Values: The Secret Sauce for Business Growth
by Marc Eichner
Values, the heart of an organization, silently steer the business toward sustainable growth and success. Acting as guiding principles, they shape every workplace interaction, decision, and action.
Let's dive into how values can help your company and people.
The Role of Values in Sustainable Business Growth
Embedding solid organizational values isn't an optional extra; it's a critical business mandate. Businesses that firmly foster and communicate values see:
- 8x more productive teams
- A 2,000% increase in applications
- A promising forecast for future revenue growth with even a slight increase in value-focus
Additionally, emphasizing values encourages employees to tap into their resilience during challenging times. In an age where organizations require more with less from their teams, success depends on innovative, adaptable individuals who can successfully navigate uncertainties.
Values: Boosting Personal Well-being and Resilience
Organizations with a strong value-focus find that these principles act as a buffer against personal difficulties, thereby enhancing resilience—a key factor in both personal success and overall organizational performance. These organizations see that:
- Employees take greater care of their well-being, leading to increased productivity.
- There's a rise in the confidence to view situations from different, more beneficial perspectives.
- Employees recover more quickly from challenging experiences.
Thus, values play a pivotal role in cushioning against adversity, boosting resilience and cognitive adaptability.
Values: Fueling Flexibility and Innovation
Employees in value-centric organizations often highlight flexibility, agility, and innovative problem-solving—essential traits when resources are scarce or uncertainties high. In such organizations, employees:
- Display stronger resilience after setbacks and an enhanced ability to refocus post-distraction.
- Excel in brainstorming diverse solutions to problems.
- Consistently rate their teams highly for creative problem-solving strategies.
Building Resilient Teams with Shared Values
Emphasizing shared values strengthens social support and communication within the organization, promoting learning and mutual support among employees. Such value-focused organizations observe:
- An increased willingness to offer encouragement during difficult times.
- A heightened sense of connection within teams.
- Greater readiness to seek help during challenging periods, rather than attempting to cope alone.
In essence, shared values are key to creating supportive work environments and resilient teams, thereby boosting long-term performance and morale.
The Path to a Values-Driven Organization
A commitment to shared values can offer impressive returns, including talent retention, resilient team creation, and the spark for innovation and transformation—crucial in today's ever-evolving business landscape.
Establishing a value-centric culture doesn't have to be a lengthy process. A modest investment in cultivating shared values can spark positive changes rather swiftly. For instance, a leading tech company saw significant progress in achieving sales goals and expanding opportunity values after adopting a value-focused approach.
Finally, empowering leaders to fulfill their potential can inspire heightened team engagement and performance. Plus, emphasizing shared values significantly boosts retention—a major contributor to long-lasting business success.
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