What's the value of company values in times of crisis?

Company values are often cause for debate, even at the best of times. They should underpin a company’s vision and help create a uniquely defined culture. If executed well, they help leaders make decisions by reminding them where true North is. But how relevant are they actually? Do company leaders really believe in them and more importantly act upon them, or are they merely inspirational words which are used during team inductions and then quickly fade into wallpaper or framed artwork for the boardroom? Many companies and employees probably don’t pay enough attention to their values, how much do they actually matter and when are they ever really tested? It remains the exception when a company’s values are actually lived or indeed underpin employees' behaviours.

In recent days and weeks, a number of well-known brands have made headlines during the Covid-19 crisis, often negative headlines, which turned my attention to the value of values.

We’ve all seen the stories about Britannia Hotels terminating team members and asking live-in staff to leave immediately as their services ‘were no longer required’. Or the Sports Direct owner claiming that their products were essential and therefore all shops would stay open and employees were ordered to come to work. Another example is the notorious Wetherspoons boss who was not only talking about herd immunity and keeping all his pubs open when most others had already shuttered to protect their staff and customers, he also announced that pay would be withheld until the funds from the furlough scheme would become available at the end of April. And Virgin Atlantic were quick off the mark to tell their staff to go on unpaid leave for two months. It is probably fair to assume that none of these actions mirror the values of those companies. Sports Direct claim on their website that they value their people and their customers, yet they seemed prepared to risk their health. Virgin usually promotes itself as a super employer with class leading employee benefits and wellbeing programmes, so this announcement came to everyone’s surprise, we just didn’t expect it from Virgin. Their website states that that they aim to be ‘delightfully surprising’. Well, surprised we were, delighted not so much. 

But there are shining examples of company values holding up in this crisis too. Leon springs to mind immediately. The company is known for its innovative approach to fast food and in recent weeks they took it one step further by reinventing themselves as mini-supermarkets while supermarkets were struggling to feed the nation. Leon’s mission is to make it easier for everyone to live and eat well and its values are ‘Be kind, be a leader and live & eat well.’ In my view Leon remains remarkably true to all three of these values during these difficult times. Leon’s John Vincent has initiated and is spearheading the #feedNHS campaign which has gained traction and support amongst plenty of restaurant companies who are doing an incredible job supplying free meals to NHS trusts. The campaign also encompasses all of the Leon values; it’s a kind act, it shows incredible leadership and it does of course help our NHS heroes to live and eat well, bravo Leon!

Both employees and customers alike are watching closely who is doing the right thing right now and one’s actions today may well be rewarded with customer and employee loyalty in the future; the right actions in these few weeks may well become a mechanism to help businesses long term. Candidates increasingly want to work for employers who see the world through their eyes and share the same values. Now is the time where companies can show that 'employer of choice' is more than just a buzzword.

I firmly believe that every crisis is an opportunity, and this one should also be used to review your company values, this is the acid test. If they do indeed turn out to be just wallpaper, throw them in the bin and start again. Or better still, do as you say and start acting upon your values, they may well provide the moral compass and guidance we need right now.