Company values, a topic that has kicked up quite a stir in the business world in recent times. One might think that as long as a company which is all about making a profit no matter what sacrifices they need to make (moral or otherwise) is an ideal one. That might not be entirely accurate. But this does not mean that the idea of making a profit is wrong, as a matter of fact, a company is not really a productive one if it is not making a profit. But this article is aimed at helping to further the understanding as to why a company with values to a very large extent “outranks” one without any values at all.
What Exactly are Company Values?
Company values, company ethics, the culture of a company, there are quite a few names for the phenomenon in the corporate world. Similar to the basic and fundamental reasons behind the behavior of an individual, company values are the core aspects that drive the behavior of a company. Since a company is not a living entity, these values are displayed by the staff of the said company. The greater the company values, the better.
Initially, culture as a word was only associated with agriculture and was coined from the Latin word “cultura.” But with time culture evolved to include improvement or cultivation of people or practices through education. So, in this context, we could say that the culture of a company is the unique “backbone” of such a company. Someone might argue that culture and values are different. That is correct in a way. This is correct because in a way they complement each other. Assuming the culture of a company is the vertebrae or spine of such a company, then the values of such a company would be the individual bones that make up the spine. Regardless, they both refer to practices that protect the company. So, company values could also be referred to as company culture. Company values can form on their own (naturally) with time, but such growth is not advised as some negative elements might find their way into the system and begin to slowly deteriorate it. However, when the leadership of a company actively participate in shaping the entire company according to a positive set of values, both the customers and employees would benefit in the long run.
As mentioned earlier, a company (for instance www.RevShareRecruiters.com) is not a living entity. The key values of success at RevShareRecruiters (RSR) are Collaboration and Transparency. RSR continues to work towards ensuring their candidates are a part of the strategic marketing plan and a clear understanding of client expectations and deliverables.
Other companies may have different values to be displayed by the staff and employees. An example of values may include:
- Optimism
- Diligence
- Loyalty
- Integrity
- Honesty
- A well-developed spirit of teamwork, etc.
Optimism: This generally has to do with seeing the best parts of every situation and working on getting the best outcome no matter how glum the current situation might seem to be. This value is very vital for any company because it generally improves the productivity of a company. When a company is composed of people that are pessimistic their point of view with regard to various issues would eventually start to affect others. Negative behavior is quite easy to pick up, and such behavior (similar to a weed) can spread quickly if left unattended to.
A company which has leaders who promote the value of optimism tend to take good care of their employees. This is because they want to maintain that value and if too many of their employee complaints are neglected, eventually they would stop giving their best. So although they cannot possibly satisfy every employee, their employees would generally be happier and more productive than employees at a company with little or no positive values at all. Besides, happy employees would definitely and eventually produce happy and satisfied customers.
Diligence: From the very top of the corporate pyramid of any company to the lowest position, the value of diligence cannot be overemphasized. The leadership displays diligence by being actively involved in all aspects of the company. They couldn`t possibly handle everything personally (especially for larger companies), but when they strive to encourage everyone and bring everyone along, they are doing their best. This is beneficial for a company because such diligence will eventually rub off on the employees who would then give their very best to make sure that the customer is satisfied.
Loyalty: In the business world everyone is trying to beat the competition or move higher among the rank of companies in their respective niches. Due to this, there is almost no such thing as a unique service any longer. Whatever you are doing, someone else is doing it. The only difference lies in how you do yours. A company with values tend to retain their existing customers and even get more customers than a company that neglects value. A company with values constantly gets referrals and hence new clients or customers. This is because the clients believe that the company has their best interest at heart and will not rip them off, just for the sake of profit.
Integrity: This is a value that needs to be actively inculcated in any company or organization. This value is very important because just like every other value, it improves the productivity of any company. This is so because everyone in such an organization is putting in their best to ensure that the company as a whole moves forward. But in an organization without this specific value, corruption would then replace integrity as a value. Everyone in such a corrupt organization would be looking to get as much profit as possible, even to the detriment of the organization. It is almost impossible to say that a company is entirely free of corruption. But after comparing a company that advocates integrity as a value and a company which allows corrupt practices, which would you personally prefer?
All these values usually go hand in hand.
The Exact Benefits of Values to a Company
The advantages that a company that promotes the presence of good values in their everyday dealing has over other companies are quite substantial.
First and foremost, the employees would be content and will always put in their very best to fulfill whatever task is handed to them. Generally, a company with values has a better employee retention rate than other companies. Besides, there is no need to change an employee who meets all the requirements of the leadership, and there is no need to quit when the leadership values the input of their employees.
Secondly, there is a higher rate of productivity in a company with values than in a company without values. So, you cannot say that values hinder a business; employment of the right values in a good business setting can never be detrimental to a company.
Third, such a company will develop quite a reputation in the business world. A good reputation of always putting your client` needs first and fulfilling those need to the satisfaction of the client is a wonderful reputation for any company. It would be even better when people realize that such a reputation was built out of willingness and not fear on the part of the employee.
Besides, a company with values means a happy and goal driven leader, which in turn translates to efficient and happy employees. That in turn then translates to a completely satisfied customer base, which ultimately means increased income for the company in the long run.
RevShareRecruiters is a company that rooted in values, and its values are the compass that guides our decisions and direction. This has helped them in remaining outstanding in their business niche. It is not all about preaching the values; at RevShareRecruiters we are living, demonstrating and displaying our values every day.