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LikendisLikes and employees are motivated by opportunities and a strong corporate mission. Workers, especially Generation Y, are not just driven by profit. They prefer to do work that inspires them, alongside good people and in an environment that promotes their personal and professional development.
In his 2020 TED talk, behavioral economist Dan Ariely asked the question, “What makes us feel good about our work?” The surprising answer was “most of us thrive on doing constant progress and feeling a goal. values are expressed in a way that attracts and retains employees who undeniably love what they do and who give their best.
Not convinced? Here are nine important benefits of a cohesive corporate culture.
1. Values generate dedication and loyalty.
According to Monster.com, “The long-term success of any business is highly dependent on the quality of its employees and the loyalty of the workers.” Strong values keep people engaged and put a brake on revolving doors. Employees who love the work they do and the people they work with are there for the long haul.
Related: How Thoughtful Leaders Gain Employee Loyalty
2. Values encourage collaboration.
A lack of values in the workplace can be isolating. On the other hand, an organization with strong values is inclusive. Mission-oriented workers tend to be less selfish and more supportive of one another. Collaborative teams are constantly producing better deliverables because they work together.
3. Values shape customer service.
There is a reason why Zappos offers the best customer service ever. The central value of the company’s No. 1 family is “Offer a WOW service”. Companies that choose to prioritize customer needs can easily turn grumpy buyers into branded evangelists.
4. Values sell your product.
When customers share the same values, they are more likely to support your business. The generous spirit of Warby Parker is contagious. With each pair of glasses they sell, they donate another to charity. At their low price, customers see it as a bargain – being able to give to someone in need and buy a pair of trendy glasses.
5. Values align personal goals with organizational goals.
Rather than taking steps to ensure job security or promotion, employees spend more time focusing on initiatives that will help the company reach larger milestones. Hired workers take a holistic approach to problem solving and prioritize tasks that suit the business.
Related: Drive Success by Converging Employee Goals with the Entire Organization
6. Values strengthen self-awareness.
A clear mission makes it easy for employees to tell what’s right and what’s wrong. It also helps managers and workers learn from their mistakes to become better people and be better at their jobs.
7. Values create responsibility.
Employees who take full responsibility for their actions are often more reliable and trustworthy. In companies where workers feel responsible for each other and for the organization as a whole, they work hard to produce meaningful results and to avoid disappointing their peers.
8. Values encourage critical dialogue and repression.
Successful businesses need a balance, with feedback from every member of the organization. Open dialogue is possible when team members invite each other to reflect on how new decisions affect the company’s core values and its long-term growth.
9. Values provide stability.
When a startup doubles its workforce, loses a large client, receives significant funding or pivots, the big changes to come can create anxiety and uncertainty for employees. To put people at ease, entrepreneurs and business leaders make it their duty to express and reinforce the fundamental values of the company. This provides workers with the security and stability they need to stay happy, productive and prosperous.
Young startups hoping to build a business that customers, investors and workers admire should constantly develop and promote strong corporate values.
Related: The challenge of keeping your culture intact when the business is growing fast