What are Core Values and What Can They Do for Me?
In today’s fast-paced and competitive business environment, strong organizational leaders recognize the significance of core values. These guiding principles serve as a common thread that unites a team, providing a shared sense of purpose and driving them toward common goals. However, merely defining values is not enough. Values must be deeply embedded in a company’s culture to drive the desired results. This article will explore why core values matter and how leaders can ignite excitement and commitment within their teams.
The Essence of Organizational Culture
Organizational culture is the collective result of the thoughts, behaviors, shared values, and responses to internal and external factors exhibited by team members. A company’s culture is founded on its core values and can be intentionally created and nurtured from the outset. However, this culture is often developed aimlessly and gradually over time, based on the beliefs and experiences of individuals within the organization. As leaders, it is our responsibility for leveraging these values to drive performance, especially in challenging situations.
The Significance of Core Values
Core values should serve as the foundation of an organization, defining its existence, interpreting behavioral norms, and guiding decision-making processes. Core values must be authentic, meaningful, and specific to resonate with the team and have a real impact. Interestingly, consumers also pay attention to a company’s values. As mentioned in Forbes, a recent Accenture survey of nearly 30,000 participants in 35 countries found that 63% of consumers prefer to do business with companies who align with their values and belief systems. Consumer desire for alignment reveals that an organization’s values carry internal and external implications.
Core values are not just empty words on a page; they are the guiding principles that shape an organization’s culture and define its purpose. When leaders successfully instill and nurture these values, they drive exceptional performance and team cohesion. By understanding why core values matter and implementing strategies to excite and engage their team, leaders can create an environment where values are not just slogans but a way of life.
Know Your Talents is proud and excited to offer an extraordinary Core Value Rollout as part of our “Inspire Me” Pillar that incorporates our powerful behavior work from PDP Global. KYT comes alongside organizational leadership to articulate and refine their core values, then embarks on a year-long project of sharing and reinforcing the core values with the entire organization. We even recruit Core Value Champions from within the organization to help engrain the values and ensure that they are lived out in the culture and perpetuated for the future.
If your organization wants to establish core values, or just needs a refresher, Know Your Talents would love to help. Click this link to request more information.
In our next blog we will discuss seven key benefits of having company core values, including employee retention, talent acquisition, company branding, customer satisfaction, fair business practices, and growth and stability.