The importance of core values is illustrated by a quote from famous author and inventor, Edward de Bono, “Effectiveness without values is a tool without a purpose.” This analogy really hits home. A purposeless tool is a worthless thing and so is a company without a campus – a culture that is formed on the basis of core principles. Core values serve to constantly guide both the employee and the company in achieving their mutual goals, in a manner that is based on an ethical and ideological framework.
Every business is different, and so are their core values. Having said that, there are some principles that are alike for all, even though they may be phrased differently. Here are core values every organization should have:
1. Respect
Without dedicated employees, a company is nothing. Committed employees form the backbone of the entire corporation. They work together with the system in order to achieve growth and profitability. A company has a responsibility towards its employees and, if one of its core principles is showing utmost respect to its employees, it’s likely management will have a low employee turnover.
Respecting all employees means respecting their individual human rights and privacy, eliminating all kinds and forms of discrimination, whether based on religion, belief, race, ethnicity, nationality, gender or physical disability. Moreover, ensuring a safe and healthy workplace environment for all employees is an important part of giving respect to them.
2. Innovation (Not
Imitation)
Companies that focus on being ahead of their competitors and
introducing new ideas in the marketplace follow the principle of “innovation,
not imitation.” This is crucial if a company wants to be a trend setter and
introduce new products that consumers appreciate. Employees in such companies
are encouraged to be dynamic and come up with innovative ideas that can
translate into successful products for the company. Constantly imitating others
won’t take the business far.3. Drive
The thirst to constantly improve can be achieved if one is never satisfied. Organizations that have this principle as one of their core values try to provide a dynamic platform to their employees, where they can explore their creativity and skills and further enhance themselves. While celebrating successes is an important thing, just sitting back and getting complacent over them is unacceptable for such companies.
4. Deliver Promises
A professional promise statement clearly defines what you promise to deliver, over time, to clients. At face value, this statement sounds like a value proposition, doesn’t it? Except, many value propositions are commoditized, to clients’ ears. Besides, these statements are created by organizational committee (or the marketing department). As a result, these statements often lack breadth and depth.
5. Collaborate
We’ve all heard it said: No man is an island. For us to succeed and in turn our clients - we need to rely on the help of others. Both in and out of your company.
Collaboration with vendors, subcontractors, employees, etc. is also fundamental. Together, we are stronger and can contribute more. Shared goals and mutual support lead to greater success than isolated work and individual focus.
Trust and
care are important for collaboration. Without trust, we waste time waiting and
chasing one another. Without personal care, one person may gain but at a cost
to others, leading to a net loss of contribution.
Reference:
1. The Values-Driven Organization: Unleashing Human Potential for Performance and Profit by Richard Berrett
