Exploring the success of enterprises around the world has shown that the idea of value-based business has a lot of merits. Companies that create their internal culture based on specific values are more likely to connect with the consumer on a deeper level. Everything from the business’s branding to its advertising can be unified under the ideals of the values it represents.
Aside from making it easier to connect with the consumer and market, business values create a company culture that is uniform and helps keep employees happy. Fifteen experts from Forbes Human Resources Council look at the most critical values a business should cultivate, and why they are so crucial to the organization.
Making your expectations clear is essential to keeping your team members on the same page and helping them feel like they are contributing to the company’s success. This also keeps the company, as a whole, moving toward its overall mission, and it can serve as a guide when making tough business decisions. Clarity keeps confusion, resentment and negative competitiveness out of the company culture. – Laura Spawn, Virtual Vocations, Inc.
Many companies use integrity as a value and I believe it is of the utmost importance. Taking it a step further, goodness encompasses integrity and a commitment to doing good for customers, communities, employees and the environment. Goodness is the fullness of a socially responsible/conscious business with integrity. – Candice McGlen, The Rinker Group
When you are intentionally practicing gratitude, the benefits are enormous. As a value, gratitude is the No. 1 value a successful company can have. Infused in the culture, it reminds you to recognize your peers, managers and customers in a sincere way, and gives you an operating principle that supports mindfulness, empathy, collaboration and a sense of well-being. – Cat Graham, Cheer PartnersForbes Human Resources Council is an invitation-only organization for HR executives across all industries. Do I qualify?
When you are intentional about your behavior and thinking and ensure the way you are and the way you operate are aligned, you provide a clearness to others and your environment. Integrity is about doing the right thing even if no one is watching you. It embodies a consciousness of trust in the way we do things in our practice. – Tasniem Titus, Dentsply Sirona
At my company, empathy is one of our core values we believe every company should have. Empathy helps us realize important needs for our customers, vendors and internal employees, without which it’s impossible to learn and act on our stakeholders’ needs. – Sandeep Purwar, Bevov, Inc
Companies drive the best business results and have the best cultures when employees have passion for the company and what they do. So hiring people who have passion for the businesses you are in helps a lot! The key is honing skills in identifying those people who are passionate for your business. – Diane Strohfus, Betterworks.com
Simplify. Many of us tend to overcomplicate things by focusing on achieving 120% solutions, but what if 80% solutions are enough? Time is money, and projects can become obsolete by the time we finish them, if we complicate rather than simplify activity. – Anne Iversen, TimeXtender
8. A Growth Mindset
Studies show having a growth mindset is important in school. Yet, we stop talking about it after we graduate. Those with a growth mindset believe they can improve their talents through hard work, having input from others, and learning. This value can create empowerment, collaboration and innovation for any organization, and cultivate a culture of “yes, and.” – Kelly Loudermilk, BuildHR, Inc.
9. Embracing Failure
Failure is inevitable in business. Instead of fearing failure, organizations should encourage employees to embrace it. By doing so, as employees pursue innovative solutions and take calculated risks, when failure occurs, the focus will be on the lesson so that we can do better and be better. Failure then becomes a teacher of wisdom. Failure then becomes a necessary process to achievement. – Bridgette Wilder, Wilder HR Management & EEO Consulting
10. Customer Service Excellence
Great companies know brands start and end with people. Innovation is deeply customer-centric, using data to ensure engagement and impact. Deliberately build processes to meet customers’ needs/wants, and deliver by providing effortless experiences. Invest in employees. Top brands are known for culture, inspiring workplaces and causes. Activate the power of your people — top brands build from within. – MJ Vigil, PEMCO Insurance
Transparency should be a value that all leaders stand by. Transparency builds trust, promotes happiness and engages employees. It can be easily done by updating the entire company on a regular basis, keeping all necessary employees aware and a part of the strategic vision of the company, and ensuring your employees have opportunities to ask questions and get answers. – Cameron Bishop, SkillPath
12. Courage To Innovate
To succeed, especially in today’s digital era, demands the ability to evolve. One of our company’s values — “We have the courage to innovate” — empowers our employees to take the necessary risks to cultivate innovation, which drives sustainable growth. We recognize that the risk of the status quo may be far greater than the risk of transformation. – Marilyn Tyfting, SVP & Chief Corporate Officer at TELUS International
Trust — between employers and leaders, between employees and colleagues, and between the organization and its customers — is critical. Employees who are treated like grown-ups and trusted to get their jobs done are more likely to be engaged with their employer. Communication, manager support and adequate resources to get the job done are all part of building that culture of trust. – Joyce Maroney, Kronos Incorporated
Respect is the one value every company should have. It is important for an organization to establish respect as a company value because it is the foundation for other values and promotes diversity and inclusion. People come from all different backgrounds and experiences. When there is respect, there is more productive problem-solving and collaboration that produces greater results. – Sherry Martin, OmniTRAX
15. A Giving Spirit
The public is more critical of companies that prioritize profits over all else, including their employees and communities. Customers and employees want to align with companies that give back, which demonstrates that their success benefits more than executives and stockholders. By creating community service programs, employers can help those less fortunate, while simultaneously helping themselves. – John Feldmann, Insperity