Do your Values work for your business?
Any time is a good time to review how you appreciate and value your staff, but now as they return to the office is especially so, and taking a close look at your Values can play a key part in this.
I am always impressed when I visit a company and they have their values proudly displayed in reception.
What is less impressive is that when asked about them, many employees do not know what these values are, and more importantly what they really stand for. In visit to a prospective client last year, a large insurance company, the receptionist who had been with the company for three months and was sitting next to the value statement told me she had not read it, and no-one had mentioned it to her during her induction. She has no idea what they were for!
On a recent HR Zoom Summit in the U.S. a key discussion focused on the importance of company values in understanding and improving employee engagement.
“Employees who believe their company’s senior leaders support and live the company’s values are much more committed to their employers, with significantly greater levels of workforce engagement resulting.”
It sounds easy – However, fewer than 50% of employees know their company values, and 75% say that they don’t believe in them. If this is the case, it seems to me that senior management should be spending time ensuring that their staff really do understand the values that are driving their company, and the importance of these values to the business.
If your values are old and out of date, replace them with something relevant and meaningful.
Starting out is not difficult. The following basic principles will go a long way to ensuring success:
- Clearly define your organisation’s values and make them specific. Having “Customer Service” for example, is not good enough – what do you want Customer Service to look like in the business?
- Explain to your staff why these values are important to ensure business success – how does the business benefit when these values are “lived?” What do these behaviours look like on the shop floor, and what is “expected” as standard and what behaviour is above expectation? Clearly define what each value looks like and recognise those employees who live and exceed these values.
- Recognise and celebrate the values to all staff constantly and consistently – highlight and recognise staff who are living by your values, so it becomes real to them. Seeing who is recognised and why will create momentum.
- Show that you live the values – from top management down – if your staff don’t see you ‘walk the walk’ why should they?
Following these simple principles is likely to encourage your employees to become more passionate about your company, which will give your organisation a better chance to do great work and be successful.
Helping to recognise your employees who live your corporate values is a good place to start with your culture of appreciation.
Thought leading organisations around the world understand the value of passionate employees and what they bring to their business.
They appreciate the correlation between passionate and engaged employees, and brand value and corporate performance.
Engaged employees are proven to take fewer sick days, stay longer, are more productive and deliver greater customer/guest experience.
With the Covid pandemic platforms like Brownie Points have been important to clients to ensure that their employee’s health and wellbeing and inclusion is front and centre of the corporate psyche, while recognising their extra contribution and dealing with increased stress levels caused by staff shortages or absence.
With Gallup predicting 2022 as the year of Talent Wars, a clear retention and attraction strategy as part of your employee recognition plans should be front and centre in your fight to remain competitive.
Ensuring your Values are still aligned with your corporate goals and vision will help make a significant contribution to your competitiveness and an employer of choice.
After all, if you don’t value your employees your competitors will.
Tony Delaney, CEO Brownie Points
