From Start-Up to Standout: Why Values Are Your Business's True North
Nathaniel Griffin
Veteran | OpEx Strategist | Improvement Specialist | SPC & Workforce Productivity Analyst
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In the hustle and bustle of scaling a start-up, organizational culture might not be the first thing on an entrepreneur's checklist. Yet, as any seasoned business leader will attest, culture is not a 'nice-to-have'; it's a must-have. The seeds of culture are often planted early, even if inadvertently, and they take root as your business grows. It's not just about Friday happy hours or ergonomic office chairs; it's about the very DNA of your organization, dictating how decisions are made, how employees interact, and even how external stakeholders perceive your brand.
Hello, my name is Nate Griffin, founder of Stewards of Excellence, a process and business improvement organization. As a certified Lean Six Sigma Black Belt, I guide organizations in evaluating their processes, identifying gaps, and achieving their goals. A central part of my mission is helping businesses realize that improvement is not just about implementing trendy methodologies, but about aligning those strategies with their resources and business objectives.
Surprisingly, many businesses, particularly those in the early or middle stages of growth, often overlook the significance of a formalized values policy. While it's not uncommon to see a mission or vision statement elegantly displayed in the lobby or featured on a company website, these are just two pieces of a more comprehensive framework that should also include a values policy.
The mission statement serves as your destination, outlining what the company aims to do, and the vision statement portrays what the company aspires to become in the long term. However, both often leave out the 'how,' which is where a values policy comes into play. Think of it this way: if the mission statement is the destination and the vision statement is the ultimate dream, then the values policy is your comprehensive roadmap, complete with the rules of the road.
Later in this article, I will introduce a framework that I've developed known as the "LIVING" Values Policy. This template is designed to guide organizational behavior and decision-making, encapsulating key principles I've found to be immensely relevant in today's professional workplace. While the mission and vision statements answer the 'what' and the 'why,' this values policy focuses on the 'how,' and can serve as a robust blueprint for any business seeking to establish or enrich its core values.
In increasingly transparent and socially-conscious business environments, organizations are held to higher standards by employees, customers, and even investors. Neglecting to establish a values policy alongside your mission and vision can result in missed opportunities and pose considerable risks. These include organizational misalignment, inconsistent decision-making, and ultimately, a fragmented corporate identity. Let's delve deeper into why it is crucial for growing businesses to have a well-defined trio of mission, vision, and values, with a special emphasis on the oft-overlooked values policy.
Values vs Mission & Vision
Certainly, understanding the distinct roles of mission, vision, and values statements can provide a fuller picture of an organization's guiding principles. These three pillars—often considered the cornerstone of corporate identity—work together to define an organization's purpose, direction, and ethical framework.
Let's start by unpacking each. The mission statement, as we've discussed, serves as a concise articulation of a company's raison d'être—the fundamental reason it exists. It spells out the organization's goals and its commitments to stakeholders. For instance, Microsoft's mission to 'empower every person and every organization on the planet to achieve more' is an example of a mission statement that is future-oriented and aspirational.
On the other hand, a vision statement outlines what the organization wants to become or achieve in the long-term. While the mission focuses on the present and near future, the vision is aspirational and serves as a guiding star for what the organization aims to evolve into. It is the dream, the 'what could be.' For example, Google’s vision is to 'provide access to the world's information in one click.' It paints an image of the company's long-term objective, giving employees and stakeholders a sense of direction.
Then comes the values policy, the third pillar, which provides the behavioral compass that guides how the organization plans to reach its mission and vision. Unlike mission and vision statements, which focus on 'what' and 'why,' the values policy illuminates the 'how.' This policy offers a framework that dictates actions, decisions, and interactions within the organization. It's the topographical map that complements your GPS coordinates. While mission and vision statements provide the latitude and longitude for where the company aims to go, the values policy offers the trails, roads, and highways that dictate how to get there.
So, how do these three elements differ and yet complement each other? Think of it this way: the mission statement is your destination; the vision statement is what you aspire the journey to ultimately achieve or result in; and the values policy are the driving rules you adhere to on your way there. Each serves a unique yet interconnected role. The mission statement lays out the immediate goals, the vision statement lays out the long-term objectives, and the values policy outlines the ethical and behavioral guidelines.
Having a robust mission, an inspiring vision, and a clearly articulated values policy is not just a nice-to-have; it's a business imperative. Together, they create a comprehensive, three-dimensional guide that can help an organization navigate the intricate terrains of purpose, ambition, and conduct.
Regulatory and Financial Implications
These foundational statements often have tangible implications for business compliance, funding, and regulatory adherence. When applying for loans, grants, or even registering your entity—particularly if you're overseeing a non-profit—these documents aren't just recommended, they're frequently obligatory.
In the financial landscape, lenders such as banks and venture capital firms pay close attention to these statements as part of their due diligence. A mission statement can show your immediate objectives, a vision statement reveals your long-term aspirations, and a values policy demonstrates the ethical framework that guides your business decisions. The totality of these elements helps financial institutions assess not just the commercial viability but also the organizational maturity of your venture.
Non-profit organizations face even more stringent requirements. For instance, these statements are commonly demanded during the registration process and are closely examined by donors, grant-making organizations, and regulatory bodies. Failing to provide well-articulated mission, vision, and values statements can result in a loss of funding opportunities or even legal complications. Therefore, these are not mere ideological luxuries but essential components that attest to the organization's integrity, focus, and long-term viability.
This focus on mission, vision, and values as both internal guiding lights and external compliance requirements underlines their sometimes non-negotiable importance. While these statements are instrumental in steering the internal compass of a business, they are equally crucial for navigating the maze of external regulations, financial agreements, and stakeholder expectations.
Why a Values Policy Becomes Crucial for Businesses Scaling to the Next Level
As businesses transition from start-ups to more mature organizations, they often reach an inflection point—a threshold beyond which the ad-hoc practices and freewheeling culture that may have fueled initial growth are no longer sufficient. Herein lies the moment where a values policy transitions from being merely useful to becoming crucial.
In the early days, companies often attract like-minded individuals who organically share the founder’s vision and values. However, as organizations expand, they inevitably need to cast a wider net to attract talent. It's at this juncture that having a codified values policy becomes vital. Savvy, experienced hires are increasingly looking for more than just a job; they seek an alignment of personal and corporate values. Offering a clear values policy can be the deciding factor in not only attracting top talent but also in ensuring that the team that's assembled shares a common ethos, setting the stage for future growth.
When a company is small, accountability often comes naturally; everyone knows everyone, and expectations are clear. As the company grows and new layers of hierarchy are introduced, this natural accountability can become diluted. A well-defined values policy acts as an internal regulatory system, serving as a constant reminder of what the organization stands for. It creates a standardized framework that each employee, from top leadership down to new hires, can be held accountable to.
In smaller teams, unity and culture are often cultivated through interpersonal relationships and a shared history of challenges and triumphs. But as a company scales, maintaining a cohesive culture requires more systematic efforts. A strong values policy offers a blueprint for shaping organizational culture, ensuring that even as new departments are created and new markets entered, the core essence of the business remains intact.
As organizations grow, decision-making becomes increasingly complex, often involving multiple stakeholders with differing opinions and interests. A well-articulated values policy serves as a unifying thread, a shared point of reference that guides complex decision-making processes. It helps in resolving conflicts and in prioritizing one strategic direction over another, ensuring that the choices made are not just profitable but also aligned with the company’s core principles.
Finally, as businesses scale, their public profile also grows. Stakeholders such as customers, suppliers, and even regulatory bodies start paying more attention. A values policy serves as a public declaration of what the organization stands for, shaping external perceptions and influencing brand equity. In an age of social media, where reputations can be made or shattered in a few hours, having a values policy can offer a form of reputational insurance.
A values policy may not be the first priority for businesses in the start-up phase, but it becomes increasingly indispensable as a company scales. For businesses looking to transition from being a market participant to a market leader, codifying and adhering to a values policy isn't just an “extra”—it's a necessity.
The Benefits of Having a Values Policy
A well-defined values policy can be an immensely powerful tool in shaping a company's long-term success. The benefits of such a policy are manifold: it helps attract and retain top-tier talent, significantly boosts employee engagement, and creates an environment that fosters innovation and collaboration.
Attract and Retain Talent
Improve Employee Engagement
Foster Innovation and Collaboration
Having a robust values policy can serve as a magnet that draws individuals who are not just skilled but also aligned with the company's ethos. Job-seekers, especially millennials and Gen Z—who are soon to dominate the workforce—are more discerning than ever. They are looking for employers that offer more than just financial rewards; they are searching for a work environment that resonates with their personal values. Once inside the company, these professionals are more likely to stay, saving the company the often substantial costs associated with high turnover.
But the benefits of a values policy extend beyond mere recruitment. Once a team is in place, a strong values framework can significantly elevate employee engagement. When employees find themselves in a work environment that reflects their own core beliefs and principles, they are naturally more invested in their tasks and in the company as a whole. This isn't mere sentiment; high levels of engagement translate into tangible outcomes, including increased productivity, reduced absenteeism, and higher customer satisfaction ratings.
Yet, the power of a values policy doesn't stop at individual performance; it extends to team dynamics and the company's innovative capacity. In a culture guided by shared values, collaboration and creativity flourish. Employees feel safe to voice their ideas, and the trust that naturally emanates from a values-aligned team smooths the way for effective collaboration. The company effectively becomes an "innovation incubator," where new ideas are not just encouraged but actively cultivated.
"LIVING" Values Policy
If you're at a crossroads about how to implement or upgrade your company's values policy, I've distilled some of the most critical aspects of professional behavior into an acronym: LIVING. This model captures elements I've found to be indispensable in nurturing a thriving, respectful, and innovative workplace.
L - Leadership
I - Integrity
V - Versatility
I - Inclusivity
领英推荐
N - Networking
G - Growth
Below is a comprehensive template of the LIVING Values Policy, designed to serve as a guiding framework for your organization's culture and ethics. Feel free to adopt this blueprint as you scale your business and seek to instill a cohesive set of values among your team.
At [Your Business Name Here], we take pride in our company values, which are the foundation of our organizational culture and drive our decision-making processes. These values, encapsulated by the acronym LIVING, reflect our commitment to creating a supportive, diverse, and dynamic work environment where employees can thrive both personally and professionally. We believe that by embracing these values, we can foster collaboration, innovation, and excellence in all aspects of our business.
We encourage each of our employees to embody the LIVING values—Leadership, Integrity, Versatility, Inclusivity, Networking, and Growth—in their daily work and interactions with colleagues, customers, and partners. By doing so, we can cultivate a positive and rewarding atmosphere that promotes growth, development, and long-term success. These values serve as a guiding light for our organization and help us maintain a strong sense of purpose and unity as we navigate the challenges and opportunities of our industry.
L - Leadership: We value leadership as a key quality among our employees. Inspiring others and taking initiative are essential traits that contribute to our success and growth.
I - Integrity: We believe in maintaining the highest ethical standards in all our business practices. Honesty, transparency, and accountability are the cornerstones of our corporate culture.
V - Versatility: We encourage adaptability and resilience in our employees. Embracing change, learning from challenges, and remaining flexible allows us to stay competitive and excel in our industry.
I - Inclusivity: We are committed to fostering a diverse and inclusive work environment that respects, values, and appreciates the unique backgrounds, perspectives, and experiences of every team member.
N - Networking: We emphasize the importance of connections both within and outside the company. Building relationships for mutual growth and learning is a priority.
G - Growth: We focus on both personal and professional development for all team members. Striving for excellence and aiming for constant improvement help us achieve long-term success.
The LIVING values model offers a balanced framework that addresses both the ethical and practical dimensions crucial for a prosperous and cohesive work environment. Feel free to adopt this template as a starting point and tailor it to the unique needs and aspirations of your business.
Conclusion
As we've journeyed through the pivotal aspects of organizational culture and values, it becomes abundantly clear that a values policy isn't just an optional extra; it's a foundational pillar underpinning all that a business aspires to achieve. Particularly as a company moves from the startup phase to becoming a more established entity, a cohesive set of values can make the difference between chaos and order, inefficiency and productivity, or even ethical integrity and compromise.
One key observation worth underscoring is the primacy of Leadership within the LIVING values framework. This isn't arbitrary; leadership is the cornerstone upon which all other organizational values rest. Executives and managers not only set the tone but also shape the culture and ethical boundaries within which everyone operates. This leadership ripple effect is not limited to immediate subordinates; it permeates every level of the organization, influencing everything from employee engagement and innovation to internal relationships and external brand perception.
In this context, it's crucial to note that whether it's mission statements, vision statements, or values policies, these guiding principles should be more than just ornamental prose hanging on a wall. Leadership must incorporate them into the very fabric of organizational strategy and day-to-day operations. From board presentations to team meetings and even down to the granular level of Key Performance Indicators (KPIs), elements of your mission, vision, and values should be visibly and explicitly integrated. Every initiative, project, or strategy should include a justification that explains its alignment with these foundational principles. Failure to do so renders these important statements into nothing more than empty platitudes, designed to look pretty but lacking substantive impact.
By regularly invoking and aligning with these core principles, companies can avoid the peril of 'value drift' where statements become increasingly disconnected from daily operations. What's more, this practice has the power to embed these values deeply within the organization, making them second nature and part of the collective organizational psyche.
A strong values policy serves as the constant North Star, guiding your company through both calm and turbulent waters. Crafting or refining this policy is not a task to be relegated to HR or outsourced to consultants. It's a foundational investment in the sustainability and success of your company, requiring introspection, honest dialogue, and commitment from every layer of the organization, starting from the top.
It's never too late to invest time and resources into creating or refining a strong, actionable values policy. Organizations that stand the test of time are those that understand the indispensable role of a strong ethical and cultural framework, both today and for the uncertainties of tomorrow. So whether you adopt something like the LIVING values or create a tailored policy, the crucial part is to begin—and to weave these values into the very fabric of your organization's goals and actions. The benefits—ranging from internal cohesion to an enduring external reputation—are not just deeply satisfying but also remarkably sustainable.
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Whatever your industry, don't hesitate to reach out to me at [email protected]. For those in the healthcare industry, I collaborate with my partners and physicians at Islands Healthcare Consultants to offer industry-specific solutions and consultation. I can help you navigate the challenges, develop your strategic approach, and effectively initiate positive change in your organization. Together, we can foster an environment of collaboration, continuous improvement, and shared ownership, setting the stage for enduring success.
Nate Griffin
Founder | Stewards of Excellence & AgriWorks Crop Solutions
Certified Lean Six Sigma Black Belt
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More About the Author
I am a dedicated professional who has called the beautiful island of Oahu, Hawaii, home Since 2004. Together with my beautiful partner Melanie, we have built a vibrant family with three amazing boys, loyal dog Bosley, a red ear slider turtle named Chompie, and a fish called Oscar.
With a diverse background spanning a variety of industries, I have a wealth of knowledge and experience to draw upon. As the founder of Stewards of Excellence (STEXCO), an umbrella organization with three subsidiaries (AgriWorks Crop Solutions, Boka Media Company, and Stewards of Excellence Learning Group), I am committed to helping organizations optimize their performance and achieve excellence.
Leveraging a robust operational foundation, which includes a certification as a Lean Six Sigma Black Belt from Villanova University and a BS in Nuclear Engineering Technology from Excelsior College, I have solidified my reputation as an expert in process improvement methodologies. Today, as a business owner and consultant in diverse sectors such as Engineering, Media, Healthcare, and Agriculture, I bring a unique blend of hands-on knowledge and strategic insight, emphasizing my comprehensive understanding of business and process enhancements.
My passion lies in facilitating process improvement projects, capturing and analyzing process data, and stimulating improvement ideas within teams. My skills and insights have made a lasting impact on the organizations I worked with, and I continue to seek opportunities to create positive change.
To connect with me and learn more about services, feel free to reach out through my contact information provided above. Discover how my wealth of experience, dedication to excellence, and passion for helping others can benefit your organization or team.
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Disclosure
Reluctantly, I pressed pause on my Rocket League match to pen this article, but luckily, ChatGPT swooped in to save me some time by helping to organize the structure and offering additional insights. Rest assured, it's still me at the helm – with my knowledge, thoughts, certifications, and expertise. As AI technology shapes the future, I'm proud to demonstrate ethical stewardship by being transparent about its role in my creative process, hopefully setting a positive example for others. ChatGPT and similar platforms are more like trusty sidekicks than mere work delegates. By using this tech responsibly, together, we can build a better workplace and social environment for everyone – now, back to Rocket League!
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