Aligning personal and company values can drive a company towards success. Why? Personal and corporate value alignment helps identify an organization’s goals while improving employee engagement, investment, and productivity.
Purpose defines why your company does what it does; values determine how your company acts in pursuit of that purpose.
Personal and company values are similar in that they both help guide decision-making. However, personal values vary and are for individuals to uncover, whereas company values can be consciously chosen, operationalized, and set across the board.
Let’s take a look at personal and company values before we dive into how aligning the two can drive company success.
What are Personal Values?
Personal values guide an individual’s thoughts, words, and actions. These values help individuals grow, both inside and outside of the workplace.
Examples of Personal Values
Personal values can differ significantly among individuals. Some common examples of personal values include:
- Integrity, and
How Do Personal Values Impact the Workplace?
Personal values affect how individuals show up and function in their daily lives, including in the workplace (duh, the average person will spend 90,000 hours at work over a lifetime!)
These personal values indicate what is important to each person and therefore, guide their behavior. These values will affect how employees respond to situations, interact with others, and approach leadership positions.
Further, these principles will influence an employee’s mindset and fulfillment in the workplace.
What are Company Values?
Company values are a set of guiding principles that reflect an organization’s vision, mission, and motivations. These values should drive your team towards common goals, outline priorities, and help them navigate difficult decisions.
Examples of Company Values
Companies should choose unique values that reflect their organization. Here are a few common values that many companies highlight:
- Innovation, and
How Do Company Values Affect the Workplace?
Company values distinguish the identity of the company, establish a sense of belonging, influence behavior, and shape the future of the company.
Read on to learn why your company’s core values are essential to success.
What Happens When These Values Are Misaligned?
Most often, there is a gap between companies and employees regarding values. According to research from Oxford Economics, 75% of executives stated their organization has defined values that are “communicated and understood.” However, only 33% of employees agreed.
If employees feel that values are not being communicated and understood, they are likely to feel disconnected from an organization. This can decrease employee motivation, engagement, and productivity… But this doesn’t have to be the case!
The good news: Employees and companies often share many of the same values. It all comes down to operationalizing and communicating these values to your team. After all, both the company and employees will benefit from seeing these values in action!
How Can Aligning Personal and Company Values Benefit an Organization?
To bridge the gap between how executives and employees see the implementation of values, an organization should recognize the importance of aligning these values.
Benefits For Employees
Aligned values can help employees feel a sense of belonging, support, and satisfaction in their roles.
Benefits for Companies
Value alignment can improve the cohesiveness of an organization’s branding as well as improve employee retention, engagement, and recruitment efforts (i.e. talent attraction).
Oxford Economics tells us that “public companies with extremely healthy cultures are 2.5X more likely to report significant stock price increases over the past year… and 1.5X more likely to report average revenue growth of more than 15% for the past three years.”
It’s a win-win; companies want productive employees and employees want to work for organizations that share similar values.
How to Align Personal and Corporate Values Within Your Company
The short answer: Company values should function as more than hyperboles.
Research suggests that value misalignment is not a result of companies and employees having different values, but instead, that employees simply don’t see values implemented in the workplace.
Core company values should be purposefully chosen and operationalized in a way that is productive, efficient, and effective.
What steps can leaders take? Leaders can work to align values by:
- Giving employees a space to identify their personal values
- Inviting team members to discuss company values
- Tying personal goals into professional goals
- Valuing communication, and
- Increasing transparency
Need Help Aligning These Values?
This task might seem a little daunting, but don’t worry – we want to help! At Culture Works, our values make us who we are.
We are a trusted resource working with companies to improve their processes, operationalize their company culture, invest in their people through leadership training, and bring purpose into everything they do.
Our services provide the processes to operationalize culture in your organization:
- Intentional Culture Works for businesses
- Collaborative Culture Works for employees
- Healthy Culture Works internally in companies to facilitate organizational change, and
- Values-Driven Culture Works to make productivity soar and reduce churn
Read on to learn how people partners are the new HR.