Definition of company values
Company values are the core values or principles that govern the way you do business. They summarize what your organization stands for and greatly impact the organizational culture.
A clear set of core values will differentiate you from the competition.
Moreover, they enhance the cohesion among the organization and generate a better level of engagement for your employees.
Your business plans and strategy may change over time. Still, the company values will remain the same, and you need to consider them when making strategic decisions for your business.
Company values are not just words, nice to have on your website and internal documents. These statements can drive change and innovation, so make sure you focus on them.
Remember that the company values work closely with the mission and vision as part of the strategic action plan.
Importance of company values
If you don’t have company values, it’s very difficult to know what you want to achieve and what steps you should be taken. Let’s see how can a set of core values make your company successful:
- Enhanced internal communication: when establishing values that include transparency, a general policy of openness, and personal responsibility, you will automatically improve the collaboration area. Employees are more inclined to communicate efficiently to accomplish a shared goal. As a result, productivity will also increase, and your employees will enjoy living by those values.
- Better decision-making: if your employees know what your organization stands for, it’s easier for them to make good decisions that are in sync with the core values. Think of these as the higher moral boundary, allowing your employees to overcome difficult situations and conflict more easily.
- Higher levels of employee engagement: when people feel a connection with the organization and the employer, they are more likely to pour their everything into a day’s work. They feel more motivated, are satisfied, and greatly help the company to succeed. Having a sense of purpose is crucial for most people, so take advantage of this if you want to improve employee engagement in your business.
A survey has shown that 65% of employees would accept lower pay before dealing with a modest workplace environment.
A happy, motivated employee is also a great ambassador for other potential candidates.
- Creating a good reputation: having a clear set of values will attract the employees you need and want. They will be more likely to join your company if they feel they resonate with your values. So it’s also about creating an “outside” image, not just the “inside” aspect.
Surveys revealed that 63% of consumers prefer to purchase from purpose-driven brands. A rather high percent, right?
- Better customer and client experience: your core values will also be revealed in your relationships with clients and customers. A great set of values will make them appreciate your organization more and allow them to know what to expect from you.
All in all, it’s pretty obvious that the company values impact all areas involved in your business, from the development of your product/service, to the sales strategies, the employer branding aspect, and the customer experience your end up offering.
"Values are like fingerprints. Nobody's are the same, but you leave 'em all over everything you do." – Elvis Presley
How to define your company’s values?
Before embarking on this journey, you should closely observe your company’s mission, vision, and culture. Keep in mind some tips on how to design your core values:
- Don’t overdo it - your values should be short, clear, easy to understand, and adhere to your culture. Make sure you create a set of values that every single one of your employees can easily understand.
- Make them specific - don’t use vague corporate language. Your values should sync with your company’s goals, mission, and culture. Plus, they should be relevant to the product/service you are offering.
- Be unique - make sure your values separate you from the competition; you don’t want to look ordinary to the outside world. Examine to see what is it that makes your company special and apply those aspects to your values.
The legendary founder of Apple, Steve Jobs, has a great way of speaking about values. Check it out.
Top Company Core Values Examples
Not many companies have identical core values, but sometimes it’s easy to spot similar aspects since having a good set of values comes down to the same principle: doing the right thing. Nevertheless, some values are found in many companies simply because they focus on the employee or the customer. It’s basically the same concept everyone wants to concentrate on. Some of the most common core values include:
- Employee development
- Customer experience
- Diversity and inclusion
- Dignity and respect
- Constant improvement
- Result oriented
- Hard work
- Product/service quality
- Service excellence
10 inspiring company values examples from popular companies
There are so many impressive companies that can be a true inspiration and should be a point of start when creating a set of values. We will check out 5 of them, and we encourage you to find the others you believe are great at this!
A well-known brand, created in 2007, a global community of hosts and travelers, is definitely an example to observe. Here are their core values:
- Champion the mission
- Be a Host
- Embrace the Adventure
- Be a Cereal Entrepreneur.
The innovative tech company has very clear and short values, a great plus for keeping employees engaged.
Salesforce is one of the most appreciated customer relationship management (CRM) platform. Their core values are extremely focused on the customer and employee experience on the company story page.
- Customer Success
Microsoft is a multinational technology company, well-known worldwide for products like Windows and Office suite (Word, Excel, Office). Their values align with their mission, culture and serve as a declaration of they treat each other internally, their customers, and their partners.
- Respect: We recognize that the thoughts, feelings, and backgrounds of others are as important as our own.
- Integrity: We are honest, ethical, and trustworthy.
- Accountability: We accept full responsibility for our decisions, actions, and results.
Canva is an online design and publishing tool launched in 2013, which is gaining more and more popularity in the present day. Here are the values they believe in:
- Make complex things simple
- Set crazy big goals and make them happen
- Be a force for good
- Empower others.
Known as the largest coffee company in the world, the Starbucks business stands for these values:
- 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.
Discover these values and much more about the Starbucks culture.
Known for Jira and Trello, Atlassian is a leading provider of collaboration, development, and issue-tracking software for teams. These are the values that highlight what they do, how they create, and who they hire:
- Open company, no bullshit
- Build with heart and balance
- Don't #@!% the customer
- Play, as a team
- Be the change you seek.
Learn more about these and the meaning of each one.
Merck & Co., Inc. is a global health care company. The Company offers health solutions through its prescription medicines, vaccines, biologic therapies, and animal health products.
- Patients first
- Respect for people
- Ethics and integrity
- Innovation and scientific excellence.
These are clearly articulated on their culture and values page.
Previously known as Facebook, Meta, the social media leader has six values that guide their people's work:
- Focus on impact
- Move fast
- Build Awesome Things
- Live in the Future
- Be Direct and Respect Your Colleagues
- Meta, Metamates, Me.
The jobs page at Meta provides much more insight into culture and values.
AKQA is a digital design and communications agency owned by WPP.
- Innovation – we elevate the spirit with pioneering ideas, new possibilities, and the imaginative application of art and science to improve people’s lives and make a positive lasting impact.
- Service – we work with integrity, striving for better ways to deliver value and velocity at every connection. Through mutual respect for colleagues and clients, we nurture long-term relationships.
- Quality – we conscientiously adhere to high professional standards and superior quality to create influential work that consistently surpasses audience, client and community expectations.
- Thought – we are a work in progress and continually seek opportunities to improve. We are continuously researching, listening, learning, adapting across all aspects of our organisation and the work we do. We apply the most rigorous thinking process to recommend and deliver optimal solutions.
Learn much more about how this well-known advertising agency works and the shared purpose, aspiration, and approach to sustainability.
Remember that setting your core values is not the end of your job. Once you have done this, you need to make sure your employees understand them and are invested in them. Communication is key in every matter related to the organization, so make sure everyone knows what your company stands for.