Use Your Company Values to Drive Business Success

I’m always on the look-out for CEOs who get the benefit of a Values-driven culture. Since the mid 1980s, company executives have invested billions in time, effort and money to develop mission statements and list the values they need employees at every level to demonstrate to achieve that mission.

However, very few actually do anything with those statements other than create a plaque to hang on the wall or include in their annual report. Then there is Ron Cain, chairman and CEO of TMSi Logistics. As he writes in this article, a values-driven company can better withstand tough economic times, reap bottom-line benefits and track the tangible results.

Quotation

“The difference between companies that can weather an economic storm and those that cannot is a business model driven by values, rather than dollar signs. Values-driven organizations have been able to withstand the test of time, achieving success and maintaining resilience even when economic circumstances have made competitors throw in the towel.

“There are many reasons to implement a values-driven culture. Typically, values-driven organizations operate at a higher level of production, enjoy greater employee satisfaction, and have better employee retention. An employee that feels that his or her individual skills, values, and opinions are recognized and appreciated tends to be more productive and take greater joy in his or her work.

“Translating intangible values into tangible results for both the business and the community are critical indicators of a successful values-based culture. Although the developmental phase is important for determining the existing and desired values of an organization, implementation proves to be the only way that long-term benefits will be realized. Efficient results tracking methods and a plan for achieving the desired key performance indicators (KPIs) gives leaders and team members the ability to effectively measure improvements.”

We, of course, advocate using a strategic recognition program as a means of both positively reinforcing your company values relative to specific tasks and measuring the results. When done properly, you can use recognition as a scorecard to reveal areas lagging in their understanding and demonstration of company values, then target training and intervention directly to those areas.

Well done, TMSi Logistics and Ron Cain. What about your organization? Are you a truly values-driven organization? How is that demonstrated?