high demand industries such as technology and the medical field. As job seekers have more choices and search for more than just a paycheck, strong core values can create an important recruiting advantage for your business.

Strong core values can lift your bottom line

When your internal workforce is aligned, engaged and empowered collectively toward a shared set of core values, their productivity is inevitably optimised.

Answers To The Next Obvious Questions About Creating Core Values:

  • Defining what core values actually are: Start by compiling a committee of team members from different areas of the company and a variety of levels, so your core value development is not limited to one area of the business or defined by only the C-suite.
  • Possible concepts that you might incorporate into your core values: Core values might include words like passion, work/life balance, dedication to innovation, empowerment or creativity. Your unique makeup will look different depending on the makeup of your company and your product or service offering, but it's important that your core values are accurate, authentic and truly representative of your business (not wishful thinking).
  • Best practices for rolling out core value to your internal audiences: Global workforces are more spread out than ever before. Non-desk employees, remote workers and independent contractors are prevalent in today's business environment. Communication, training and reinforcement of core values is always a challenge, but when teams are scattered across the globe, the challenge grows even more daunting. Be sure to find multiple platforms and methods to roll out communications related to core values to ensure 100% receipt with your workforce.
  • How technology can solve your core value communication and measurement challenges: Choosing the right technology can support your rollout, reinforcement and measurement of work toward your core values. StaffCircle offers a deeply-powerful yet easy-to-use software tool that can help you succeed at your core value initiative in a variety of ways, including:
    • Creating a company-wide intranet tool that is accessible anywhere, anytime from desktop, laptop, tablet and mobile.
    • Seamlessly allowing for the sharing of rich content including video, image files and large files to keep your team connected and your business looking professional.
    • Real-time push messaging functionality to keep engagement high and information fresh.
    • Easy-to-use templates that save time but offer deep personalisation.
    • Read log that helps monitor your content has been consumed.
    • And so much more.

In his famous TEDx Talk, business leader Simon Sinek talks about the importance of knowing your "why." Developing a core values statement and reinforcing that set of values with your workforce can help keep your business stay collectively in touch with your "why." FastCompany lists the example of the Harley Davidson brand, its core values are what keep it from being driven (pun intended) out of business by Japanese motorcycle manufacturers that are constantly nipping at their heels. They aren't selling the best motorcycle in the world or even the cheapest. They are selling a set of values - freedom, Americana, the experience of the open road, etc. StaffCircle has the technology tool to help you succeed in communicating and reinforcing your core values.

Get started a free demo from StaffCircle today.

 

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