For a business to thrive, genuine core values are invaluable! Core values can set a company apart from the competition by clarifying its identity and serving as a rallying point for employees. But fake core values generate a cynicism that poisons the cultural well and wastes a great opportunity. The problem is that coming up with strong values—and sticking to them—requires a high degree of fortitude and grit… real moxie. Indeed, an organization considering a core values initiative must first come to terms with the fact that, when properly practiced, values can inflict pain. They can make some employees feel like outcasts. They can limit an organization’s strategic and operational freedom and constrain the behavior of its people. They could leave executives open to heavy criticism for even minor violations. And they demand constant vigilance. In other words, it takes work for a business to have meaningful core values. Companies unwilling to accept the pain of real core values shouldn’t bother going to the trouble of formulating a values statement.
Those organizations with genuine commitment to values will reap the benefits of what those core values bring, including: improved morale, organizational pride, cohesiveness, well-defined priorities, positive employee attitudes, less conflict, greater recruiting appeal, heightened innovation, unique brand positioning, and more satisfied customers. The first step in establishing core values for a company is to consider what core values are — and aren’t — and examine companies that have successfully adopted core values into their DNA. Continue reading