Almost every company, irrespective of their size, has a Vision and Mission statement along with a set of core values. Their vision determines what they intend to achieve in the next couple of years and sets them on a certain path. In addition to these, there are the company core values that are responsible for supporting the vision, shaping the work culture and portray what the company values such as its principles and/or beliefs.
Company values help the management in decision making as well as to communicating with the internal and external shareholders. These values educate employees and potential customers about what the company is about and clarify the identity of the company. In today’s competitive world, it is quite essential to have set of specific core values that speak to the public and is definitely a competitive advantage.
For example, Apple has 7 core values that they stand by and make sure every employee believes in it too. One of the most important being, “We believe that we’re on the face of the Earth to make great products that will change the world.” True to their word, they have been consistently releasing revolutionary products and designs over the past couple of years.
When they released the first version of iPhone in 2017, it became the main growth driver for the Smartphone market pushing its competitors to develop new products and operating systems to respond to new market demands. (Source) There have been 9 generations of the iPhone so far and evidently there are more to come.
The gist of this example is that since the employees adhered to the company’s core values, they were committed and intrinsically driven to consistently innovate and come up with new solutions.
Although, an important thing to note here is employees need to first be aware of what the company is trying to achieve and what are its core values. Surprisingly, many are unaware of what the top management is trying to achieve and are disconnected from the overall process. There could be many reasons here such as the management not being open, their own unwillingness to understand the vision, etc. These individuals are typically not engaged or actively disengaged in their work and just focus on carrying on with their basic tasks to get the job done.
Gallup research shows that worldwide, just 13% of employees are engaged in their jobs they are involved in, enthusiastic about and committed to their work and workplace. The remaining 87% of employees are either not engaged or indifferent or even worse, actively disengaged and potentially hostile to their organizations. (Source) That means a staggering percentage is also not committed to adhering to the core values of their company.
Considering the above example, it is very important for companies to ensure that every employee has a thorough understanding of their Vision and Mission as well as their core values.
One of the best ways of ensuring this is through employee recognition practices. Recognition has a huge impact on employees psyche! Recognizing them for their efforts to understand the core values of the company sends an extremely powerful message to the recipient, their work team and other employees through informal as well as formal communication channels.
Benefits of recognizing employees for promoting company values
Attracting top talent:
Probably one of the most important benefits of recognizing employees for promoting company values. Advertising about the positives and different values of a company is a lot less effective as compared to the same message being shared by employees on their own. It is easy for a potential candidate to trust the words of an employee who actually works in the organization and is experiencing these values on a daily basis. Most are aware that through advertising, companies can promote anything they want as long as they have the time and money to do so.
Thus, the company gets to be more popular among job seekers. They can select the most talented ones out of the bunch as per their needs and requirements.
Increase in organizational productivity:
When employees feel they are appreciated for believing and following the company’s values, they will be motivated to implement them into their actions and become more efficient in their job. Thus increasing overall productivity of the organization.
Higher engagement levels:
When employees are updated with the knowledge of company’s goals and objectives, they are able to see the bigger picture of what will be the final outcome. They are no longer spectators but active contributors to the company’s success. They become more engaged in their work as well as in the company. Thus, employee engagement levels increase significantly once they begin comprehending the purpose and motives behind all actions taken.