Make your values mean something, as more staff quit their job

Make your values mean something

Research by Amba has revealed that around two in five (42%) of employees feels that their employer doesn’t share their values/expectations.

This poll of over 1,000 full-time workers for Amba’s Generation Gap: Understanding the Priorities of the Gen-Z Workforce 2022 report, also found that more than two-thirds (69%) of this group felt it was important that their workplace have high ethical standards.

The study also revealed

Nearly one-in-five (16%) 18–24-year-olds had left their last employer because they didn’t share their values. This was compared to just 7% of 55-64-year-olds.
Similarly, one-in-10 (12%) Gen Z employees have left a previous role as a direct result of their employer’s inaction over sustainability. This was compared to just 3% of 55-64-year-olds.
In addition, 18-24-year-olds are most likely to look into a potential employer’s values. 71% of young people now research a company’s ethics before accepting a job.

If left unaddressed, this will have devastating consequences for businesses throughout the UK. Of those workers who didn’t feel that their employer shared their values, a potentially 58% are now considering leaving their job within in next 12 months.

Businesses must now start to demonstrate a stronger commitment to environmental and social issues. If not, they risk losing out in the fight for the UK’s valuable young talent.”

What are company values?

Company values (also known as core values) are the fundamental beliefs that your team holds. Having clear company values will help you ensure that all your employees are working towards the same goals.

Your core values support the company’s vision and shape its culture. That’s why every single business decision should be aligned with these values.

Define your company values

Defining your company values requires a close examination of your organisation’s culture and vision.

Keeping it short

Make your values easy for employees to memorise and translate.

Make them unique

Don’t be ordinary and use the same values as other companies. Think about what sets your company apart from the rest.

Address both internal and external goals

Addressing the manner in which your company will interact with the outside world, will leave employees feeling hopeful and it will also inspire trust in your customers.

Stay specific

Values should be specific to your company’s goals and mission. They should be relevant to the products or services that your company offers as well as your company culture.

5 examples of common company values

Teamwork

Everyone knows how they contribute to this strategy, works hard to be successful and makes efforts to ensure others are equally successful. The wins from having this value are as a group – the team being greater than the one.

Respect

This value is all about treating everyone with dignity, valuing their contribution, understanding each other’s importance and developing a mutually trusted relationship. This company value should be extended to their suppliers, buyers and partners.

Celebrate company success

Celebrating success is a great way to boost morale and engage people from across the whole business. Celebrate small victories, acknowledge people for all size wins and show recognitions e.g. bonuses, staff outings.

Diversity

For Diversity to be a true value, it must operate at every level within your business. Have an inclusive approach to hiring, a commitment to equality on all levels and have a wide range of backgrounds and cultures on the team.

Passion

Standing for honesty, sound moral principles, being ethically driven and focusing on doing the right thing. Be open, transparent, and honest and have a strong ethos of doing the right thing even if it is not a profitable action.

The above are just a few examples as there are many different core values. In essence, your company values are the beliefs, philosophies, and principles that drive your business. They impact the employee experience you deliver as well as the relationship you develop with your customers, partners, and shareholders.

Conclusion

Values are there to showcase what makes up your culture day-to-day, how you behave, and what you strive for. They’re a statement internally and externally.

You want them to be impactful, inspiring and engaging.

If you would like any help in developing a clear company core vision, we can help.

Thank you for reading our blog.