Mission Statements and Core Values: Why there are important
Creating a mission statement and a set of core values for your business is often dismissed as a routine public relations task, something to cut and paste from when issuing a press release with not much practical significance. This couldn’t be further from the truth. Without a sense of cohesion in your business and a framework to place an employee’s individual contribution within, your business and your employees will lack focus.
A business is made up of people. People respond to tangible values and a sense of purpose. You may not think your business has any unique values, but chances are that if you’re trying to differentiate yourself from your competitors, that difference probably hinges on a value judgement made somewhere along the way. Take the time to discern what your businesses values are, or should be, and craft a mission statement accordingly. The implications for your business could be profound. If you need more persuasion, here are the most important reasons your business needs core values.
Clarity of vision
A business whose employees don’t possess a set of commonly held beliefs have nothing to guide them other than their job description. A job description can’t adequately take into account the broader implications of a person’s role within an organisation. It’s essential that everyone working for a business feels part of the bigger picture. Value statements become deeply ingrained in employee behaviour and act as a measuring stick for what is acceptable and what is exceptional. We are all human, although people often think they are motivated by money and success, this isn’t actually the case. Money and success are ways we exhibit our need for self-respect and sense of purpose. If your business gives your employees a sense of purpose that they can invest in, they will have greater job satisfaction and be more productive as a result.
Attracting passionate employees
Setting out your vision and core values helps to attract potential employees to your business who share the business’s aims and objectives. Nowadays, many workers choose a career in keeping with their own ethical beliefs. While your business may not be able to pay as competitive a rate as your competitors, you may be able to distinguish your business on the basis that the brand has more integrity and holds true to a set of core values despite market challenges. This may attract a higher calibre of employee because they hold the same values.
Streamlined decision making
Clearly defining a business’s values can eliminate a lot of the decision-making challenges that can often arise in a large business. Mission statements and core values empower your staff to make decisions because they have a set of principles to inform their choices. This removes the need to keep referring to someone higher up the chain before an outcome can be arrived at. For example, if a core value of the business is to always uphold the quality of your product, anything that jeopardises quality can be easily identified and effective action can be taken.
Educate existing and potential customers / clients
In a competitive marketplace, it may not be immediately obvious to your potential customers what makes your business different from your competitors. Core values allow you to clearly describe what makes your business special and why. The public shouldn’t have to struggle to decide why they should choose your business over another. A mission statement allows you to explain in plain language what makes your business unique.
Core values allow a business to take responsibility for its actions, products/services, policies, and decisions. Creating a set of core values empowers an organisation and the individuals within it to perform to their best ability. If high standards of behaviour and conduct aren’t set, then they can’t be exceeded. Your core values are the DNA of your business; without them, your business is lifeless. If you haven’t done so, take the time to create a set of authentic values, it will pay off in the long-run.
If you would like Delphinium Business Coaching to facilitate a workshop to help you to identify your vision and values contact us to discuss your requirements.