Chances are, you’ve heard about the definition “company core values”, but you’re not quite sure what it means and why it’s important for companies to define them.
In that case, you’ve come to the right place.
Without further ado, let’s dive deeper into the world of core values and help you understand everything you need to know.
What Are Company Core Values?
Company core values are clearly stated principles regarding the company’s vision, mission, and objectives. The goal is for the entire organization to align around a common philosophy, and create a company culture that serves both employees and customers.
In essence, having core values ensures that all your employees are working to achieve the same goals. Running a business without defining core values is like having a dog without training it to follow commands and obey orders.
Although it’s still the dog you own and love, things can get quite chaotic in the long run, and it will most probably affect you negatively.
Not having a core values statement will likely harm your organization in ways you can’t even think about before they happen.
Let’s further elaborate on the importance of core beliefs.
Why Are Core Values Important?
Company core values are important on many levels. As stated above, they are the DNA of your company. Moreover, they make your business unique compared to competitors, and they create a company culture that could drive your organization forward.
To work, your values must be meaningful and authentic, something that resonates with your company and its employees.
Furthermore, keep in mind that these principles dictate your worker’s overall behavior, and inspire them to action.
Here’s a list of the main reasons why having core values is important:
- Help your employees make the right decisions
- Improve employee morale and communication
- Your clients understand what your company stands for
- Help your company attract and retain top talents
- Lure customers with the same values
To back it up with facts, here are some essential core values statistics you need to know in 2022.
- 46% of job seekers state that company culture is important to them.
- 86% of job seekers would avoid companies with bad reputations.
- According to 91% of managers in the U.S., a fit in the company culture is more important than skills and experience.
- 15% of candidates turned down an offer because of the company’s culture.
- 88% of employees believe strong company culture is the key to business success.
- More than 50% of executives say that positive working culture is a vital aspect of running a successful business.
- 51% of employees in the U.S. report that they neither like, nor dislike, their job.
As it turns out, company values are important not only for your customers and current employees but for attracting new talents, as well.
Company Core Values Examples
All companies, big or small, must know the importance of transparent company culture. That’s why we’ll take a look at some great examples of core values by different companies, each of them unique and in line with the vision and mission of the respective company.
- Never settle
- Get it done
- Think deeper
- Stronger together
- Focus on the user and all else will follow.
- It’s best to do one thing really, really well.
- Fast is better than slow.
- Democracy on the web works.
- You don’t need to be at your desk to need an answer.
- You can make money without doing evil.
- There’s always more information out there.
- The need for information crosses all borders.
- You can be serious without a suit.
- Great just isn’t good enough.
- Customer Obsession
- Invent and Simplify
- Are Right, A Lot
- Learn and Be Curious
- Hire and Develop the Best
- Insist on the Highest Standards
- Think Big
- Bias for Action
- Earn Trust
- Dive Deep
- Have Backbone; Disagree and Commit
- Deliver Results
- We build globally, we live locally.
- Be customer-obsessed.
- Celebrate differences.
- Do the right thing.
- Act like owners.
- We persevere.
- Value ideas over hierarchy.
- We make big bold bets.
- We dare to design the future of sport
- A team that’s empowered, diverse and inclusive
- The world is our community
- A fair, sustainable future for every athlete
- Diversity and inclusion
- Corporate social responsibility
- Trustworthy computing
- Creating a culture of warmth and belonging, where everyone is welcome.
- Delivering our very best in all we do, holding ourselves accountable for results.
- Acting with courage, challenging the status quo and finding new ways to grow our company and each other.
- Being present, connecting with transparency, dignity and respect.
- Put members first
- Trust and care about each other
- Be open, honest and constructive
- Act as one LinkedIn
- Embody diversity, inclusion and belonging
- Dream big, get things done and know how to have fun
- Dream and curiosity
- Integrity and sincerity
As our last example, let’s take a look at our very own core values, here at DevriX.
DevriX Core Values
- Never stop learning
- Own accountability
- Be a community citizen
- Evolve and adapt
- Burn with passion
After taking a look at these great company values lists, one can’t help but think: what makes these values so good, and how did the companies choose them?
Truth is, there is no universal answer, as it does depend on your type of business and brand identity.
However, there are some guidelines you can follow, in order to determine the right core principles for your business.
How to Write Core Values
After so many great company core values examples, you might be wondering what is the best way to approach your own values. How do you define and write them down?
First of all, you need to brainstorm ideas about potential principles. Ask different people in your organization what they think about your current values (if you have such) and what they would like to see as part of your company beliefs. Create a thorough list of potential values to review.
After that, group similar ideas and remove those that are not a great fit for your company and the culture you want to display. Cut the list until you have around ten left. Then, think about which of these, that are left, are truly vital to the success of your organization.
Also, make sure to leave values that are manageable, as you will want to use them in training, brand establishment, and both internal and external communications.
Once you have decided on what you want to communicate with your company values, write them down as bullet points. In addition, think how you can edit them to sound easy to understand and simultaneously convey a powerful message. Afterward, gather feedback from colleagues, management, and clients to ensure that you have a finalized and ready-to-use version.
The final step is to let everyone know about the core principles of your organization. Think of a way to introduce them to your employees and customers. It could be a newsletter, or a page on your website, depending on your business.
Also, it’s important to be persistent when establishing and distributing them, as people need some time and reminders to get used to new work implementations.
For example, you can create a landing page on your website, make them into a nice design, and print them on paper, which you can place around your office.
Other activities you can do to promote your new principles include training sessions with the team and gamifying the process with rewards. Also, you can use your internal communication tools to spread the message – emails, websites, prints, and so on.
From thereon, what’s left is to stay true to your values. After all, it’s all just words. If you don’t back them up with a mindset and respective attitude, they have no real meaning.
Here’s a quick recap on how to write company core values:
- Brainstorm and gather ideas
- Create a list of potential values
- Edit the list until you have around 10 left
- Refine and finalize the list
- Gather feedback from employees and customers
- Prepare the final version
- Share your core values
Company core values are the backbone of your business. They are a vital part of employee retention and attracting the best available talent.
In addition, customers will be more likely to choose your services, in case your company values are related to theirs, and they will expect you to keep living by those values.
Whatever the case, the importance of core values is undeniable. The tricky part is to define them in a way that you’re able to follow through, and they really become a synonym of your brand identity.