These days, it seems like every company has a mission, vision, or values statement. To outsiders, these words or phrases might not mean much; it’s the day-to-day internal and external interactions with employees, the community, and the environment that really matter. But when it comes to running a business, core values have the potential to be the guiding principles that not only define who you are as a company but also shape how you do business every day. If your company were a person, core values would be its personality traits. They help build a culture where everyone’s on the same page, motivating the team and attracting like-minded people who can identify with your mission.
According to Lucidity, the top 3 most common company values are:
- Teamwork
- Customer-Focused
- Respect
When businesses can define what they stand for, it creates a culture where employees feel like they’re part of something bigger than just clocking in and out. It builds trust with customers and clients too; when they know what you believe in, they’re more likely to stick around and support you. Plus, when times get tough, those core values can be a solid anchor that keeps the whole crew grounded and motivated.
When employees work for a company that shares their values, they feel a sense of purpose and meaning, which can lead to increased productivity and job satisfaction. Research supports this notion: according to a survey by Qualtrics, 70% of employees reported that their employer’s values align with their own, and those who reported alignment were more likely to be engaged and motivated at work.
On the other hand, working for a company with values that conflict with one’s own can lead to feelings of moral distress, decreased job satisfaction, and increased turnover. According to one journal, mismatched values can lead to emotional exhaustion, cynicism, and reduced commitment to the organization.
Why is it important for companies to share their values with their employees?
When effectively communicated and integrated into daily operations, company values serve as a foundation for establishing a cohesive identity and achieving strategic objectives.
Employers can attract top talent by showcasing their company culture and values through social media and online platforms. A study by LinkedIn found that 70% of employees would consider a job change if they didn’t feel their current company values align with their own.
What are some examples of values that CARE companies exemplify?
Above anything, this year’s CARE winners have incorporated their employees’ values and beliefs into their work cultures. When asked if “My organization’s policies and procedures create a positive work environment for me,” 92% of all employees surveyed either agreed or strongly agreed with the statement. What are some of the 2024 CARE Award winners’ values?
- Mutual Support: “We rely on each other to succeed… as we provide support, collaborate, and grant each other the grace to care for ourselves and our loved ones.”
- Trust: We value trust. Without trust “our work and relationships are undermined, and the organization experiences a huge “tax”; productivity goes down as interactions become more difficult and fraught with anxiety.”
- Employee-First Focus: Our employee-first approach drives success, attracting top talent aligned with our mission and ensuring continued growth.
How a company acts upon its set of core values cannot be understated. As Patrick M. Lencioni puts it, “our core values need to be integrated into every employee-related process—hiring methods, performance management systems, criteria for promotions and rewards, and even dismissal policies. From the first interview to the last day of work, employees should be constantly reminded that core values form the basis for every decision the company makes.”