A Set of Core Values Is What Makes Company Culture a Real Thing When your team has shared values you worry less about them leaving for more money somewhere else.

By Robert Wallace Edited by Dan Bova

Opinions expressed by BIZ Experiences contributors are their own.

Shutterstock

This article is included in BIZ Experiences Voices on Company Culture, a new book containing insights from more than 20 contributors, BIZ Experiencess, and thought leaders.

Everyone wants to work for a company they believe in. We've all heard tales of startups trading a paycheck for shares in an effort to scoop up the best talent. Some companies have captured great employees for peanuts simply because they have something for people to believe in.

Even though many of these companies have some innovation poised to change their industries, they are almost always coupled with a culture that people want to be a part of. And by culture, I'm talking the emotional draw and support one feels when working for a company.

Unfortunately, there seems to be an epidemic in the business world that is swooping in and telling CEOs and founders that their employees will be happy and productive if they fill their walls with posters of inspirational quotes poised over a crew team and fill the office with a few healthy snacks and massage chairs. If you want a company culture that draws and keeps the best employees, you have to start with your core values.

Related: Stand for Something: How to Establish Authentic Core Values

We are living in a world where people are no longer impressed by the cereal bar and spiral slide to the breakroom. Employees of today want to be inspired. They need to trust the brand they are handing their talent, time and effort over to.

Words and phrases like integrity, people first and passion are used by everyone -- or at least should be. These words won't set you apart. Skim any of the hiring company profiles on CareerBuilder or Monster.com, and you'll see hundreds of businesses thrown into a big bucket of companies with no brand, values or story -- just a job listing from a company that knows the right buzz words.

So what are core values, really?

Core values tell stories. By definition, core values are the guiding principles that dictate behavior and action. Values are things that you can tell specific stories about. Stories of when a colleague did something amazing for a customer or a teammate. If you can't tell a story about something you've listed, it's not a real value.

Where do you start?

If you are an established company, you have an advantage. Sure, your framed core values plaque is probably due for a good dusting, but as a functioning company with employees and customers, you have stories to draw from.

Related: How to Create a Cohesive Company Culture

The first step is dusting off the plaque and really evaluating what you've narrowed your values down to. Do they speak to the services your company provides? Do they evoke an emotion that is specific to your company and what you do on a daily basis? There are plenty of examples to draw from. The biggest thing you can do is to get your team involved. By asking your employees or managers what they think the core values really are, you'll get priceless insight and some real life examples.

Once you evaluated and/or chosen your values, imagine yourself in an interview. If a potential employee were to ask you what one of the company's values meant, could you draw from a real life experience from you or your team? Be unique and let your core values tell your story. On the flip side, your core values should help you make decisions on hiring and firing. Many of today's most admired companies hire for culture first and skill second.

What if your business is in its early stages?

As a younger company, you may only have a co-founder and a dream. This means you have the perfect opportunity to create an outline for the stories you want to tell. By creating meaningful core values, new employees will be able to make better decisions if they know to align their daily activities with the core values.

If communicated properly, your team will know how to respond to tough customers, treat fellow teammates and even start a path to career growth -- all based on the foundation that you've built for them. Regardless of the size of the company, as a leader, be sure to commend people publicly when they demonstrate a value, and (maybe not publicly) tell them when they haven't.

Related: 4 Ways to Bring Your Organization Values to Life

Core values carry a lot of weight, but unfortunately, often go overlooked after the first 30 days of employment. When embraced properly, core values become part of your day-to-day activities within your company's walls and beyond. They are a compass for performance and the stories you tell when asked about your business. Make them matter.

Robert Wallace

EVP of Marketing, Tallwave

Robert Wallace is executive vice president of marketing at Tallwave, where he leverages his BIZ Experiencesial and strategic marketing expertise to develop and implement Lean Startup strategies for Tallwave early-stage ventures. He has more than a decade of startup and client-side experience developing growth strategies, positioning companies, and bringing products to market.

 

Want to be an BIZ Experiences Leadership Network contributor? Apply now to join.

Business News

Here Are the 10 Jobs AI Is Most Likely to Automate, According to a Microsoft Study

These careers are most likely to be affected by generative AI, based on data from 200,000 conversations with Microsoft's Copilot chatbot.

Business News

Starbucks Built a New 'Luxury' Office Near Its CEO's Newport Beach, California Home

The 4,624-square-foot office was disclosed as part of Starbucks CEO Brian Niccol's compensation package before he started the role last fall.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for BIZ Experiencess to pursue in 2025.

Growing a Business

Your Retention Crisis Won't End Until You Make This Shift

If your company is in a high-turnover industry, it is within your control to be transformational or transactional with your employees.

Starting a Business

These Brothers Started a Business to Improve an Everyday Task. They Made Their First Products in the Garage — Now They've Raised Over $100 Million.

Coulter and Trent Lewis had an early research breakthrough that helped them solve for the right problem.

Business News

Mars Says 94% of Its Products Sold in the U.S. are Now Made There, Too

The candy-maker has created 9,000 jobs over the last five years with its investments, according to a new report.