Corporate values shape the culture and define the character of our company. They guide how we behave and make decisions.
They represent the guiding principles of the organization’s culture, including what guides members’ priorities and actions within the organization. Values are an increasingly important component in strategic planning because they drive the intent and direction of the organization’s leadership.
You first need to define a set of values that are clear, realistic, and hopefully not copied from someone else.
Then, you need to develop a metric to measure the culture and see if the real values are consistent with your stated values:
- Knowledge – Do people understand the values and can they identify behaviors linked to them?
- Perceptions – What are people’s perceptions about the real values of the organization versus the stated ones?
- Behavior – Count instances of behavior and decisions that are consistent or inconsistent with the values
- Process – Assessment of policies, practices, and work/leadership processes that are consistent or inconsistent with the values
- Outcomes – Awards/recognition, people fired or demoted for behavior inconsistent with values, image, audit findings, etc.
4 corporate value resources you may have missed:
- Value statements can be real business drivers – Values can be made to work when they are a genuine part of a company’s culture
- Having a purpose beyond profit – Connecting people to a purpose is an important way of helping them feel good about your company
- Stand out in a crowded market through corporate value statements – For many businesses, corporate value statements are little more than vague motherhood statements that sound nice but bear little relation to way business is done
- Use storytelling to communicate your company’s values – Many corporate communication plans fail to convey something fundamental to a company’s operations: its values. This is a missed opportunity to influence and energize employees
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