Ali Fitzsimons
As your company grows it’s important to remain committed to values that will determine how it behaves and is seen in the industry and landscape in which you operate. That's why you need a strong set of company core values in place.
In this guide, we’ll explain exactly what company core values are and why they are so vital to a successful growing company. We’ll also take you through some examples of positive corporate values, and explain how to effectively communicate these to your employees.
What are company core values?
Company values are the ethos, feel, attitude and mindset you want your staff to have.
They are a point of reference that allow your team to understand the kind of company they are working for, and what is expected of them in terms of both their individual output, and their contribution to the wider company. All-in-all, they allow employees of all seniority levels to hold themselves and their colleagues accountable.
The importance of company values
Company values are important as they not only support your organisation and employees today, but can continue to do so in the years to come.
When it comes to recruiting with company values, candidates will use them as guidelines to discover where they fit in, and if their own personal values align with those of your organisation. Those who admire your values, and see their qualities reflected in them, will come forward. Those who do not will self-select out of working for you (and that’s OK!)
Accuracy and honesty are critical here. If you are a conservative, steady company, don’t use the word “dynamic.” You will be attracting the wrong kind of candidates – those who crave change, not stability.
Describe your company not as what you want to be perceived as, but as the reality of who you are. This is how you will solidify your company identity and bring in like-minded talent.
Company culture and values – how are they different?
Your company values may influence your company culture, but the two are distinctly different.
Think of them in terms of micro and macro.
Values are macro. Long-term scope. The big picture. Your company values are the over-arching principles of your organisation and will guide the business along its path.
Culture is micro. Day-to-day. Instantly observable. Company culture is the type of environment you all work in – a reflection of personalities and traits that make up your organisation.
As you would be able to tell, a company value such as ‘always looking to learn’ will naturally impact your company culture as it will foster a workforce who constantly try to learn new skills and adopt new ways of thinking.
What are good company values?
There is no shortage of strong examples of corporate values to emulate. Here we’ll go through a few and explain how adopting them could impact your company.
Honesty
We know, this one might sound more like something for a dating profile, but it’s a value more and more companies are striving for. Making honesty a core company value doesn’t just claim that you’ll refrain from bending the truth when speaking both internally and externally. It also sets a tone of openness in your organisation that can drastically improve your office environment.
If people are honest with their feedback, both in terms of what’s good and what can be improved, then your employees never have to worry about reading between the lines or picking up on subtext. This results in better dialogue and more productive collaboration.
Innovation
The world is rapidly changing, and your company needs to be willing to change with it to find success. By adopting a value of ‘innovation’ you will be giving your staff encouragement to always look for new and more efficient ways of working.
Inclusivity
This is great company value for any modern, forward-thinking organisation. Inclusivity isn’t just about accepting people from different backgrounds or abilities. It’s about ensuring their voices are heard in all levels of your organisation.
Having ‘inclusivity’ as one of your company core values proves that you appreciate varied voices and opinions, giving your workforce a more well-rounded outlook.
Thinking "Green"
A ‘green’, ‘sustainable’ or ‘eco-friendly’ corporate value puts a face on your company that can be instantly understood by both your staff and customers.
It displays your company’s commitment to improving the planet and acts as a pledge to work in an environmentally-conscious manner. Just be aware that this is a company core value that people, especially your staff, will be expecting you to live up to with tangible actions.
Real-world examples of good company values
You’ll notice that company core values for successful companies are easy to find and are usually displayed proudly on their website. This is because they realise that staying true to these values has contributed to their success. Let’s look at some of the corporate values of some well-known companies.
Peloton: Believe, Bring your best, Lift people up
Peloton’s meteoric rise in the past decade has cemented them as a company that understands their market and how they can reach it through technology.
Their company values immediately demonstrate how they approach their work with a high-aiming mentality while putting their staff at the centre of what they do.
Apple: Accessibility, Education, Environment, Inclusion & diversity, Privacy, Racial equity and justice, Supply chain innovation
This is quite a hefty list of values, but forgivable considering Apple are one of the most successful technology companies of all time.
Their values are clear, straight-forward and obviously impact the company at every level. They outline the top-level ideas the company was built on, while including their more recent wins like racial diversity and perfecting their supply chain.
Reward Gateway | Edenred: We are human, We delight our customers, We work hard, We own it, We speak up, We push the boundaries, We think global, We love our job
Of course we had to include ourselves in the examples…
Here at Reward Gateway | Edenred we remain constantly focused on our goals while always remembering that people are what makes our organisation work.
That’s why our corporate values are centred on our intention of pushing boundaries and thinking big, while remaining focused on how each person here can achieve this by speaking up and working hard.
How to communicate your company’s core values
Before communicating your values to your team you need to codify them in a way that everyone can comprehend. Ensure each one can be expressed in an elevator pitch of no more than 30 seconds.
Then you need to communicate them to your entire workforce. You can do this within written or digital channels, and they should be a fixture in your daily environment. How about wall displays or murals in the office, or naming your meeting rooms after each of your values? Be sure they are present in your general thought leadership, and the day-to-day running of your business.
Make your values an everyday part of what you do, and ensure they stay relevant. Further down the line, don’t be afraid to adjust them and evolve them as your company grows, too.
Finally, embed your values into your reward and recognition programme too, and your overall approach to employee recognition. Our clients have found success in linking eCards to values, to encourage values-based behaviour. It’s great to be able to articulate how someone demonstrates our Own It value with just a quick look at our Wow Wall, where we display all our eCards via social recognition.
Selecting the right values will embed the right kind of behaviours among employees. In turn this will drive engagement, productivity and innovation.
Company values FAQs
Can we change our company values?
Yes! As your company grows and evolves, your values will naturally change with it. Rather than being set in stone, your corporate values should be reviewed regularly to make sure they are still relevant to your organisation and its aims.
What if our company values are similar to a competitor’s?
It’s not unusual for companies in the same markets to have similar company values – after all, you probably share some of the same goals and ways of working. Having one or two corporate values that overlap with other companies isn’t a huge problem, but you should aim to have a few that are unique to your organisation. This will help potential clients, customers and employees differentiate you from your competition.
What should I do if staff aren’t reflecting our company values?
There are two things to keep in mind in this scenario.
Firstly, how long have your company values been in place? Remember, these are top-level modes of thinking. You can’t announce new company values and expect them to change the way your team works immediately. They need to be given time, while you reiterate the values and ensure your senior management team is making a visible effort to adhere to the new values.
Secondly, have you communicated your new company core values effectively? Re-read the section above on ‘How to communicate your company’s core values’ and look at some new techniques of turning your corporate values into totems of your organisation and embed them in the minds of your staff.
You could also use an employee survey to get an idea of how many staff members are aware of your company values. If awareness is lower than you’d like, then perhaps you need to do another round of promotion of your values.
To discover how to ensure your employee experience programme is aligned to your company values, speak to one of our experts today.
