The Importance of Having Company Core Values

Core values. Does your company have them? Do your employees truly understand what they mean? They should. As Zappos CEO, Tony Hsieh, said, "Your personal core values define who you are, and a company's core values ultimately define the company's character and brand. For individuals, character is destiny. For organizations, culture is destiny."

Culture is destiny. Yes, core values are a big deal to a company. They define work culture and set the standard for what your business and employees stand for and work towards. Not only do they guide what life is like inside the four walls of your business, they also alert potential customers and employees to what is important to your company and help determine whether or not they want to buy in to that ideal.

Here are three fantastic reasons having solid core values can help your business.

They help with recruitment.

Most job seekers won't apply to just any and every job that becomes available. They do their research first and that includes looking over a potential employer's website and social media channels and identifying how they see themselves fitting in with the team. Millennials in particular want to work for a company whose values align with their own, and according to a Forbes article, the primary indicator of whether Millennials stay at a company is if there is a "good cultural fit."

Having great core values that mean something to your organization — and highlighting them online — means you’ll stand a better chance of attracting the best potential employees for your organization -- individuals with similar values -- and the potential employees who seek you out will most likely want to stick with you for the long haul.

They set you apart.

Your core values must be unique to your organization. For example, there are tech companies everywhere. How do you become more than the proverbial needle in the haystack? Select core values that are meaningful, memorable, and that allow you to walk the talk. TSheets' core values were made out of the acronym, THE PBR. To reaffirm employee understanding and belief in these values, every new hire has to state THE PBR from memory within two weeks of their start date. If they don't nail it, their manager has to do 10 push ups. If they do, the CEO does the push ups! Additionally, the team goes on an annual trip to The PBR rodeo. It's a fun night of team building but also reinforces what we stand for.

Because The PBR also brings to mind a certain cold, alcoholic beverage, each new employee gets a PBR can with the core values attached. It's a fun, visual reminder of the company values, but it's also something that's highly shareable on social media and easily identified as The TSheets core values. Try something fun and unique and not only will your employees love it, they'll share it so others will love it (and your business) too! Hello, brand recognition!

They guide the decision-making process

Perhaps the most important reason to have core values is that they help drive decisions and determine priorities. Whether your business is growing incredibly fast or you're just uncertain about which path to take or which goals to chase, a simple glance at where you started and what you stand for can help everyone realign priorities and make smarter decisions that drive your company forward in a meaningful and successful way.

At TSheets, one of our core values is "Relentless: Passionate about our customers' and company's success." No matter what we're doing or what our short and long-term goals are, we always make decisions that are geared around our values. We know that, as a team, if we're being passionate about helping our customers find success, we're doing a-okay because we're staying on track with our values.

Solid core values are more than just a few words you throw together when starting a company. They ARE your company. Create solid core values and have an unbeatable company culture and you stand a good shot of attracting the best employees on the market and having a business with longevity. What are your company core values?

Author: Kelly Brown, TSheets

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