3 Reasons Why You Need To Define Your Company Values 

Having defined company values is the only way your employees will know what you care about most, and what is expected from them, and your entire team.

Simply stating, “we have a great Company Culture” without being able to define your values (and without putting them into action) doesn’t cut it anymore.

Your values must be communicated in all that you do because values are the core of every company…

…think of them as a ‘North Star’ that guides your team in unison, in the right direction; aligning with your mission and your company goals.

3 Reasons Why You Need To Define Your Company Values

There are many benefits associated with defining and communicating your company values. Your values can:

  1. Promote winning behaviours as your team will be on the same page and performing to their potential.
  2. Help you and your team make decisions on how you hire, fire and operate on a daily basis.
  3. Positively impact both Talent Acquisition and retention! Your values will resonate with the right people, they will stay with you longer, and they will refer talent to you should the opportunity arise.

In order for your business to scale, it’s crucial that you provide your employees – present and future – with what they’re looking for.

Recent data from Qualtrics revealed that 52% of [Gen Z] employees would take a pay cut if it meant working for a company whose values they aligned with.

This means that not only are a firm, defined set of values important to today’s workforce, but they are imperative – a dealbreaker even – for many. A lack of alignment may be detrimental to your culture, retention and overall success.

How to Communicate Your Company Values With Your Team

Your values need to be understood and embodied by your team. In order for this to happen, you must first formalize them and demonstrate them through actions. Consider the following methods to communicate them with your team:

  • Codify your values and “write them on the wall.” You can do this in your Employee Handbook, onboarding materials and even on your company website. Find a common gathering area at your office and post your values there as well, big and bold, where nobody could possibly miss them.
  • Ensure that your values are reflected in all of your workplace interactions, language and operations. As a leader, if you strive to set a great example, people will be inclined to follow. But if you’re not living your own values, neither will your employees.
  • Put them into action. A great way to demonstrate your company values and commitment to your team is by conducting Modern Performance Reviews and building your values into them. Praise people when they’re demonstrating your values as intended and coach them when there’s room for improvement.
  • Craft your job postings so that they communicate your overall company culture! This way, applicants will understand who you are and what you stand for. This helps to ensure the right people apply for the right roles more frequently!

What to Look For to Ensure Your Company Values are Resonating

It’s important to recognize what to look for to ensure your company values are taking hold with your team. And also to understand what to do if they aren’t.

Indicators that your values are resonating with your team:

That may sound overly simple, but, hear us out…

Employees who closely align with your company values and culture will feel comfortable being themselves at work. Thus, they will be happy and they will demonstrate and embody your values.

Happy employees are more likely to be productive, efficient top performers. They will go above and beyond and stay with you longer. They won’t mind staying a bit later from time to time to get a project over the finish line or attending events as an ambassador for your company.

And, when the time comes for you to hire, these types of employees will likely be eager to refer talent to you. If they love what they do – and are eager to share with people outside of work – odds are high that your values are having the desired impact.

Indicators that you need to revisit your company values:

If you’re seeing subpar performance, low morale and increasing turnover rates you may want to reconsider how you’re communicating your values with your team. Conducting an anonymous survey is a great way to gather insight and feedback.

Once you have an idea as to what needs to change, and how to make that happen, having some informal conversations, presenting new ideas and asking for employee feedback is a great way to show your team that you care. Pro tip: you may even want to dedicate a portion of your performance reviews to this methodology to be proactive!

It’s important to remember that you can always refresh and revisit your company values

…in fact, it’s healthy to do so as you continue to evolve as an organization!

Our Thoughts

Building a team where everybody understands your values and innately demonstrates them through winning behaviours, attitudes and the work they produce is key to growth.

Communicating what your company values early (as early as the job posting and interview process) will positively impact your talent acquisition process. On the other end, your retention rate will improve as you identify and hire people who align with your values and culture.

With an aligned and like-minded team, your company will function closer to its maximum potential! Once you’ve got a group of highly engaged top producers on your side, you should consider implementing an employee referral program. This can incentivize your employees to spread the good word about what’s happening at your company. In turn, you’ll find more A-players to add to your team.

If you aren’t sure if your company values align with your mission and vision – or, if they’re even resonating with your team – consider revisiting them and gathering feedback. Remember, values are crucial to your company’s growth and success!

If you need some help implementing and establishing your company values, that’s also perfectly normal. This often takes a bit of time, effort and finesse. Castle HR can help you discover the best strategies to communicate your company values with your team so you can continue growing your business!

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