The Untold Benefits of Success Built on Core Values

Oct 21, 2020

The Untold Benefits of Success Built on Core Values

Personal values are changing

Recently, employees have started leaving their high-paid, corporate jobs. They are turning over a new leaf and looking for more meaningful work. These employees are unhappy in their current role. They don’t always understand why, but they know something is not right.
Many times, this happens when an employee’s personal core values and a company’s values are misaligned. This leads to unhappiness with and distrust of managers among employees. In fact, only 52% of employees trust the management staff, and this causes frustration for companies across the globe.
Below we’ve outline all you need to know to truly understand and incorporate both the core values of your employees and that of your organisation. And further so, how EonX can deliver the engagement tools necessary to foster a unified team that feel aligned to their core values.

Core Values

Core values are the fundamental beliefs of a person. These guiding principles dictate behaviour and can help people understand the difference between right and wrong. A person’s core values may include religious beliefs, family importance, integrity, honesty, and work-life balance.

Company core values

Company core values are the beliefs, philosophies, and principles that drive your business. These values impact the employee experience you deliver as well as the relationship you develop with your customers, partners, and shareholders. Some of the most common company values are integrity, accountability, respect, teamwork, customer satisfaction, superior quality, and putting employees first.
Employees experience an internal conflict when their personal values clash with company values, resulting in feelings of unease toward the company. Eventually, this internal conflict starts to interfere with the employee’s work life and home life, and the employee looks for a new job that is better aligned with their values.

The benefits of aligning with core values

The discord of personal and company values can lead to a host of problems for both the employee and the employer, but the alignment of the two can bring about amazing results. People who find meaning in their work are generally happier, more productive, more motivated, and tend to stay at their jobs longer. Company core values can also have a direct impact on attracting top talent. Here are some things to consider:
According to Forbes, over 50% of executives say corporate culture influences productivity and creativity, affects profitability and firm value, and impacts growth rates.
Employees (88%) believe business success is grounded in company culture. (Builtin)
Engaged employees are 70% more likely to succeed in their jobs. (Zippia)
Company culture drives 47% of active job hunters to look for new work. (Pivotal Advisors)
Robert Half says 35% of workers look at company culture, and, if it’s not a fit, they will pass on the perfect job.
An SHRM report (Society for Human Resources Management) showed engaged employees were five times less likely than non-engaged employees to have a safety incident and seven times less likely to have a lost-time safety incident.
According to Zippia, disengaged employees cause companies $450 to $550 billion in lost productivity annually.
When an employee’s core values align with the company’s core values, they become more interested in their jobs and their roles within the company. They work harder to make sure customers are satisfied and happy, and employees stick with the company for longer, decreasing money that gets spent on onboarding.
Corporate diverse team colleagues congratulating coworker for being aligned with his core values and the company core values.

A company’s responsibility to employees

Employees have always had a responsibility to their company — a responsibility to show up and perform their best work. Now, companies are starting to realise that they have a responsibility to employees as well. Companies understand that when they provide a core foundation that aligns with their employee’s personal values, employees have an easier time doing their jobs and are much happier.

Personal values

By taking the time to understand and implement employees’ personal values, companies provide a culture that makes it easier for their staff to show up every day, ready to engage to the fullest. But how does a company truly know what values align with their staff?
Companies using a top-down and bottom-up approach have great success at aligning with their employees. They look to their staff to create a personal values list of qualities that are important to them. The C-Suite team creates a list of what is important to the company. Somewhere in the middle, these values match.
Many times, these same employees also understand what the customers are looking for as they are the business’s front liners. By allowing employees to have a say, you are benefiting the company, employees, and customers, and creating the groundwork for smooth business transactions.

Core values list

Companies and employees can come together to create the perfect list of core values that represents what the company stands for, and also what employees value at work.
Some examples that have come out of collaborative efforts are:
- People first - Do the right thing - Quality over quantity - Respect your peers - Pursue continual improvement

Support your company core values

Once your company values are aligned with your employees’ core values, and possibly with that of your customers, they need to be implemented. Employees and customers alike need to be shown that a company stands by what they say. But, this must first start with employees.
One way to do that is through a branded platform that allows the company to connect with employees. EonX’s experienced team can take your company core values and create an ecosystem that is dedicated to fulfilling your company goals. The strategical, full-service agency can assist you in building a branded platform that enriches the employee experience and drives engagement to a new level.
EonX’s Rec Room Platform, is an all-in-one employee engagement, recognition and communication platform that delivers a fully customised solution to promote employee engagement, and alignment with company values and objectives. It allows companies to offer Awards, Rewards and custom Work Perks, to positively reinforce employees that are embodying the company’s core values.
Employees can share their experiences with colleagues both in the office and remotely. Rec Room empowers your employees to support and challenge each other, guiding them to become more resilient with their daily activities. It offers employees a chance to ‘Nominate’ each other for company Awards, and to interact with and provide feedback to each other. The platform gives employees the opportunity to redeem eGift Cards and company points for prizes at the company’s discretion.

Align with your core values at every touch point with EonX

EonX’s experienced team will work with you to dive deep into your company, in order to understand your current workplace and offer advice on how you can better align your company core values with those of your employees.
The team can provide guidance on how best to use the platforms to meet your company’s goals and objectives and promote the desired company culture.
If you’re ready for more information, reach out to us today!

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