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The Importance of a Mission and Company Values in the Workplace

Does your business have a mission? Is there a strong set of company values clearly set out that describe the reason for its existence? We are not just talking a couple of sentences containing corporate jargon at the top of your business plan to make it look fancy.

What we are talking about are the meaningful, powerful principles that unite your team and produce the drive and common purpose that is essential to any business.

Your mission and company values set the tone for your entire business culture. They can be powerful tools to guide decision-making, attract and retain top performers and build an invincible team environment. If you don’t have these in place, then your team and business may not be performing to its full potential.

Let’s have a look at the importance of missions and company values in the workplace, and why it is worth the investment to get them right.

The Importance of a Mission and Company Values in the Workplace

The Purpose of Your Business

So, you know the basic purpose of your business, right? Maybe it is to sell tyres or help people invest their money. Knowing your purpose is the basic starting point. Then you need to look beyond your purpose to discover the next level. Your mission and values are about how and why you do something, not just what you do.

Why is it important to get clear on this?

A solid mission and clear company values will guide every aspect of your business. They will help you and your employees make consistent decisions that align with the business, as well as drive the outlook and behaviour of every individual in the workplace.

The Importance of the ‘Why’

When everyone on your team understands their “why,” there is a kind of magic that happens. People are united, work relationships are generally strong, and everyone works towards that delicious common goal.

In contrast, if your values aren’t aligned, you will find people working against one another, job satisfaction and productivity declining – and bam, your business will suffer because of it.

Think of it like trying to insert Baby Spice into a thrash metal band. While an entertaining thought, it is a match that just isn’t going to work out. That is because (presumably) the performers have vastly different values and goals.

Giving People Something to Strive For

Today’s employees are looking for more than just a pay cheque. They want a sense of purpose to give their work meaning. If a salary is your employee’s only motivator, they aren’t going to be personally invested in the success of your business and will move on to where the money is.

Conversely, those that believe in your mission and values are engaged, positive, and will go above and beyond in their day to day tasks.

This is particularly true in the case of Millennials and Generation Z. Numerous surveys and studies have shown that the majority in these generations prefer to be led not managed, and want to make a difference. Having a sense of purpose is hugely important to their loyalty.

Trust and Transparency

Having a crystal clear mission and company values also creates much-needed transparency and trust between management and employees, building accountability.

It tells potential employees who you are and what it would be like to work for you, so a powerful mission can attract high performers who share your passion.

Lastly, but of equal importance, the reputation of your business will only be enhanced by abiding by these key values and working towards that admirable end goal. Engaged employees who understand and buy into the culture of your business will be passionate about communicating it to customers and clients, boosting your reputation and enhancing customer satisfaction.

Setting Your Mission

As you can see, creating your business mission and company values should not be something you dash out in a 10 minute smoko break. They need careful consideration.

Your mission should drive your business. It is what you do – the core of the business – and from it comes the objectives and finally, what it takes to reach those objectives. It should be something that aligns with your overall purpose. But most of all, it should be genuine. If you choose a mission that you feel you should have, rather than one that resonates, then it will not have the impact you want it to. So, select something that your business is passionate about.

If you are having some trouble developing the process around your company values or even the mission itself, then get in touch with us here at Spice HR. We can help you to get everything down on paper and then implemented within your team. Drop us a line today.

What Is Your HR Data Telling You About Your Business?

Data. Many people think of it as numbers that someone rapidly types into a spreadsheet and then uses a complicated formula to calculate something.

But data comes in many forms. Including HR data. That is data that you can use practically in your business to tweak processes, increase staff morale and look after your people better.

We tend to think that if the Spice Girl’s management team had spent more time analysing their HR data, the band would not only still be together today, they would have a level of success to rival the Beatles…

Okay, maybe not. BUT they may have been able to stretch the gig out a little longer, keep their most talented members – ahem, yes, there were a couple! – from jumping ship early and had a much more positive team culture.

How are the Spice Girls relevant to your business? Well, HR is so much more than just crunching numbers, dealing with disputes and endless piles of paperwork. In fact, HR analysis is a rapidly growing field of expertise that modern, successful businesses are using to their advantage.

Let’s look into how you can use this data in your business.

What Is HR Data And How Can You Use It?

There is plenty of useful information in your HR functions if you know where to look for it. Using the data you collect from performance reviews, exit interviews, training information, staff satisfaction surveys, staff retention and even sick days, you can make smart decisions that add immense value to your business.

HR data collection is not a new thing, but utilising it effectively – if at all – is a relatively recent advancement. It is all well and good conducting exit interviews and monitoring sick days, but what is the point if you don’t use that information? It’s like buying a rack full of spices to improve your cooking and leaving them sitting in the back of the cupboard.

The key to using this information to drive success is knowing what to look for. Is there a specific issue or question you want an answer to? Do you want to know how to reduce absenteeism, evaluate staff training, or predict which new hires are going to stay the distance? HR professionals can nail down the questions, use the freshly gained or existing data to do all of these things and more.

Here are just three things your HR data will tell you if you know how to ask:

How To Retain Your Top Talent

Does your data suggest that once your employees become proficient at their jobs and reach a certain level, they will leave? Then it is time to dig a little deeper to find out WHY this happens. Then you come up with solutions to keep your top achievers on board, such as more opportunities and training, or a better work environment.

You will only find out the reason for their departure by asking them. We suggest conducting an exit interview with each team member that leaves the company. Not all will be leaving because of the happenings at your business, some will leave for personal reasons. But, you can find out a lot about the culture, processes, work environment and available resources by asking people their opinions.

How To Keep Your Employees Happy

Everyone knows that a happy employee is a productive, loyal employee. Do you really know if your top performers are satisfied with their work?

If not, find out. You can look at absentee rates between departments or individuals, assess who your most efficient team members are, then use those insights to make improvements. The bonus of a happy workforce is staff retention, which saves big money on recruitment and increases efficiency.

You can also ask your team to answer some survey questions. To find their true feelings, you can make it anonymous. You just need to ensure that you are asking the right questions to get the targeted data that you need.

Assess Performance

Did Posh Spice work harder than Baby Spice? Did Sporty bring in more money than Ginger?

They are important questions to ponder within your own team. If you know which employees work faster and produce a higher quality of work, you can aim to replicate that productivity across the board. A key thing to understand is, what is making them so much more efficient than the rest of the team?

Once you understand that, you can act accordingly. It might mean offering further training for underperformers, boosting staff morale, offering flexible working conditions, team building, or any number of other things.

If you would love to access the hidden gems in your HR data but you aren’t sure where to start, then give us a call here at Spice HR. We can help you sift through the information and boost business at your place. Get in touch today.

Stop. Collaborate and Listen …

Stop. Collaborate and Listen … Spice is back with a brand new invention.

Got an HR problem yo, we’ll solve it. Check out our skills while the Spice Gals resolve it!

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Listening is Everything

Listening in Orange

The art of listening is a learned skillset that can have a tremendous impact on your work environment. It will ensure you actually hear when your staff tell you what they want, what they really, really want!

Call the Spice Gals today to spice up your listening life – if you really, really, really wanna zig-a-zig-ah!