close

Why core values ​​are so important and how to implement them

Opinions expressed by entrepreneur Contributors are their own.

Excitement surrounding the term “core values” has skyrocketed in recent months. It’s almost as if the hiring and retention culture really shifted towards leadership and corporate culture after the shutdown. With all the posts, videos, and articles floating around about core values ​​and what they mean, I wanted to take this opportunity to share what core values ​​are, why they should be an integral part of your company culture, and how to put them into practice today.

See also: 3 Steps to Establishing Authentic Core Values

What are core values?

Put very simply, core values ​​are your company’s shield against itself. They are the set of internal values ​​that barometer the entire team within the organization. These values ​​must start with the leadership team and be a direct representation of the values ​​that each member of the leadership team lives by. This will set and maintain the standard of behavior for the entire rest of the team as the company grows. In general, a company will want to have 3-7 well-defined and actionable core values ​​documented. They should be easy to understand, difficult to manipulate, and memorable for every team member.

Remember, keep it simple, but keep it effective. This is important. As the company grows and expands, it will continue to rely on these values ​​to set the tone when faced with challenges. Use your own life as an example of where you can come up with these values. Some questions you can ask yourself are: What is most important to you on a daily basis? What are some non-negotiable things you live by? What assets do you see in others that inspire you to be better? You can use these as a starting point for brainstorming your organization’s value system.

As you grow, your business will face obstacles. When that happens, there will be moments when the whole team can count on something to keep going and that’s the crucial moment where those come into play.

Examples of corporate values ​​are:

  • Communicate proactively
  • Extreme ownership
  • We do the right thing
  • harmony
  • We put our customers first
  • integrity
  • honesty

You can use single words or select phrases. Once you’ve selected these, you’ll want to write a short blurb about the value. Provide insights and examples of where it could be applied in your organization and give your team some ideas to think about. You want to set up each value in a way that makes it look appealing to everyone involved to adopt that way of thinking and working. Core Values ​​are truly a win-win scenario for the team, the customers and you as the owner or leader.

Related: The power of having core stats

How to live your core values

Next, you’ll set this in motion in your team meetings. The most practical and efficient way to implement an enduring value structure is constant reminder. Select specific meetings each week to open with Core Values. You can ask people to read them, you can ask for examples of how they were applied the week before, or you can simply ask if anyone has seen anyone else live the value. This creates a buy-in that shows the team that you mean business, while also being rewarded and recognized for living within the value system that the company now relies on.

The implementation of the core values ​​on a company-wide level starts with you. You must take these values ​​more seriously than anyone else. You need to act daily, apply them, talk about them and hold yourself accountable, even if it hurts, to these core values ​​that move you. It’s incredibly important that you don’t show that they don’t matter enough to you to apply. And when you falter, it’s paramount that you acknowledge it, acknowledge it, and tell your team how you’ll do better.

For a company that hasn’t defined its core values, it can be difficult to see the true ROI of defining and executing, but trust me when I tell you it’s eternal and awesome. People thrive on great leadership, and all great leadership begins with an unshakable set of values ​​that serve the greater good of the team.

Leave a Comment