Mindset

3 Benefits to Establishing a Company’s Core Values

Some of our team came back from a business course with the concept of defining our company’s values. As we went through the implementation process, it became obvious that a lot of the issues we had been having in recent times could be attributed to not having defined company values.


Our company values are now guidelines for all our employees

Core values build a strong company culture

Since defining our company values, the benefits to our business, our customers and our people have been huge. Our company values are now guidelines for all our employees. They help inform decision making and keep our communications with each other at a professional level.

Growing pains

Our company has had significant growth, going from 16 staff to over 60 in four years. One of the challenges with a fast-growing company is holding on to a strong, supportive company culture. Apart from the challenge of recruiting the right staff, an influx of new staff and a correspondingly larger group of managers increases the number of people making decisions, increasing the risk of the wrong decisions being made.

Without core values being considered, decisions become totally orientated around business goals, which can lead to outcomes that are detrimental to the business in the long term, or which affect staff retention.

Through the process of defining company values, we’ve established a strong company culture within our workplace.

Key benefits of company values

According to Forbes, the benefits of a solid company culture include:

Company goals

A company’s culture is its identity and direction. It’s a combination of who they are and what they strive for. For example, if your company culture is one that communicates and prioritises goals, your employees will be more likely to endeavour to achieve goals as a team.

Staff retention

Employees are a company’s best asset. A good company culture attracts quality staff, but more importantly, it helps keep staff. Companies that invest and make their employees feel part of the organisation have greater staff retention.

Brand image

The Harvard Business Review identifies brand as culture and culture as brand. A successful brand image is formed when you treat your employees well and have a respectful and caring atmosphere. When your customers have a positive experience every time they come back, that’s what builds your brand reputation.

In Conclusion

Establishing our core company values has given us a basis for our decision making and recruiting. It provides a reference point when disagreements arise or when there are behavioural issues with staff. Our values also provide an insight to potential staff and clients to what our business is about.

If a company has a good culture it probably means that it has good underlying core values. Establishing what those core values are and communicating them to the rest of the business is just as important.

  • Establishing company core values has helped us maintain a good supportive culture in a growing company.
  • Company core values provide a basis for consistent decision making across the business and ensure that long-term effects of decisions are considered.
  • A company’s core values become an important part of the recruiting process helping select people that fit within the company culture.
  • A company’s core values help with staff retention, as people can buy into stated values that they believe in.

AroFlo’s core values are the essence and spirit of our team. Our values are what we’re most proud of, and they shape and support our vision.

Author – Guy Arrowsmith
Founder and CEO of AroFlo

Category
Mindset
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Article details
Updated
May 11, 2018
Author
Guy Arrowsmith
Category
Mindset
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