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.