Among many other things that we admire about Senior Strategic Partner, Charles Parnell, it is his ethics and core values of honesty, integrity and a determination to do the “right thing”. In this week’s Power Idea, Charles explores the meaning behind Organizational Core Values and the impact on business today.
Core values are reviewed when organizations engage in strategic planning and execution. There is wide agreement that they are the most critical component to teamwork, company culture and success. We have observed when values are not embedded in the organizational culture, arteries of communication are not open, team members do not trust one another, dysfunction is present and organizational performance is diminished.
- It’s helpful to establish an operational definition of core values. They are:
principles of behavior,
- our internal compass,
- tell us what is right and wrong,
- aid in our decision-making process, and
- help us evaluate the world and people we interact with.
These are individual values but are transferred to the organizations we work in. As we continue to compete in this global marketplace, it will be critical that our organizations have core values that are clearly defined and effectively communicated to team members. Lastly, team members must embrace and execute these values as they discharge their job duties.
The following are examples of organizational core values:
- Accomplishment – the team members must have a commitment to strategic goal attainment with an action plan for execution
- Accountability – behavior accountability leads to ethics in the workplace
- Action-oriented – this is necessary for problem-solving and people development
- Attention to detail – this behavior leads to world-class customer service
- Being the best – this leads to increased market share and the increased ability to attract and retain talented people
- Candor – this will facilitate effective team building and success
- Change – the ability to recognize, embrace and manage change is critical to organizational success
- Collaboration – is a key component to team cohesiveness that results in problem-solving business development
- Communication – the channels of communication must be open and clear – upward and downward in your organization
- Continuous improvement – this focus lends itself to world-class customer service
- Customer service – total efforts and focus must be on our internal and external customers. This contributes to market share, profits, branding and the ability to attract and retain superior talent
- Curiosity – there must be a continuing curiosity about the market segment in which we do business with the goal of effectively connecting to deliver a superior product or service
The foregoing is not an inclusive list of organizational core values. They are examples that organizations are embracing and executing. The discourse in this global marketplace is the challenge in attracting and retaining the “New Age Worker”. They want to be in on things: goal setting, problem-solving, decision-making and participation in running the business. The research indicates that the workers want to work in an organization that has core values embedded in their culture that parallel their own.
The challenge is set and is clear. There are tangible benefits of having, communicating and executing core values. As this year comes to an end, it’s highly recommended that we examine our core values and set the course for the new year.