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Setting core values
Written by: Renée LeMoine
Photo by: Vojtìch Vlk
"My company has been in business
for several years now, but as a new employee I am confused about
its real corporate values. What I read and what I witness have
two different meanings.
Pick up a copy of Enron's annual report for 2000. You will find
respect, integrity, and excellence listed as the firm's highest
regarded corporate values. Yet, we all know its business activities
led to one of the biggest corporate failures in history. All too
often, CEOs define corporate values that reflect popular buzzwords,
what's politically correct, or those values that they wishes their
people held. If employees are complacent and missing deadlines,
defining "urgency" as a core value won't necessarily
change behaviors.
A company's core values are deep-rooted principles that guide all
internal actions and cultural foundation, and therefore should
not be compromised.
- Be aggressively bona fide when defining core values. Avoid
cooking-cutter values. Integrity and hard work are the core values
held by 55% of all Fortune 100 companies. With these statistics,
your company will just fade into the crowd.
- CEOs and top management must embrace value initiatives. Don't
hand this over to HR to implement through consensus building
programs. The CEO and his executives drive the best value crusade.
Building a good values program is like crafting a fine wine:
it needs careful attention to detail, and is never rushed.
- Make core values ubiquitous. Once the core values are nailed
down, they must be integrated into every hiring, training, performance,
and reward management system. From the first interview to the
last day of work, employees should be reminded that core values
form the basis for every company decision.
Be careful, there are other types of values that may enhance core
values, but are patently different. These short-term values should
be thoughtfully integrated to avoid diluting fundamental values.
For example, a company may need to develop a new value to support
a new strategy, or to meet changing marketing needs. Often new
values arise spontaneously without being cultivated by leadership,
and they may reflect the common interests and personalities of
the employees. Article prepared by Renée LeMoine, Executive
Director, LeMoine & Associates
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questions or comments to: coachingcorner@prague-tribune.cz. |
