Core Values are a handful of rules that remain constant over time and manage the behavior inside of your company. If you have employees acting against the set behavior expectations, it is most likely that you are lacking in core values or not talking about core values enough.
According to The Advantage by Patrick Lencioni, there are four types of core values:
- “Aspirational These are characteristics the company wants to have, wishes it had or believes it must develop to maximize its position
- Permission-to-Play – These values are the minimum behavioral standards that are required in an organization. Although extremely important they don’t serve to clearly define or differentiate an organization from others. Values that commonly fit into this category include honesty, integrity, and respect for others.
- Accidental – These values are the traits that are evident in an organization but have come about unintentionally and don’t necessarily serve the good of the organization. These values are developed in a company over time and usually creep in because people start to hire employees who come from similar backgrounds.
- Core-Two to Four behavioral traits that are inherent in an organization. Core values lie at the heart of the organization’s identity, do not change over time, and must exist already”.
There are 3 questions you can ask yourself that test your core values:
1) Are you willing to hire and fire staff based on your core values?
2) Are you willing to take a financial hit to stand behind your core values?
3) Are your core values evident in your company culture so that outsiders who come to visit can see that they are alive amongst your staff?
Having your core values set and talking about them all the time is critical for your company’s success. Watch my new video blog to learn more about core values inside of your company.