Culture

Company Core Values Uncovered: 4 Valuable Reasons Why to Define Them & How to Do It (Examples Included)

Published
Jan, 11, 2024

5 minutes

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What are company core values?

Company core values are the core principles and beliefs that guide an organization’s behaviors, decisions, and actions. They serve as the foundation upon which a company’s culture is built, underlying principles of companies’ culture, human resources principles, elements of motivation, and guiding principles (to be aligned with company’s ethos). 

Values furthermore give directions for business process and outputs, from product development to market positioning, ensuring that the company’s actions are consistent with its core beliefs.

Definition of an IT companies core values
Defining core values

The top factor of employee experience and satisfaction is the culture and core values of an organization. Over 75 percent of employees consider it “very important” to work for a company with defined core values. This translates to a better bottom line: companies with highly aligned cultures see 30 percent higher growth and 17 percent higher profit growth.

According to the Harvard Business Review article by Dr. Natalie Baumgartner, Chief Workforce Scientist at Achievers, 26 percent of employees would forego a fancy title and 65 percent would accept lower pay rather than deal with a poor workplace environment.

Aside from employee experience, companies’ values impact relationships with customers, partners, and shareholders. 88% of employees believe a strong company culture is key to business success.

Your company core values are your company’s DNA, and they help you differentiate your business from the competition. That’s why you can’t make any important business decisions without having them in mind.

It’s important for companies to not only define their values but also to actively embody and reinforce them through actions, policies, and decision-making processes. When values are genuinely integrated into the company culture, they can serve as a powerful tool for alignment, motivation, and the creation of successful output. 

How to define and live by your company core values

Defining your company values requires a close examination of your organization’s culture and vision. Think deeply about how to use your values to illustrate what your company hopes to achieve and represent. Consider these guidelines when establishing your company core values:

Guidelines for defining core values

#1 Simplify: Ensure your values are concise and memorable. Avoid complexity; focus on clear, relatable words that anyone can understand and embody.

#2 Be specific: Avoid vague corporate jargon; relate values directly to your company’s mission and goals. Connect them to your products/services and company culture for clarity.

#3 Dual focus: Consider both internal and external impacts. Acknowledge how company decisions affect both employees and the wider world. This fosters hope within the team and builds trust with customers.

#4 Uniqueness matters: Set your values apart. Highlight what distinguishes your organization from others. Emphasize these unique aspects in your values to attract the right talent and clientele, avoiding a generic image.

Making company values a part of daily life

According to the Achievers Engagement and Retention Report, 45 percent of employees say that their leadership is “minimally” or “not at all” committed to improving company culture. Leaders need to focus on building a culture that aligns with company values to motivate their employees.

Recognizing employees who embody your company values connects your workforce and unites them in support of your culture. Achievers data shows that every time organizations double the number of recognitions in their organization, their overall engagement is expected to go up five percentage points, which is linked to a three-point increase in revenue growth the following year. And companies with culture alignment are six times more profitable.

People seek purpose in their lives — and that includes work. 93% of employees would stay at a company longer if it invested in their careers. The more an employer limits those things that create this sense of purpose, the less likely employees will stay at their positions. 

The era of the employment contract, where a worker provided services purely in exchange for monetary compensation, is over. Nowadays, employees expect deeper relationships, a strong sense of community, and purpose-driven work.

Communicating core values to retaining talent & customers

Company core values wield influence across your entire business landscape, impacting both internal and external stakeholders. Effective communication of these values is key, and it should not be limited to occasional PowerPoint presentations or monthly newsletters. It’s more than comprehensive blogs; it’s about fostering a shared ethos within your community, from committed employees driving the extra mile to customers proud of their affiliation with the company. 

Understanding your audience’s values is crucial for attracting and retaining talent. Employees departing due to a mismatch in company culture underscore the significance of values in reducing turnover rates.

Candidates extensively research companies before applying, seeking alignment with their own values. As an employer, evaluating cultural fit during interviews is pivotal to avoid increased turnover.

Beyond guiding employees, communicating core values effectively to clients is vital. Potential clients also prioritize aligning with a company’s values. Similar values can tip the scale in your favor, fostering connections with clients who appreciate shared principles like accountability. 

It clarifies your brand identity, presenting specific values as a competitive advantage. Building client relationships based on shared values fortifies connections through common beliefs.

For effective messaging alignment, your marketing and internal communications teams must grasp these values. Consistency is crucial; unclear values often hinder communication strategies. Understanding company values significantly enhances marketing success, resonating with target audiences and building trust. Authentic messaging and aligning with audience values is key to capturing attention and converting leads.

Examples of core company values

Integrity
Making ethical, transparent, and well-intentioned decisions.

Innovation
Pushing past the status quo with new and progressive ideas.

Accountability
Owning the decisions made and their outcomes.

Honesty
Being upfront and forthcoming with information and insights.

Respect
Treating all employees, clients/customers, and stakeholders well.

Passion
Expressing excitement for the work being done and shared objectives.

Trust
Nurturing positive relationships at all levels of the organization.

Teamwork
Working cohesively and collaboratively.

Creativity
Finding new ways of thinking, learning, and doing.

Leapwise’s core values

The values embraced by our company echo the fundamental belief that exceptional software stems from the dedication of exceptional individuals.

At Leapwise, we profoundly value our employees, clients, industry standards, and the relentless pursuit of excellence. Our commitment is to consistently set high standards, ensuring that we deliver the best possible products on the market. We deeply appreciate and recognize the efforts of our valued team, whose contributions shape our success.

Our guiding values encompass:

PEOPLE- FIRST
People first is a mindset. We take care of people by providing meaningful work, offering opportunities for professional advancement, and valuing work-life balance. 

AUTHORITY
The cornerstone of every top-tier software is manifested through our adherence to clean code principles and profound domain knowledge. Our commitment is evident in regular code reviews and the certifications we hold. 

MAINTAINABILITY
We prevent technical debt by following a steadfast approach to software architecture, design patterns, and clean code. 

GET IT RIGHT THE FIRST TIME
Our methodical approach ensures that we think every detail through, sketching and planning comprehensively before execution. We foster a culture that cherishes professionalism and attention to details. 

GO THE EXTRA MILE
A strong dedication to our work pushes us to do more than required – and is always rewarding.

TRUST & TRANSPARENCY
We like our projects well-structured and well-defined. We like our conversations honest and open. There’s no place for ego when fostering meaningful relationships that boost creativity at work.

Our core values

Leapwise truly lives by these values, and considers the people-centric perspective to be a key component to bettering the software development community and running a successful business. 

Reflect on your values from time to time

We decided to begin with a series in which we explain each of our values. In our latest blog post, we explained the first value: peoplefirst.

Before delving into this initial value, it was vital to emphasize the significance of our company’s values.

Genuinely honoring these values in all actions and leading by example is crucial. It’s the cornerstone of fostering trust in the workplace. Asking employees to uphold these values is ineffective if they’re not integrated into our daily work practices from the outset.

Values aren’t mere PR stunts or superficial brandingtactics plastered randomly on a website. They represent the essence of our company, ingrained in our DNA, and serve as a genuine testament to our purpose and the principles guiding our business operations. Authenticity, truthfulness, and profound meaning define all our values.