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Terms

Value Statement

What is a Value Statement?

A value statement is a list of core principles that guide and direct an organization and its culture, serving as a moral compass for the organization and its employees. It helps in decision-making processes and establishes a standard for assessing actions, ensuring that the organization and its employees uphold the core values in their daily operations and interactions.

Crafting Your Value Statement

Creating impactful value statements involves:

  • Collaboration: Involving employees and leadership in the process.
  • Research: Conducting in-depth research on company goals.
  • Ideation: Brainstorming ideas that reflect the company's values.

A well-crafted value statement significantly impacts:

  • Employee Engagement: Aligns the team with the company's culture and goals.
  • Talent Attraction: Attracts top talent.
  • Retention: Reduces employee turnover.

Key Components of a Value Statement

  • Uniqueness: Ensure the value statement reflects the company's distinct principles and culture, setting it apart from competitors.
  • Emotion: Use language that evokes emotion and resonates with employees, fostering a sense of connection and commitment to the values.
  • Conciseness: Keep the statement brief and to the point, making it easy to remember and refer back to when making decisions.
  • Jargon-free language: Use clear and simple language that is understandable to everyone, avoiding industry-specific terms or complex phrases.
  • Collaboration: Involve employees and leadership in the process, ensuring the value statement aligns with the team's beliefs and the company's goals.
  • Relevance: Make the values relatable to the team's daily work lives, guiding behavior and decision-making effectively.

Value Statements vs. Mission Statements

A mission statement explains an organization's reason for existence, focusing on its purpose, intention, and overall objectives. It communicates purpose and direction to stakeholders, guiding the company's goals and actions.

On the other hand, a values statement lists the core principles guiding the organization and its culture, serving as a moral compass and guiding decision-making.

Implementing Your Value Statement

Implementing your value statement is a crucial step in aligning your team and fostering a strong company culture. Begin by incorporating the value statement into your company culture, ensuring it serves as the foundation for guiding employee behaviors and decisions. Align the value statement with your company's goals, acting as a guiding light for decision-makers to make choices that help achieve business objectives.

Next, create an action plan to bring each value to life within the organization. This may involve setting up dedicated budgets for initiatives that support the values, providing mandatory training for employees, and holding everyone accountable through setting expectations and providing feedback. Finally, celebrate successes when team members embody the value statement, reinforcing its importance and encouraging continued adherence to the company's core principles.

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