Strong values are the company’s heart and soul. While most organisations understand their core values well, others struggle to put them into practice. It is usually much easier to describe what your company does but defining your core values is not always easy.
That’s because company values are intangible. It’s a feeling that should be evident in the workplace and throughout the company, even reaching people outside your organisation. Regardless of what a company’s relationship to its core values looks like, leaders can continuously improve their understanding of their core values and help their company grow.
Here’s how business growth can come from having strong values.
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Strong Values in Diversity Can Strengthen Your Businesses Creativity
Studies show that the positive impact that a culturally diverse workforce can bring on the team and the company is creativity. By bringing people with different backgrounds together, you can develop more varied solutions and approaches to any issues and projects in the company.
Agencies such as Lightning Travel Recruitment can be hired to consult on diversity and inclusion policies, especially for those expanding their business and wanting to maximise their output in recruitment.
Having a more diverse workforce is an effective way to bring new ways of thinking into the business that the company can use in various ways. By listening to each employee’s voice and manner of thinking, the company will not need to be pigeon-holed in a single direction.
Strengths-based leaders who actively encourage diversity in the workplace will have more perspectives and solutions to discuss within the team, encouraging everyone to perform at the best of their abilities.
Indeed, companies that prioritise diversity offer various perspectives, ideas, and learning opportunities. Diverse employees can pool their talents and experiences together to develop the most effective solutions.
On the other hand, organisations consisting of people with similar skill sets and backgrounds tend to solve a problem the same way they always do.
An increase in creativity and innovation among a culturally diverse team can result in a feeling of “esprit de corps”, which benefits the team and the organisation as a whole. It promotes a sense of camaraderie and encourages everyone to help each other achieve the company’s goals.
Strong Values of Honesty and Transparency Can Stop a Culture of Fear
From fostering a positive work environment to promoting resilient teams, honesty and transparency are essential for both employees and employers.
If people feel like they can make mistakes, they are more likely to gain more experience. They will go against those ideas that could be damaging for the company and be encouraged to try things that, despite being risky, could help the business to develop.
Workplace transparency can result in long-term success. If implemented the right way, increased transparency can foster trust among employees and between employees and their employers.
It also helps to improve morale, minimise job-related stress, increase happiness, and boost performance among employees. Upholding the values of honesty and transparency does not cost a thing, yet it benefits the company in so many ways.
In general, workplace transparency is a philosophy of freely sharing information to benefit the organisation and its members. Workplace transparency could refer to executives sharing company information with the team or individual teammates and then sharing feedback with each other.
It can also involve what the recruitment team communicates to potential candidates and what the organisation shares with the customers and the general public.
Strong Values of Philanthropy Can Help Attract the Best Talents
Whether it’s supporting causes, volunteering in the community, or making donations to charities, philanthropy can have significant benefits for the company, including attracting the best talents.
If you market your philanthropic values through social media and during recruitment, you will attract candidates who share the same values and will be more than willing to contribute their best efforts to help your company achieve its objectives.
Developing a culture of “giving back” will not only allow companies to build a strong sense of community, but they can also appear more attractive for the younger professionals who are keen on working for organisations involved in charitable work.
When looking for a new career, many job seekers will consider the benefits that an organisation offers and how it can make a difference in their careers.
Philanthropic programs have been found to be successful in attracting talented employees since the best candidates are more than willing to work for an organisation that’s fully committed to their community. Employees working for companies that can make a difference through strong values often experience greater job satisfaction and overall happiness.
Today, many businesses are giving little thought to how they can make a more significant impact on their employees and the company, which results in an increase in employee turnover rates, not to mention a reduction in customers because of poor customer engagement.
By fostering strong values of philanthropy, companies can gain the respect of their employees, who will be more motivated to carry out their respective tasks.
Strong Values of Professional Development Can lead to Employee Growth
According to studies, a company loses an average of $14,000 each year due to vacant jobs that remain unfulfilled for several months. Instead of waiting for the right employee to come along, it will be in the company’s best interest to utilise professional development to build the skillsets needed to carry out specific tasks.
Companies should consider using bespoke training to develop staff for professional development. These are training lessons tailored to the company’s unique needs, ranging from small leadership workshops to webinars and bespoke online courses for managing teams with professional development programmes to help employees grow in the company.
These will include newly designed workshops, team-based or individual psychometric assessments, including facilitated discussions on the relevant subject matter. Depending on your company’s objectives, bespoke training is available in a wide range of formats – offering adaptability while catering to your organisation’s needs and requirements.
Sure, professional development requires both money and time. But it is a worthy investment as it can benefit companies in many ways, helping to align work activities and culture with the company’s strong values.
These training opportunities offer employees a better understanding of how they can successfully balance the organisation’s needs, state of the market, and customer requirements. In the end, they will become better decision-makers, helping the company to thrive even further.