5 important business values
Business values are very important to a company and most companies do not realize their importance until much later in their development process. It often happens that a company decides to focus on other things more important than establishing the company’s values, but only seems to be more important at the time only to realize later that they are not.
Company values play an important role in the development of the company and how people view it. Employees and customers will understand your company much better if your values are established and clear to everyone. Whether one of our company values is determination, patience, or perseverance, it doesn’t really matter, as long as it’s clear what your company is about. Having some strong values like the courage to try new things or the balance that presents stability and strength will go a long way in many ways and will also help your company to establish a better connection with potential customers and employees.
These are the five reasons why company values are important and should be clear and understandable from the beginning.
Help your employees be better at their jobs
For a businessman, one of the most important assets is his employees and businessmen know that in order for their company to prosper and advance, they must show patience with their employees while guiding them through the process so that they can do their jobs much better and help them be more efficient when they work.
Many people approach this the wrong way, and it often leads to many of the best employees leaving the company because the boss abused their position of power instead of coming from a place that shows balance and understanding.
Also, it is advantageous when you can break down your company values and full purpose of your company to your employees because many struggle with the fact that they are not sure where they are going and lack the strength and courage to follow through. advance when they are not sure. This is where explaining your company values comes into play, because you will be able to provide your employees with the resilience they need in difficult situations because they will know what they and your company stand for.
Basically, your company values would surface once you answer the question:
“Why does my company exist?”
Improve your work environment
As employees are one of your most important assets, you need to nurture them properly and create a pleasant work environment where they are satisfied, motivated and engaged all at the same time.
When it comes to employee satisfaction, everyone assumes that it’s mostly about their salary, and while it plays a big role, it’s not the only thing that matters. Aside from adequate pay, employees want to be treated well when they’re working, in terms of what they bring to the company, and it’s not always good to point out the negatives in what someone is doing. It’s often important to give credit for positive things an employee has done well to build her confidence and determination. On the other hand, if someone is goofing off too much, you should be firm with them and show them that your patience is wearing thin through simple conversation that can take the form of an evaluation. A review shouldn’t be about you showing that you have power over your employees and can fire them at any time, it should be about asking questions and trying to understand the employee’s position and then finding a solution that you’re both happy with. it is often approached as common ground.
Once your employees are satisfied, motivation will follow because people who are happy with their jobs tend to be much more productive.
Increase employee engagement
Once you have established your company values and are clear what they are for your employees and have managed to create a work environment that your workers find satisfying, it is time to work on employee engagement, which can be achieved by following these steps :
- Work hard and commit yourself so you can lead by example.
- Accentuate collaboration so the productivity of the entire team soars.
- Communicate openly with your employees and let them know they can do the same with you and with each other.
- Use the same network technology to improve the way you communicate and grow your network
- Gather feedback from your employees to show them that their opinion matters and that they have a say in what’s going on.
- Make sure you are as transparent as possible because this is probably the most important thing involving employees.
- Try to implement different types of games in your company culture that will make everything more fun.
- When someone does something right, acknowledge them by giving them a reward to ensure that they are properly motivated to do it again and that others are motivated to follow in their footsteps.
Employees who are highly engaged are actually those who have clear goals ahead of them and know exactly what they need to do to achieve them, and aligning their goals with company goals is what every businessperson should strive for.
Make sure your customers know what your business is about
The values you have for your company must be clear to everyone, not just your employees, so you will have to make sure that your customers know and understand them as well. The values you present will help your customers and many potential customers educate themselves on what your company is all about and make your company’s identity clear as day. When your company values are established and clear to both your employees and customers, it can be a huge advantage over other companies in the same niche that don’t have clear values.
An example of this would be easier to understand if we take responsibility as one of your company values that will attract customers and customers who value companies that can be held accountable if one of their products or services is not as advertised. .
Make your business desirable to new talent and clients
Transmitting and being clear about your company’s values will surely attract new talent that likes and respects what your company is. Many successful companies that have clear values are able to get a lot of talented candidates, but they are also able to keep talent in-house instead of constantly rotating employees.
The same goes for customers too. Once the client sees your values and identifies with them, realizing that it is something he wants from a company, he will choose your company over others that do not have clearly defined values. You will also be able to win many customers by establishing clear and strong values from the beginning.
Famous companies and their values
Google
Google as a giant company has very good and solid values that differentiate it from many others and its values are clearly transmitted to the world:
- Focus on the best user experience
- fast over slow
- Web democracy works
- do one thing extremely well
- honesty and integrity
- You can be serious and efficient without wearing a suit
starbucks
This coffee chain with hundreds of open stores around the world also has some strong values that they publicly share and stand behind:
- Create a culture where everyone can feel warm, belong and welcome
- Courageous acts, confronting the status quo and discovering new ways to grow our company and each other.
- Presence, respect, dignity and transparent connection
- Give the best of ourselves in everything we do, being responsible for our actions.
- We are driven by performance, through humanity.
Spotify
A recent addition that stood out from the pack and established strong values for their company is Spotify and their values are:
- we are innovators
- we are collaborative
- we are sincere
- we are passionate
- we are playful
His values are quite simple but crystal clear and many people can identify with them.
Intercom
Another company with a great set of defaults that other companies can learn from is Intercom. Its values are:
- We start small and simple with anything we take on as a task
- We are trying to be extremely pragmatic.
- We submit good work as soon as it’s done, learning and improving as we go.
- We like to experiment and play taking calculated and advised risks.
- We are prepared so that we will often fall when we do.
Conclution
Although it may seem like a small thing, establishing business values is one of the first things a company should do to show the world what it’s about and attract talented workers and potential customers.
Your employees are very important assets who need to know your company values so that they can set their goals and easily identify with your company to be better, more productive, more creative and engaged when they are in the workplace.
Potential customers will have an easier time choosing you over your competition if you have clear values in place for your business.
There are many values you can choose for your company, but it is very important to live by them and let the world know what your company is about.