The importance of company values
1. Company values must reflect the values of the staff
Company values are more important than we think, as they create the cultural context in which we work, define how we interact with other employees, and the attitudes we adopt toward customers. Company values are often perceived as imposed by the organization, but an effective organizational culture allows for a two-way process to occur whereby employees help influence the direction of the corporate value system through their individual beliefs and approaches. that they adopt An organization that does not adjust to reflect changing values will quickly become stagnant and outdated.
2. Company values define how employees behave
Company values are essential to the day-to-day approach employees take in the workplace. Different organizations can encourage different behaviors in their staff through their company values. For example, an organization that has clearly defined policies on employee conduct and behavior is likely to create a culture where respect for other staff and customers is high on the agenda.
Alternatively, an organization that has few formal policies related to employee behavior in the workplace leaves it up to the individual employee to define their own sense of what is and is not appropriate. This can lead to conflicts with other members of staff, as one individual’s concept of what is acceptable behavior may differ greatly from that of another colleague.
3. Company values provide stability
Employees like to work in a stable and safe workplace. Company values create order and allow the work environment to run more smoothly. Without the company’s values, there would be no homogeneous process for achieving objectives or dealing with situations that arise, which would leave personnel exposed and vulnerable. When company values exist, they provide employees with a clearly defined approach to working life.
4. Company values are important to customers
Company values are not only important to employees but also to customers. Some clients choose to use the services of one company over another because of the value base they have chosen to follow. Those organizations that take ethical approaches to their business dealings through offering fair trade agreements or are perceived as less exploitative often benefit more in the long run from customer loyalty than those that simply seek to make a quick buck from any cost.
Nowhere is this highlighted more sharply than within Chinese companies, which over the past five years have churned out billions of dollars worth of cheap goods with little or no regard for employee welfare, the effect their dispossession is having resources in other countries and lack of respect. for health and safety guidelines.
It is only recently that Western consumers are realizing that the business values of many, but not all, of these Chinese companies are profit-oriented, not security-oriented.
5. Company values provide a standard approach
Customers also like to know what they are getting, and company values often play an important role in this process. Take, for example, a company like MacDonald’s. They have clear values for how they interact with customers, and their approach to business is nearly identical across the globe. You know that if you walk into a MacDonald’s restaurant in Russia, the UK, Australia, the US or anywhere in the world, you are likely to be treated the same way. Customers like this because they like to know what they’re getting and the company’s values are important in achieving this.
Summary
Finally we must remember that a company is only as good as its constituent parts, in this case its employees. If employees did not come to work, the company would not exist. As such a company is not an entity in itself, it cannot think or act for itself and therefore its values are in fact only a reflection of what its employees consider important. As such, organizational culture or values need to constantly change to accommodate the diverse needs of your staff.