What are core company values?
Core company values are the main principles that guide companies in continuously prioritizing their mission, vision, and goals. Core values serve as an anchor for everyone, from CEOs to customer service success reps, steering them to make aligned, goal-oriented decisions.
Why are core values important to a company?
Establishing core values may seem like an unnecessary formality. But core values are the source of a company’s identity, ethos, culture, and brand.
Core values unite the different departments with a central, underlying philosophy. While each department may have specific objectives and priorities, core values integrate all departments into one cohesive body.
The human body’s core supports and stabilizes the hip, stomach, and back muscles, enabling simple movements such as standing, walking, and bending or challenging ones like flips or pirouettes.
A company’s core values have a similar purpose, allowing the company to function as a unified body, make simple and complex decisions, progress towards goals, establish a strong culture, and achieve business growth and success.
How many core values should a company have?
Too many core values result in a mixed salad of vague concepts. Instead, trim down your ideas to five to ten core values. Prioritizing the essential core values provides everyone with clarity and direction.
What are some good examples of core company values?
Core company values should accurately and holistically reflect the company’s unique mission, vision, and goals. Let’s take a look at two examples of core company values.
- Grow to what we go through
- Build the exceptional
- Bring me, win as we
- We do what we say
- Interact with transparency and openness
- Trust and empower each other
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How can you create core values for your company?
It’s okay to ignite the brainstorming process by studying other companies’ core values. But when it’s time to write your own, look inwards to your company and people.
Establishing core values is like peeling an onion: By answering some essential questions, you can peel off the layers to get to the core of what your company is all about. Here are several questions to help teams discover and define their core company values.
- What does your company offer? Why?
- What drove you to start your company?
- What are your personal values, and how do they align and support your business values?
- Imagine your targeted customer. What values do they appreciate, and what do they want to receive from your company?
- What values do professionals need to thrive in the company and help it thrive?
- What values do you look for in job candidates?
Why should core company values be part of modern HR strategy?
Today, people are looking for more than just a job that pays. They’re looking to fulfill their potential and purpose. By establishing and adhering to core values, companies can define their identity and thus attract and engage people looking for a more meaningful work experience.