Company values are the fundamental beliefs on which business is based. These are the main principles used when interacting with other companies, customers and employees. Once the list is defined, the values should be firm and unwavering – literally an ultimatum, not an offer. They must affect every aspect of the business, from employee remuneration and workplace behavior to defining marketing strategies and customer service.

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The values set by the company are not just a list of rules, but tools that can be applied in practice. If an organization does not adhere to its own beliefs, it is always noticed by consumers which leads to a loss of confidence and reduced sales. In addition, the morale of employees can thus be undermined, which will certainly affect the quality and performance.

Why is it important to set corporate values?

Employees and customers always prefer to deal with companies whose values coincide with their own. This makes the task of setting values an important factor in driving sales and attracting better employees. In addition, properly defined values help the company to determine the direction of movement and ensure a stable reputation. They set the tone for customer interaction, help sell products and make important decisions.

If you take this part of corporate culture seriously, you can form a recognizable corporate style and an excellent, effective business plan based on it.

What should the values be?

First of all, the company’s values must be specific. No one needs a list of high unattainable ideals. They must meet the company’s goals. For example, compliance with the letter of the law for an organization specializing in modern technology sounds vague, but ensuring the confidentiality of customer data is exactly what is needed.

Instead of seeing values as beliefs, you should see them as a choice. After all, customer service is important for most companies. What sets one company apart from another is certain actions to ensure that value. For example, having 24-hour customer support and, as a result, investing in staff and work tools to meet commitments. Of course, like any choice, values have a value.

You need to be prepared to uphold core values in difficult situations, even if it would be easier and cheaper to ignore the problem. For example, when a company declares its commitment to sustainable development, it is obliged to use environmentally friendly materials, despite declining revenues. Values that are worthless to those who affirm them are irrelevant to everyone else.

Values also require action. Values without action are empty words. If a company claims to value innovation, it has no right to require employees to work under a certain scheme just because “it has always been done that way.” Instead, new ideas should be actively considered and encouraged to implement them.

Global EOR provider Acvian is driven by fundamental principles to deliver the best service and care to the customers. These values set the foundation for a successful business: