Misconceptions and skewed preconceived perceptions swirl around the concept of company core values. In fact, companies that have already outlined their company core values often make at least one of the common missteps related to their core values outlined below. Those who haven’t developed core values yet might avoid making them based on these faulty but common perceptions. As we enter into the latter half of the year, it’s the perfect time to revisit your company core values (or begin work on creating a core value statement) and make sure you’re not falling into any of the following thought traps.
Top management’s leadership style is aligned with your company’s core values
The assumption that your top management team’s leadership style is aligned with your company core values can be a risky one. Especially in today’s constantly changing business landscape with employee turnover and agile work styles, management may not always have a strong buy-in to the overarching company core values. With strong training methods, tight communication and measurement efforts, this misconception, and the problems it can cause such as depleted morale and employee turnover, can be averted.
All employees know and understand the company core value statement
Upon walking into most mid to large-sized corporations, you’re likely to see a company core value statement posted on the main entrance’s wall or neatly framed on the CEO’s desk. A common misperception made by these organisations that have gone to great efforts to create the company core vision statement is that all their employees know and understand the message. While the workforce at large may be able to recite the company core values (or may not), even the most conscientious among them may not truly understand how these lofty values are translated into or impact their day-to-day activities.
Company core values add no value to the organisation
While it does take some sincere effort to create and then disseminate company core values, it is not a fool’s mission. Companies that have solid core values permeating through their management and workforce teams enjoy many invaluable benefits such as improved morale, higher productivity, lower turnover, increased innovation, improved customer experience and satisfaction as well as recruiting advantages. In fact, a recent study put out by Amp Insights indicated that 79% of millennials want to work for a company that cares and offers positive cultures and strong core values.
Company core values don’t need to be reinforced
Assuming that you’ve communicated your company core value to your team once and all is good to go is an extremely common mistake. Reinforcement of the company core values is key to their effectiveness. A communication strategy to help keep the company core values top of mind is an important element to the success of the words you’ve so carefully crafted.
Core values are not relevant in the recruiting and hiring process
Nearly all organisations incorporate training around core values into their onboarding process, but they are often overlooked during the recruiting and interviewing effort. By seeking employees that naturally match your high-level company core values, you’ll be adding players to the team that are already aligned with your culture and your goals. As recruiting top talent becomes harder and culture factors more deeply into the job seekers’ choices, core values become more and more essential to the overall hiring process (see common misperception #3 for more details).
It’s not possible to measure company core values
The savvy business person would say no effort is worth making if it can’t be measured. And, company core values, contrary to common misconceptions, can absolutely be measured and should be. Using HR technology tools, you can define and measure KPIs that shed light on the adaptation and effectiveness of your company core values.
StaffCircle, leading HR software provider, provides a complex tool that helps businesses solve many of the challenges related to creating success-oriented core values that permeate through all aspects of the organisation and whose effectiveness (or possibly lack thereof) becomes easily quantifiable. The StaffCircle tech supports your company core values initiative through:
- Powerful performance management tools – Using StaffCircle, your management team will be able to ensure employees are aligned with the company core values from a single point of communication and in a uniform approach.
- Effective feedback loop – Always keep the feedback loop open with the use of StaffCircle’s robust survey feature.
- Comprehensive communication function – From mobile app to intranet to SMS, your options for communicating (even with rich media like videos and large files) with even the most spread out teams are full-scale.
- Metrics galore – Multiple data points can be used to measure your company core values from performance management tools tied to the core values to visual dashboard with key metrics to open vs. unopened stats on information dissemination.
Don’t fall victim to the common misconceptions related to company core values, get started today with the help of StaffCircle’s powerful HR technology suite.