Crucial to your success, company core values shape your business culture and decision-making, while defining the employee experience.
Studies reveal the values and culture of an organisation are the top factors that influence employee satisfaction, with 75% of respondents considering them “very important”.
A report by Harvard Business Review suggests 65% of people would prefer to work for a lower salary, rather than being employed by a company with a poor workplace environment.
Companies with good values, a positive workplace culture and high employee satisfaction see an average 30% greater growth and 17% higher profits, according to studies.
What are company values?
The foundation of your company’s operations, they influence the behaviour expected of every manager and employee.
Core values of a company encompass many different aspects of business activities, including integrity, meaning you must act in an ethical and transparent way in all dealings. Make doing the right thing a priority, never do anything purely for personal gain and always be accountable.
Cultivate a culture of respect and diversity that goes far beyond just being civil. Treat all employees, stakeholders, customers and clients with dignity and acknowledge the unique contribution each one makes to further business goals.
Emphasise teamwork and collaboration, recognising the way everyone works together towards a bigger entity. Teamwork combines the skills and knowledge of a group of individuals who all have something worthwhile to give.
Adaptability is useful as an ethos, as the ability to change your strategies or behaviour based on the company’s evolving demands lead to greater success. Be resourceful and proactive in a new environment and possess the ability to bounce back from challenging circumstances.
Practicing the best company values in every aspect of running your business means employees will be more loyal and dependable. Ultimately, studies show that people who feel safe and valued in the workplace are happier and consequently more productive.
There are many core values that you can choose, but experts normally suggest having five, as the more you have, the harder it becomes to keep each one authentic. However, it’s up to every individual company to determine its own ethos and to conduct business in a way that works best for them.
Values of Nike company
Sportswear manufacturer Nike, which rakes in an estimated £36.4 billion annually, has a mission statement to “bring inspiration and innovation to every athlete in the world”. The company’s core values are sustainability, community, social responsibility and diversity. This shines through as the company continues to move forward with the emphasis on success not only in business, but in society too.
CEO and president John Donahoe has said he believes sport can transform lives. During this period of fragmented society and the growing threat of climate change, he believes the power of sport will bring everyone together to change the world in a positive way.
Values of Google
Google’s mission statement includes its commitment to “significantly improve the lives of as many people as possible”, pledging to expand what’s possible for everyone by “building belonging” in the workplace and in society as a whole.
The company currently has a market value of £1.4 trillion, making it the world’s fifth most valuable company. It has ten key core values, which include focusing on doing one thing really well, making money without doing evil, the value of democracy on the web and appreciating the fact you don’t need to be at your desk to require answers. It also states, “you can be serious without a suit” and believes “great just isn’t good enough”.
Google goes to great lengths to explain each of its beliefs in detail, so employees and wider society understand what it stands for. It also revisits its core values regularly to ensure they remain up to date and in keeping with its mission and goals.
Adapting over time is an important consideration, as the economic climate and society both change and evolve, so your company must do the same.
Going green
Something every business should recognise in its company core values is the need to start going green, if you haven’t done so already.
With the problem of climate change and global warming becoming more severe, consumers are always on the lookout for businesses whose ethos includes working in a more sustainable and eco-friendly way. BE Offices can help towards being green at our serviced offices in London.
It’s not something we simply add to an agenda: it’s part of the fabric of our organisation. We go the extra mile to be eco-friendly because it’s important to us and we have a commitment to the environment and our communities. We’re continually working towards decarbonising our business and are committed to achieving B-Corporation Certification to affirm our core values.
As a company we have already delivered our zero waste to landfill policy and switched to an energy supplier who generates electricity from renewable sources. Our centres have motion sensor lighting and our multi-million-pound project to install LED lighting throughout our portfolio is almost complete.
We use carbon neutral servers and have removed single-use plastics, where possible, in our catering services. We also use eco-friendly cleaning products and have partnered with Treeapp, the B-Corporation tree planting partner, to contribute to reforestation projects in Africa, Indonesia and South America.
This is the tip of the iceberg: we don’t intend to stop there, as we’re continually moving forward on our green journey into the future.
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