Smart Leaders Create Effective Corporate Values
If you want a high performance culture, a great place to start is to create effective corporate values that support and foster your strategies, your employees, your stakeholders, your customers and, ultimately, your business.
Effective Corporate Values Done Right
Done right, effective corporate values are powerful drivers of how employees think and behave. Done wrong, corporate values are fodder for sarcasm and hypocrisy. And organizational values, well chosen, are right at the heart of the strategic planning process because they help you to:
Attributes of Effective Corporate Values
As you seek to define your values, know that, to be effective cultural guideposts, corporate values must be:
Four Steps to Create Effective Corporate Values
Here is how to begin:
1. Agree Upon What Matters Most
Assemble your team of high performers and think carefully about what drew you to them. As a group, what do you admire about each other? What behaviors and attitudes do you share that the success of the business really depends on?
Then think about what qualities you want to see in the employees you hire. Write them down.
2. Evaluate Your Values as a Team
Do your corporate values resonate with everyone? Do they highlight your strengths as a company? Sift through the list until you have no more than five.
Then ask if they are easily understood and succinctly expressed. Determine if they are core values being currently lived or aspirational values necessary to get to where you want to go.
3. Test The Longevity and Relevance of Your Corporate Values
Flesh out why each value matters and how you will live it day-by-day in your business. Discuss and agree upon the specific consequences for not living the values.
4. Put Your Corporate Values to the Test
Assign members of the executive team to be “keepers of the values.” Keep values that are being lived, and challenge the practicality of keeping ones that are aspirational only. For aspirational values that are aligned with your strategy and where you want to go as a corporate culture, put specific plans in place to reward the desired values and to weed out traits, attitudes, actions and behaviors that go against those values.
Examples of Corporate Values
How Do You Know if Your Corporate Values are Working?
From an employee perspective, you will know you have a values-driven organization when employees:
From a company perspective, you will know you have a values-driven organization when the corporate values are:
To learn more about creating effective corporate values and aligning your culture, download The 3 Levels of Aligning Your Corporate Culture
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