Transparency and authenticity are being demanded of companies by customers, critics, and employees alike. Core values are one of the primary ways in which companies can proactively declare what it is that they care deeply about and also hold themselves accountable in the often gray-area of today’s business environment. Core values are fundamental for determining if a company is on the right path and fulfilling its goals, and offer insight into the culture and deep beliefs that anchor an organization.
Marketers may not typically be the decision makers behind something as foundational as core values, but we do know that marketers can be instrumental in elevating and incorporating the values into internal and external branding. If you care about evolving your organization and want to make a case for the benefits that core values bring, prepare your argument with information below.
How Core Values Strenthen Your Brand
They Attract the Right People
Beyond just making sure that a candidate has the right technical skills and experience, how do you make sure that they’re the “right fit?” Without core values, it’s hard to frame concrete questions around the beliefs and attitudes that live within your organization. Your core values give candidates the right insight into your company and provide another marker for them to consider if they align with an organization or not. Did you know that 91% of managers in the U.S. say a candidate's alignment with the company culture is equal to or more important than skills and experience? Ultimately, having core values reduces turnover and increases the odds that you will hire someone who will strengthen your organization. A new-hire that is mentally and emotionally invested in the same values that your organization holds dear will be more engaged and more likely to thrive in your business.
They Shape Your Company Culture
Culture is built by the behaviors and interactions between people inside of an organization. Many times, a portion of core values are directed internally and guide how employees should engage and work with each other. Core values explicitly paint a picture of what is “constant and expected” within the company and help move everyone onto the same page. They provide common ground amongst colleagues and identify what it is that team members are working for. Drive is everything, and one-third of job seekers report being willing to take a 10% pay cut for a job they are passionate about. Employees may shuffle around and leadership may change, but values live forever and help drive culture and norms indefinitely.
Give You a Roadmap to Success
When making business decisions, we always have to weigh countless variables to decipher what seems the best course of action. We’re presented with numerous options and sometimes overwhelming amounts of data, and it can be confusing to make a choice. Core values provide a compass for which to weigh your options against. They prevent you from straying too far or losing sight of the fabric that makes up your company. If you’re on the fence about a choice and whether it would strengthen or weaken your company, referencing an already established set of values aides in making the best choice for your organization—regardless of who is making the decision. Core values are a brand’s unshakeable foundation. Especially when it comes to marketing, core values help shape the messaging and activities that you execute on behalf of your brand and assist with making sure that representations are cohesive with your identity.
They Distinguish Your Brand
In a hyper competitive world where products and services are marginally distinguishable, core values bring another element to the table that help make you different. You may already believe that you are different than your competitors, but without core values, there’s nothing to explicitly illustrate that. As mentioned above, arming your marketers with strong branding helps create a point of differentiation for your products and speak to the right audiences that align with your brand. Core values communicate what your company stands for and the shared vision you are working towards. Proudly standing for what you believe in and weaving your brand identity into your products will give people a reason to choose yours over another’s.
Creating and deciding on a company’s core values is a lengthy and demanding undertaking, but undoubtedly a worthy task. Core values truly help your organization mature and flourish and elevate your brand in the eyes of your employees, existing and potential customers, and stakeholders.
We have worked hard at incorporating core values into our brand and we’d love to share how on a free one hour call. Let’s chat!