Core values are the blueprint for your life and your business. They are the boundaries that determine your behavior, the expected behavior of your employees and how the company behaves within the world of business. So it goes without saying that core values are an important piece of the foundation of your organization.
You may think that this is common sense and that you don’t need to have anything formal in this regard. However, many conflicts within organizations can be traced to poor management of expectations. The truth is, if we were all robots and could just do the work we were assigned to do, conflict wouldn’t occur. But, we’re not. Conflict is part of life and business and the best way to manage conflict is to manage expectations and coach your employees within that framework.
Here are 5 reasons you need to identify and communicate your core values for your business:
1. It sets your corporate culture. Culture starts at the top, so whatever values you select, you need to walk the talk.
2. They promote behaviors that you want to see in your employees and how they behave both internally and externally.
3. It sends a message to your customers. The consistent behavior of those in your company tells your customers who you are.
4. It’s easier to hire. Once you have your core values identified, you can use them in your interview process to determine if your candidates are a good fit with your culture.
5. It’s easier to fire. You know the old adage—hire slowly and fire quickly. Once you determine that you have an employee who doesn’t abide by your core values, act quickly. Don’t waste time trying to change them. It doesn’t make them ‘bad’. They are just not a good fit with your company.