A company’s culture has a powerful impact on its performance. Culture is the glue that binds an organization together. Competitors can have the same product but they can’t have the same culture because that’s what makes each company unique.
Companies who invest in their employees by helping them to understand what the organization’s values are and why they do what they do it – will always stand out. Employees who buy into an organization’s core values will be more engaged and more productive. That’s what that creates winning cultures in successful organizations.
As a result, these companies gain a competitive advantage that can’t be duplicated. Happy employees equal happy customers’ equal higher profits. Sounds simple?
If so, then why are only 30% of the American workforce engaged at work while 70% [70 million in the US] are somewhat disengaged or actually checked out? According to Gallup Poll [*Sept. 2014], $450 to $550 billion are lost annually in productivity due to disengagement.
Why do so many companies miss the mark on employee engagement? When it’s a well-documented fact that employees are a company’s greatest asset, why don’t companies invest more in their employees? Or, if they are investing in their employees, why are so many employers still not seeing productivity improve?
If this is happening in your organization, how can you change it?
To start with, do you have the right employees? If you don’t have the right employees who believe in your company values and vision, then providing perks, games and more time off, you might keep them longer; however, do you really want to keep disengaged employees who are just there for a paycheck and but not highly productive?
When it comes to engaging your team, the first place to look is at your company’s core values. Your organization’s core values are the pillars, or the foundation of your company…they are the driving force that will create a culture of engaged employees.
When those values don’t exist or are just an overlooked plaque hanging on a wall, then one will have found the evidence that’s keeping the company from creating a winning culture, not having highly engaged employees and lower profits directly affecting the bottom line.
Engaged organizations that have strong, authentic values and empower their employees to have confidence in making decisions on a daily basis. They will be grounded in mutual respect, commitment between employer and staff, feel understood and find purpose and meaning in what they do.
According to GloboForce**, employees familiar with company core values are:
- Able to help achieve company objectives
- See company culture as positive
- Identify themselves as highly engaged
How can any company expect employees to be fully engaged if they don’t know what the business embodies and believes in? If these values aren’t being brought up in the hiring decision process and onboarding plan, then chances are high that your organization will have less engaged and less productive employees…possibly who are not even a good cultural fit. This will have a real impact on your bottom line. Here are two things that are worth your time to consider:
#1 – Start bringing your values to light if you have them. Get them off your wall and bring them into the board room, every employee/staff meeting and start engaging your employees with adopting them into their everyday actions. As the employer, you can begin rewarding your employees when you see them implementing your company values.
#2 – If you don’t have your company core values identified, your mission and vision defined, then it’s time that you get this done. It takes real effort, and it’s not an easy process, but well worth it if you’re looking to engage, retain and grow a highly productivity team. You can get help from trusted outside resources to help you through the process.
If you’d like to learn more about companies who get this right and who have created highly profitable businessess using core values to create winning cultures, I attached my white paper on “How to Create More Value in your Business”.
*[State of the US Workforce: Sept. 2014]
**Globoforce. (2016). The ROI of recognition in building a more human workplace. Workhuman Research Institute. Retrieved October 2016 from http://go.globoforce.com/rs/862-JIQ-698/images/ROIofRecognition.pdf