“Values are like fingerprints, nobody's are the same, but you leave them all over everything you do.” - Elvis Presley
Creating core values is essential for leaders and managers to build a thriving organization. Values serve as a compass, guiding decisions, actions, and behaviors toward achieving a shared purpose. In fact, research shows that organizations with clearly defined core values experience higher employee engagement, job satisfaction, and retention rates.
How Leaders and Managers Create the Resonant Core Values
Here is a step-by-step guide for leaders and managers to create core values that resonate with their teams:
- Involve your team: Host brainstorming sessions or surveys to gather feedback and insights into what values they believe are essential for your organization to embody. This practice fosters a sense of ownership and commitment to the values.
- Align values with personal beliefs: Incorporate the science of organizational psychology. Values that align with personal beliefs lead to higher employee engagement, job satisfaction, and retention. For instance, a study by the Society for Human Resource Management found that employees whose personal values align with their organization's values report 74% higher job satisfaction.
- Create clear and concise values: Once you have gathered feedback, create clear and concise values that align with your organization's mission and culture. Consider using memorable phrases or acronyms that are easy to remember.
- Effectively communicate values: Communicate the values to your team through various channels such as company meetings, internal memos, and onboarding materials. Emphasize how the values guide decision-making and behaviors.
- Practice what you preach: Leaders and managers must embody the values daily and recognize employees who exemplify them. This practice creates a culture where core values are lived, not just words on a wall.
When creating core values, consider incorporating the science of organizational psychology. Values that align with personal beliefs lead to higher employee engagement, job satisfaction, and retention. A study by Deloitte found that 94% of executives and 88% of employees believe that having a clear sense of purpose and values leads to success.
However, it's not enough to simply create core values; they must also be effectively communicated and practiced throughout the organization. Leaders and managers must embody the values daily and recognize employees who exemplify them. This practice creates a culture where core values are lived, not just words on a wall.
Examples of Companies with Resonant Core Values
Here are a few examples of companies that have core values that resonate with their employees and have seen positive business outcomes as a result:
- Zappos - "Deliver WOW Through Service" Zappos is a well-known example of a company with strong core values deeply embedded in its culture. "Deliver WOW Through Service" is one of its core values, reflected in its exceptional customer service. As a result, Zappos has established a loyal customer base, achieved high levels of employee engagement, and experienced sustained financial success. In 2009, Zappos was acquired by Amazon for $1.2 billion, and the company continues to thrive.
- Patagonia - "Build the Best Product, Cause No Unnecessary Harm" Patagonia is a company strongly committed to environmental sustainability. Its core value, "Build the Best Product, Cause No Unnecessary Harm," reflects its dedication to creating high-quality products while minimizing their environmental impact. This commitment has resonated with employees passionate about the company's mission. As a result, Patagonia has been able to attract and retain talented employees, establish a loyal customer base, and achieve strong financial performance.
- Southwest Airlines - "Warrior Spirit, Servant's Heart, Fun-LUVing Attitude" Southwest Airlines is known for its unique corporate culture, built around its core values of "Warrior Spirit, Servant's Heart, Fun-LUVing Attitude." These values reflect the company's commitment to providing exceptional customer service and fostering a positive work environment. As a result, Southwest has achieved high levels of employee engagement, established a loyal customer base, and consistently outperformed its airline industry competitors.
These examples demonstrate how core values that resonate with employees can lead to positive business outcomes, including increased employee engagement, customer loyalty, and financial success.
Conclusion
Creating core values that resonate with your team is essential for building a purpose-driven organization. These steps can create a culture of inspired and engaged employees driven toward achieving a shared purpose. Remember, values are the fingerprints that shape your organization's success.
Don't underestimate the power of core values in building a successful and purpose-driven organization. Use the step-by-step guide to create values that resonate with your team and turn them into action. Start by sharing your values with your employees, integrating them into your hiring and onboarding processes, and reinforcing them through everyday actions. Remember, it's not just about words on a wall but the foundation of your organization's success. Take action today and watch your team thrive.
