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Core values define your organization’s identity – what makes you unique. Core values support the vision and mission and create the culture of your organization – which I like to call “the water you swim in.”
Core values should be enduring, they should not change significantly over time.
We understand what core values are, but why are they so important?
Core values help your staff make decisions. For example, if one of your values is quality, then it is an easy decision to stop the production line if the products are below quality standards.
Core values differentiate you from everyone else. It is valuable for you to stand out in the crowd. Zappos stands out from other online sellers because of their unique approach to living their values.
Core values attract the right employees. If potential staff understand the values they can decide if they would “fit” into the organization before they apply.
Core values help with retention of employees. People who “fit” your organization will stay longer, which means reduced costs to hire and retrain new staff.
The bottom line is this: Core values create competitive advantage. Core values help you communicate your organization’s culture, which in turn attracts potential employees, clients and suppliers. And this has a positive impact on your bottom line!
Want to learn more about core values? Read www.valeriemacleod.com/google-and-why-understanding-values-is-important/ or contact me Valerie.MacLeod@HainesCentre.com
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