How company values improve employment outcomes

Employers told to ensure values are 'off the walls and in the halls'

BY Dexter Tilo 24 Jul 2024

Employers have been warned against reducing their organisational values to "vaguely inspirational words" to improve employment outcomes.

A Reward Gateway report says company values must be put front and centre in decision-making and goal setting.

"Organisational values should not be a dusty list of vaguely inspirational words that no employee can recall," the report reads. "Values need to be 'off the walls and in the halls': relevant and lived out daily in culture, strategy, and tactics."

According to the report, organisational values also need to be updated to match what is important for the workforce and should be shared with all employees and translated into action.

"When your people can tell you what your values are and quote them when setting goals, making decisions, measuring success, or praising others, you know your values are being lived every day throughout your organisation," the report reads.

To embed and integrate values in the organisational framework, the report offered the following principles:

Consistently remind your people of your "North Star," communicating your company's purpose, why it's important, and how they can connect to it
Implement a centralised platform where existing and new employees can access your purpose, mission, and values at all times
Ensure that your purpose and values are baked into key processes, like your onboarding journey, reward and recognition framework, as well as sales strategies
Develop a cultural handbook where values are explained in greater detail and delve into how each department lives in these values

"Providing this clear sense of purpose and embedding values into your everyday will empower your people, boost engagement and enthusiasm, and strengthen your company culture," the report says.

Putting values front and centre is just one way to improve talent attraction, engagement, and productivity. Find out more strategies in this white paper from Reward Gateway.