Core values are in the foundations of a business; created right at the start and nurtured along the journey. They evolve through time as the business and its goals change, but ultimately, they will always be at the heart of everything you do.
Business leaders devote their lives to ensure the business survives based on these values. Their commitment is driven by the beliefs they hold and the sheer determination to stick by them.
So, why are core values so important?
Your core values should support the vision and shape the culture of your company. They are an essential force that drives the growth of your business.
As a result, every employee works towards the same goals, plus a genuine message presented to your audience encourages a more positive reputation and leads to more successful business.
Therefore, it’s a no-brainer that having the values and beliefs of your company at the forefront of every decision will benefit the business in many ways. Let’s explore the positive impact core values can have on a business…
The positive impact of company values
Your core values help align your strategy and the relationship with your team, in turn, empowering your employees.
Better decision making can be done by having a clearer understanding of what you stand for and believe in. Paired with clear lines of communication, your employee satisfaction will improve, along with their engagement.
As well as the employees you hire, core values will attract customers that share the same beliefs. This increases the chance of generating more sales and building better relationship with clients too.
When core values go wrong
Ingraining values into the company culture is what many leaders find the most challenging. Communicating these to potential candidates is key to ensuring new hires are people who share those same beliefs and therefore fit (or add) to the culture.
When executed successfully and all team members sing from the same hymn sheet, it’s highly rewarding to be surrounded by those who share, live and breathe these common values.
But what happens when 33% of employees don’t believe their company’s core values align with their personal values?
This misalignment can cause problems in decision-making and the communication throughout your teams. There will be confusion between employees, creating inconsistent quality of work and therefore not achieving the business goals.
It can affect morale in the business and will poorly reflect on the company culture as they go hand-in-hand.
Core Values Case Study – Cisco Systems
Let’s take at Cisco Systems as a prime example. Cisco Systems is a worldwide leader in networking for the internet with 4 company values:
- Digital society for everyone
- Keeping the UK and Ireland safe
- Commitment to digital skills in the UK
- People and purpose
Their values and the culture they built upon them won Best Large Workplaces in Ireland (for the third year in a row) and Best Workplaces for Women 2021 for the company.
They have grown a team to 47,000 employees who share the same core values as half of their employees left reviews on Glassdoor leaving them a 4.3 star rating. Plus 90% of them would recommend working for Cisco to a friend.
Take a leaf out of Cisco Systems core values and reap the rewards when they are effectively implemented into the business.
Are your looking for an employee who shares the same core values as you?
Get in touch and contact our dedicated teams who are on hand to help you find the very best people. We can help you with all aspects of recruiting a new team member from talent attraction, employee engagement, employee retention, and succession planning.
Call +353 (1) 6629120 or email enquiries@nextgeneration.ie today!
