I work with a lot of HRs and the question I always ask them that most stumble over is “Can you tell me your values?”
They know how important core values are but struggle to bring them to life.
Core values are critical in today’s workplace. It’s what separates the average companies from the legendary ones. It’s what allows you to attract and keep top talent that grow your business without you having to motivate or watch over them.
They naturally attract the right type of employee while at the same time repel the wrong type of employee leading to a high-performance dream team.
According to Jim Collins author of the best selling book “Good to Great” said… “You can’t instill new core values in people. Instead what you do is find people who already have a predisposition to share your values. The right people don’t need to be tightly managed.
The right people are self-motivated, self-disciplined, self-obsessed to get great results, self-learners. The moment you feel the need to tightly manage someone you might have made a hiring mistake.”
That’s why it’s critical to have core values.
But how do you come up with great core values that skyrocket productivity and make recruiting and keeping great talent so much easier?
It’s actually very simple.
When I’m consulting with clients I give them all the LocalSphere’s Mission to Mars presentation. It’s a powerful and easy way to create your core values. Here’s a quick summary of it. You first ask yourself this question…
If you were to re-build your company on Mars and you could only send 5 people, who would you send?
Now, these people are not necessarily your top performers because many times companies top performers are not the best ambassadors for the company.
They are the people that command the highest level of respect among their peers and have the highest level of competency.
Once you write down these 5 people. Next step is to answer these six questions:
1.) What personal values do they exhibit?
2.) What characteristics do they have?
3.) What values do they bring, regardless of whether or not they are rewarded for doing so?
4.) Who would you send to Mars?
5.) What are the values/characteristics they all share?
6.) What are the intersections?
After you go through these questions. The last step is to choose 5 values that your team is the most passionate about.
You can also come up with your own core values by understanding the values of legendary companies like Netflix and others.
The Most Important Document Ever to Come Out of Silicon Valley
Netflix released what Sheryl Sandberg, the chief operating officer at Facebook, called “the most important document ever to come out of Silicon Valley.” It went viral and was viewed more than 18 million times.
It was a huge 125 PowerPoint deck explaining how Netflix shaped the culture and motivated high performance.
What was interesting about it was Netflix only hires or promotes people who share their core values. People who don’t are fired or not hired even if they are a superstar. They know that having one person on the team that doesn’t share their values will affect everyone else causing a downfall of the company.
Netflix doesn’t need sushi lunches, fancy offices, great parties to keep and attract great talent. The people they attract that share their core values don’t care about that.
Here are Netflix’s core values:
For contrast here are Amazon’s:
- Customer Obsession
- Invent and Simplify
- Are Right, A Lot
- Learn and Be Curious
- Hire and Develop the best
- Insist on the highest standards
- Think big
- Bias for action
- Earn Trust
- Dive Deep
- Have Backbone, Disagree and Commit
- Deliver Results
Amazon and Netflix naturally attract different types of employees because of their core values. People who fit perfectly with Amazon are not necessarily going to be a good fit or like working for Netflix. And vice verse.
How to Model Core Values The Right Way
So take the ones that resonate with you and your team the most to create your own core values. However, you don’t want to use core values you think you should have because one great company has them. You and your team have to be passionate about them. They also need to be specific to your company.
If you don’t believe in them your employees and customers will feel it.
I’ve seen so many HRs begin by sitting down looking at other great company’s values and saying, “Well, you know, we should have some of these core values. I think passion is a good one to have. Amazon has deliver results so we should include that one too.”
Or they just copy the entire list of one company and use for theirs.
You don’t want to do that.
Core values are what you and your team are deeply passionate about. Live and breathe. They are already inside of you.
If any of the great companies values fit that. Great then add that to your list.
One of my core values for my company is recognition. According to a study done by CareerBuilder, 50% of employees would stay if they were just recognized and according to Forbes, 76% of millennials will leave if unappreciated.
I learned this the hard way when we were working on a huge project and all of a sudden our 3 lead developers quit at the same time.
I was shocked and tried to remain calm because my staff was watching. I wanted to find out why. I thought, is it because we didn’t pay them enough? Give them enough vacation? It turned out they quit because they were just not recognized for working 12-15 hour days to get that project done.
That experience shaped my values and led me to create an employee rewards and recognition system to keep and attract A players.
Legendary companies understand how critical it is to recognize employees. Many of the best in the world have a recognition system in place that makes it easy for employees to recognize each other. In fact, employees seek recognition more than money nowadays.
Studies show 67% of employees say recognition is a top performance motivator and companies who do it have a 21% higher productivity.
That’s why we’ve seen more and more companies create a core value “channel” where staff can recognize each another.
Like the famous 1-800-GOT-JUNK. They streamline this process by using a powerful tool called Bucketlist. It sends out little reminders to staff members who haven’t recognized anyone in a while. The best part is you don’t have to remind employees it does it for you. Makes it natural and easy for your employees to recognize one another without you having to lift a finger.
Not only that it has a built-in rewards program where your staff can choose from 1,000s of reward ideas that will please all so you don’t have to guess. Allowing you to motivate your staff to get great results and skyrocket productivity automatically. Click here to learn more.