Corporate values

The head of the recruitment agency presented their “prized catch” to the managing director and asked:

“Sir, we found three candidates as per your requirements. How do you want their placements, Sir?”

The managing director said:

“To ensure that the people are placed in the right fit, put about 100 bricks in a closed room. Then, send the candidates into the room and close the door. Leave them alone, come back after a few hours and analyze the situation:

If they count the bricks, put them in the accounts department.

If they are recounting the bricks, put them in auditing.

If they messed up the whole room with the bricks, put them in engineering.

If they arrange the bricks in some strange order, put them in planning.

If they throw the bricks at each other, put them in operations.

If they are sleeping, put them in security.

If they broke the bricks into pieces, put them in information technology.

If they say they have tried different combinations, yet not a single brick has been moved, put them in sales.

If they have already left for the day, put them in marketing.

If they are staring out the window, put them in strategic planning.

If they are talking to each other and not a single brick has been touched, congratulate them and put them in top management.

Have you ever walked into a corporate office lobby and noticed their mission, vision and core values proudly displayed in bold, vibrant colors? Some have their “corporate creed.”

At one time, these statements were printed on the back of corporate ID cards. While some of my clients still do this, it’s not as common as it once was. Have you ever wondered what those statements – especially the corporate values – are really for? How important are they? Do they simply serve as an ornament for office lobbies, websites and annual reports?

The purpose of having corporate values is to define the guiding principles and beliefs that shape an organization’s culture, decision-making and overall direction.

Here are the key reasons why corporate values are important:

Provide direction and purpose: Corporate values help clarify the mission and vision of a company, serving as a compass that guides decisions and strategies. Employees can align their actions with the values, ensuring the company stays on track toward its goals.

Shape company culture: Values influence workplace behaviors, attitudes and interactions. A strong set of values can foster a positive, inclusive and productive work environment, which is crucial for employee satisfaction and retention.

Promote consistency: With clear values, companies can ensure that their actions and decisions remain consistent, even as they grow or face challenges. This consistency helps build trust with employees, customers and other stakeholders.

Attract and retain talent: Employees often seek alignment with a company’s values, feeling more motivated and engaged when they believe in the organization’s core principles. Corporate values can be a significant factor in recruiting and retaining top talent in the long term.

Enhance reputation and trust: Values such as integrity, honesty and accountability foster trust with customers, investors and the public. A company that lives by its values is more likely to build a strong, positive reputation in the marketplace.

Guide decision-making: Corporate values are a reference point during challenging decisions or uncertainty. They help leaders and employees make choices that align with the organization’s ethical standards and long-term vision.

Corporate values help create a unified, purpose-driven organization where everyone, from leadership to front-line employees, is aligned and working toward shared goals. They are the backbone of a company’s identity and long-term success.

Corporate values serve as a compass that guides and points to the “proverbial north” so that the organization and its people do not lose their way even as they navigate the uncharted waters of change. The challenge is that many businesses and their leaders don’t take their values seriously. Worse, some even violate them, leading to compromised integrity and a culture of mistrust.

The good news is that more of my corporate clients are becoming intentional about this, actively articulating their values and designing training programs around them, particularly in their leadership development initiatives.

When businesses ignore their corporate values, it’s like having a compass that always points to “Lost.” Not following your corporate values is like having a map but choosing to drive in circles. And one more thing, skipping corporate values is like putting up “Teamwork” posters while everyone’s too busy sending passive-aggressive emails!

Perhaps they should be returned to a room and given bricks to work on.

(Francis Kong’s “Inspiring Excellence” podcast is now available on Spotify, Apple Podcasts, Google Podcasts, or other podcast streaming platforms).