Core Values-Part 1: Why Have Core Company Values

The first day in a classroom setting often establishes the rules. From the syllabus to the calendar, clear expectations are set, but as we transition into our careers, the introduction and expectations grow less clear. In positive ways, a culture and a personality develop at the workplace. In negative ways, any growth or policy shift may result in ambiguity. Growing pains are common; change is hard.

So how can a savvy business define and maintain who they are? Enter core values.

“We believe core values are a guiding light,” explains Sonya Weiland, PHR, SHRM-CP , President/Founder of Your Partner in HR, “they establish a course for everyone to be rowing in the right direction”.

Core values describe not what a company thinks it should believe, but what it actually believes.?These values are the foundational statements about what your company thinks is important and articulating that shows people what is important in this organization.

According to the American Psychological Association, “From the outside, it’s easy to assume that the sole determinant of a successful business is profitability. After all, profitability paves the way for growth and keeps a business competitive. However, profitability is often dependent on multiple factors: a good product; teams that communicate well; and employees who are motivated, well-trained and committed to the company goals.”

That’s why core values are the go-to tool when your company needs a little direction or focus. Perhaps you are doing employee reviews, hiring, identifying training needs, looking to optimize the quality of work, or adding new products or services. Having core values provides the litmus test for decision making.

“Everybody wants to know what ‘good’ looks like,” Weiland says. “Your kids, your colleagues, your employees… we yearn to understand how to make each other proud, successful and happy. Core values help with that.”

Core values are… the foundation for your organization and should be used to recruit, recognize, develop and promote employees. The guideposts of your hiring process… the shared ideals of all the people in your company.

Core values are not… a poster for your wall. Words you never use in real life. Lofty aspirations.

“Enron probably had core values posted on their wall too,” Weiland jokes. “If they aren’t lived and breathed, then they aren’t your core values.”

In Jim Collins’ book, Good to Great: Why Some Companies Make the Leap… and Others Don’t, he highlights a few questions you can ask to evaluate your core values:

• If you were to start a new company, would you build it around this core value regardless of the industry?
• Would you want your company to continue to stand for this core value 100 years into the future, no matter what changes occur in the outside world?
• Would you want your company to hold this core value, even if it became a competitive disadvantage—even if in some instances the environment penalized you for living this core value?
• Do you believe that those who do not share this core value—those who breach it consistently—simply do not belong in your company?
• Would you personally continue to hold this core value even if you were not rewarded for holding it?

If you want a recent example in the floral industry of how core values work can be done, be sure to read part 2!

See original article on Pioneer Imports & Wholesale official website: https://www.pioneerwholesaleco.com/blog/company/why-have-core-company-values-part-1.html

A collaboration between writer Laura Vitale and Sarah Botchick of Pioneer.