As an owner-CEO, it can be challenging to articulate and embody the values that drive your business. However, doing so is critical to success. By clarifying your values, you can align your actions and decisions with your company’s mission and vision. This, in turn, can help you achieve your goals and gain a competitive advantage.
Here’s a step-by-step guide to help you uncover and implement your values in your organization:
Step 1: X-Ray Your Vision and Values
The first step is to conduct an in-depth review of your personal vision and values. This can be done through a series of meetings with a consultant or coach, where you’ll examine your past experiences and your overall values framework.
Step 2: Distill Your Values
After your meetings, you’ll want to distill your values down to a concise set of 3-4 core values. Let’s say, for example, that your values are excellence, financial wealth, reliability, and growth.
Step 3: Align Your Values with Your Company’s
Next, you’ll want to align your personal values with those of your company. This may involve tweaking your values slightly to ensure they are a good fit for your business.
Step 4: Establish KPIs for Each Value
For each of your core values, you’ll want to establish a set of Key Performance Indicators (KPIs). These KPIs will help you measure the success of your values in action.
Example: For the value of “excellence”, your KPIs could be:
- Quality of customer feedback
- Employee satisfaction ratings
- Market share growth
Step 5: Set Goals for Each Department
Using the KPIs as a starting point, you’ll want to set goals for each department within your company. Let’s use a professional services firm as an example and take a look at how this could play out in the sales, HR, and customer service departments.
- KPI 1: Quality of customer feedback
- Goal 1: Increase positive customer feedback by 10% within the next 6 months
- Goal 2: Implement a customer satisfaction survey to gather data on customer feedback
- Goal 3: Create an action plan to address any negative feedback and improve customer satisfaction
- KPI 2: Employee satisfaction ratings
- Goal 1: Increase employee satisfaction ratings by 8% within the next year
- Goal 2: Implement an employee engagement program to foster positive workplace relationships
- Goal 3: Regularly conduct anonymous employee surveys to gather feedback on satisfaction levels
Customer Service Department:
- KPI 3: Market share growth
- Goal 1: Increase market share by 5% within the next 2 years
- Goal 2: Develop a customer retention strategy to reduce customer churn
- Goal 3: Regularly monitor and analyze customer feedback to identify areas for improvement
Step 6: Refine Your Communication Strategy
Once your values, KPIs, and goals are in place, it’s time to refine your communication strategy. This includes both internal and external communication. By communicating your values clearly, you can ensure that everyone in your organization is aligned and working towards the same goals.
Step 7: Evaluate Progress Regularly
Finally, it’s important to evaluate your progress regularly. This could be done through regular performance reviews or through the KPIs that you’ve established. By tracking your progress and making adjustments as needed, you can ensure that you are always moving in the right direction.
In conclusion, defining and aligning your organization’s values is crucial in creating a clear direction and focus for your business. As an experienced consultant with 20 years of experience, together with my team we can work with you to clarify your own values, and then use them to create a values framework for your organization. By preparing KPIs, goals and adapting your communication and appraisals to reflect these values, you will not only create a more engaged and productive workforce but also ensure that your organization is aligned in its mission and values. Let’s work together to bring clarity, focus, and success to your business.