Values play a crucial role in shaping workplace culture and behaviour. Acting as a guiding principle, they help employees understand what is expected and what the business stands for. Employers with well-defined values create a sense of purpose and alignment among employees. The result? Higher levels of engagement, productivity, and job satisfaction.
What are values in the workplace?
Simply put, values are basic principles that favour certain goals, attitudes, and actions over others. In a workplace setting, values that are consistently practised by employees will become a characteristic of the business. To serve their purpose, values impose preferences and priorities. This means that when faced with trade-offs, a business’s values will systematically prefer some options and choices over others. Values imply commitment, and in some instances even sacrifice.
Why do values matter so much in business?
It helps define culture
Culture is much more than fancy offices, perks, or casual Fridays. It is made up of all the factors that make a business, well, a business. From the elements that drive decision making, to policies and how people undertake day-to-day operations, team dynamics and the tone that people use to interact with one another. In elevating some goals over others, values provide the settings that define a work culture.
It cements working relationships
Relationships are built around shared expectations of future behaviour. When these expectations are met, over time mutual trust builds forming a higher level of joint commitment. Values in the workplace are a reliable indicator of future behaviour, creating a benchmark for behaviour and dispute resolution. Since authentically held values are so helpful in predicting behaviour, it is no wonder they are a critical component of quality relationships.
It supports efficient decision-making
Leaders often don’t have the capacity to micromanage every decision. But with a clear set of core values in place, stakeholders can better determine which options and choices are preferrable to the business. Values provide decision-making shortcuts during times of uncertainty or pressing deadlines. Decisions remain effective while staying true to the business’s long-term goals and identity.
It sustains a business’s mission
Businesses with a sense of purpose tend to grow faster than those without one, but purpose alone is not enough. A set of core values that are consistent with the broader business purpose helps to shape the journey.
Values provide businesses with a key combination of structure and flexibility to achieve goals. However, values ultimately come down to actions because however nice words on paper are, inaction on core values can quickly turn to confusion, cynicism, and chaos. When leaders fail to uphold their stated values, it creates a disconnect that can erode trust and lead to disengagement among employees.
Values are essential to a positive and effective workplace culture as they provide a foundation for expected behaviours, decision-making, and overall business identity. Values guide employees towards a common purpose, fostering a sense of belonging, and influencing productivity, job satisfaction, and even employee retention.
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