In today’s competitive job market, attracting suitable candidates can be challenging for businesses of all sizes. While competitive compensation packages and benefits can be a draw, job seekers increasingly seek more meaningful experiences from companies whose core values align with theirs. A 2019 survey by Glassdoor found that 79% of job applicants would consider a company’s mission and purpose before applying, with company culture and values being even more critical among millennials and Gen Z.
By establishing and promoting strong core values, businesses can attract top talent and build a culture that fosters growth, innovation, and success. Use the strategies outlined in this article to establish and promote your company’s core values effectively, and watch as top candidates flock to your organization.
The Importance of Values
If you want to hire the best people for your business, you need to show them why they should work for you. And one of the most effective ways to do that is by having strong and clear company values.
Company values are the core principles that guide your organization’s culture, behavior and decisions. They express what you stand for, what you believe in and what you aspire to achieve. They also communicate to potential hires what kind of work environment they can expect, how they will be treated and what sort of impact they can make.
According to a study by LinkedIn, company values are rising in importance for professionals across the globe. The research found that 59% of respondents in Europe stated that they would not work for an organization that does not share their values, with 55% reporting that even a pay increase would not change their minds. The figure rises to 87% for workers in the US and 85% for those in Brazil.
This trend is driven primarily by younger generations, who are looking for more than just a paycheck; they want to work somewhere that aligns with their beliefs and values. As a result, having strong company values can help you:
- Attract more qualified candidates: By showcasing your values on your website, social media, job descriptions and employer branding materials, you can appeal to candidates who share your vision and mission. This can help you attract more applicants who are genuinely interested in working for you and who fit your culture.
- Increase employee engagement and retention: By living up to your values and demonstrating them in your daily actions, you can create a positive and supportive work culture that fosters a sense of belonging, purpose and growth among your employees. This can help you increase employee satisfaction, loyalty and performance, and reduce turnover.
- Enhance your reputation and credibility: By having consistent and authentic values that reflect your social responsibility and ethical standards, you can build trust and respect with your customers, partners, investors and the wider community. This can help you enhance your reputation and credibility as a business that cares about more than just profits.
Establishing the Best Core Values for Your Business
While there is no one-size-fits-all approach to establishing core values for your business, several key factors must be considered.
First and foremost, your core values should be authentic and honest, reflecting your business’s unique culture and identity. Having strong company values is not enough; you need to make sure they are relevant, realistic and resonant with your target audience.
When establishing your core values, consider the following questions:
- What are the fundamental beliefs and principles that guide our actions and decisions?
- What are the unique qualities and characteristics set us apart from other businesses in our industry?
- What do we want to be known for, both internally and externally?
- What behaviors and attitudes do we want to encourage and discourage in our employees?
Here are some steps you can take to create and showcase your company values effectively:
Involve your employees
Your employees are the best source of insight into what makes your company unique and valuable. Involve them in the creation process by conducting surveys, interviews, focus groups or workshops to gather their feedback and ideas. This will help you ensure that your values are representative of your diverse workforce and that they are aligned with their expectations and aspirations.
Define your purpose
Your purpose is the reason why your company exists and the impact it wants to have on the world. It should be clear, concise and compelling, and it should inspire your employees and customers alike. Your purpose should also be linked to your values, so that they support each other and create a coherent narrative.
Choose your values
Based on your employee input and your purpose, choose a set of values that reflect your core beliefs and principles. Ideally, you should have between three to five values that are easy to remember and communicate. Avoid generic or vague terms like “excellence” or “integrity”, and instead use specific and meaningful words that capture your essence.
Communicate your values
Once you have defined your values, make sure they are visible and accessible to everyone. Display them on your website, social media, office walls, newsletters, presentations and any other touchpoints with your internal and external stakeholders. Use stories, examples, testimonials and data to illustrate how your values are applied in practice and what benefits they bring.
Put your money where your mouth is
The most important step is to ensure that your values are not just words on paper, but instead backed up by tangible actions and behaviors. Make sure that your policies, processes, rewards, recognition, training and development are aligned with your values. Encourage your leaders and managers to model your values in their interactions with employees and customers. And celebrate and reward employees who demonstrate your values in their work.
Promoting Your Company Core Values
Once you have established your company’s core values, promoting them effectively to attract top candidates is essential. You can use several strategies to communicate your values and demonstrate how they guide your actions and decisions.
One of the most effective ways to promote your company’s core values is to highlight them in your job postings. This can attract candidates who share your beliefs and seek meaningful work experience. Be sure to include specific examples of how your values are practiced in your organization and emphasize the importance of those values to your business.
Social media platforms like LinkedIn, Facebook, and Twitter are great resources for promoting your company’s core values. Be creative in your messaging, using images, videos, and other media to showcase your values and demonstrate how they guide your actions and decisions. Share stories and examples of employees who embody your core values, and encourage your followers to engage with your content and share their experiences.
During the interview process, ask candidates specific questions that help you understand their values and beliefs. This can help you identify candidates who are a good fit for your organization and likely thrive in your culture. Be sure to ask open-ended questions that allow candidates to share their own experiences and perspectives, and be prepared to share your own values and beliefs as well.
Your current employees can be powerful advocates for your company’s core values. Encourage your employees to share their experiences and perspectives on social media and other platforms, and provide them with the tools and resources they need to promote your values effectively. This can help attract top candidates who are looking for a supportive and inclusive work environment.
Finally, one of the best ways to promote your company’s core values is to get involved in your community and support causes that align with your beliefs. This can help demonstrate your values in action and show that you are committed to making a positive impact in the world. Whether it’s volunteering, making donations, or participating in community events, getting involved can be a powerful way to attract top candidates and build your brand.connex
Company values are more than just a nice-to-have; they are a must-have for attracting and retaining top talent in today’s competitive job market. By having strong company values that resonate with your employees and customers, you can create a distinctive employer brand that sets you apart from the crowd.
If you’re looking for top talent, get in touch with us today.