3 questions to ask about your company values

What are values for?

It may seem like a curious question. We’re used to thinking of values as intrinsic, unchanging and “just there”. We don’t necessary think of them as having to “do” anything.

For purpose-driven businesses, however, it is vital to ensure that your “how” supports, embodies and drives your “why”.

Naturally, your values must be authentic. But crucially, your chosen values should propel your business forward and empower everyone in the organisation to realise your shared purpose.

Take this opportunity to look at your company’s stated values with fresh eyes. Do they truly come from the core of the organisation’s purpose, and are they truly aligned with your business strategy?

If the answer is no, then there is a strong chance that they are little more than words on the wall, with no purchase on the day-to-day operations of the business. This is especially true in the case of generic, ‘permission to play’ values such as ‘honesty’ and ‘integrity’.

Go back to your ‘why’.

Which values and behaviours will help your organisation fulfil its purpose? What truly makes your company tick? Do you and your employees prize disruption, individual initiative and a “move fast and break things” attitude? Or are patience, rigour and consensus building more important?

There are no wrong or right answers, but being clear about what really counts is key. Take the time to make your values fit for purpose, and you will have an awesome tool for activating purposeful advantage.

Three questions to ask about your values

Purposeful business leaders need to be confident that their company values are truly activating company purpose. Look at the stated values of your organisation and ask yourself these three questions:

#1 Do your values help you solve problems?

Are you using your values as tools? Can you take a situation and use your values as a practical guide to decision-making? Do your values make it easier for all employees to quickly decide on the best course of action?

#2 Can you use your values to measure employee or team performance?

Do you have a framework to measure performance AND behaviour? If you have team members who hit targets but create problems for others, are you able to show clearly how their behaviour contravenes your corporate values?

Could you sensibly use the company’s values in a review or appraisal situation?

#3 Do your values differentiate you from the competition?

‘Honesty”, “integrity” and “customer focus” are all essential ingredients of any business — which is why they are unlikely to differentiate you from the competition.

Compare that to the values of Ordnance Survey, the UK’s leading supplier of geographic information: “adventurous, incisive, restless and true”. It’s a fantastic value set that reflects customer need and clearly points Ordnance Survey towards constant improvement and development of its products and services.

Do your values clearly differentiate your company’s approach and culture against your competitors?

Did you answer ‘no’ to any of three questions? If so, it may be time to rethink whether your company values are ‘fit for purpose’.

This article originally appeared in the Autumn 2016 print issue of Purpose. For more on creative leadership, problem solving and purposeful business, please visit thehouse.co.uk or get in touch at hello@thehouse.co.uk.