Running payroll is arguably one of the trickiest parts of being an employer. According to Statista, there was an average of 128.57 million full-time employees around the U.S. in 2018. Now, imagine…continue reading
50+ Sample Core Value Statements
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What Is a Core Value Statement?
50% of executives believe that a positive corporate culture is an important aspect of running an organization (source: bonfyreapp). If you want to define and describe the heart of your organization, then we suggest you to come up with your own core value statement. A core value statement is composed of your business’ core values. It represents what you believe in, what you prioritize, and what you truly value. Core value statements are commonly associated with the culture, ethics, character, and attitude of corporate entities. Simple core value statements usually contain about five core values. However, it will depend on your organization on how many core values there will be in the core value statement that you will use.
Things to Consider When Crafting a Core Value Statement
What are the philosophies that matter the most in your organization? This is one of the first questions that you should ask your team whenever you are immersed in the processes of developing a core value statement. Aside from this, here are more things that you have to consider as you craft a core value statement from scratch:
1. The Things That Matter for Your Organization
Your core value is a reflection of your company and the items that it considers valuable. It allows you to fully-support your corporate vision while ensuring that you are shaping a work culture and an environment where your key beliefs are being championed. Hence, it is important for you to select core values that your business gives importance towards. Know the key points that matter to your organization so you can create a core value statement that can reflect these.
2. The Culture of Your Company
You have to define what your company is. Your core value statement should be aligned with your mission statement and vision statement so you can make sure that these statements can lead to the direction of where you would like your business to be while looking into the steps that you must take and the philosophy that you have to consider as you go along the way.
3. The Alignment of Your Core Values With Your Operations
How does your company conduct itself? Know how you can explain what your core value stands for and how it is inculcated in your business operations. You have to align your core value statement with the daily activities of your business. If you can successfully do this; you can present your organization in a manner that is accurate, believable, credible, and timely.
4. The Corporate Character That Your Stakeholders Can Expect From You
A core value statement is not just an additional item or material for your organization. It actually is an important statement that can build your image and can support the steps that you will take to realize your mission. Hence, a core value statement should enable you to connect with your stakeholders accordingly. You have to let them know what they can expect if they will interact with any members of your organization. Since the specific statement should be built in the culture of the workplace, it is imperative for you to set the proper expectations that your stakeholders will have if they decide to work or transact with you.
7 Steps for Writing an Excellent Core Value Statement
You have to know the central beliefs that your organization use to guide its plans of action. These beliefs can help you shape the core value statement that you would like to be associated with your brand or image. If you already want to make a core value statement, here are seven steps that you can follow and execute:
Step 1: Use a Pre-Formatted Core Value Statement Sample and/or Template to Serve as Your Statement Development Guide/s
Even if a core value statement is easy to develop, it will still be an advantage if you can get a number of references that you can optimize any time. Use templates and existing core value statement samples so you can have a better idea on how you can craft your own core value statement. Get inspiration from different statement development guides so you can potentially have the best core value statement for your business.
Step 2: Set a Meeting With Involved Stakeholders
You have to properly brainstorm with your team if you want to have a quality core value statement that can truly represent and reflect your organization. Gather the entities whose insights are important when building the core of the business and its operations. Make sure to be open to suggestions so you can have a multi-faceted view of the values that should truly be included in your core value statement.
Step 3: Know the Kinds of Values That Are in the Core of Your Corporate Operations, Relationships, and Interactions
As you meet with your stakeholders, you first need to know the things that are truly important for your organization. List all of these items so you can select the ones that truly are a part of your culture and identity. Again, be open to comments and suggestions. List as much values as you can so you can thoroughly review these before you draw your conclusions.
Step 4: Define and Describe Your Core Values
Once you have already pointed out the values that matter the most to your organization, start defining each of them. Describe your core values so you can have an idea on how you can develop a great statement presenting these to your target audience. Know how a given core value affects your operations and how it can define the things that you find valuable to your business and its stakeholders.
Step 5: Ensure the Accuracy of Your Core Value Choices
Rank each element of the core values that you have finalized. Be open to the idea that your core value statement can be changed so that you can focus on what is currently aligned and relevant to your organization. Review the list of core values that you will include in the specific statement so you can double-check on whether you have made the right decision or if there are still modifications that you need to execute.
Step 6: Develop Your Statement
After all of your core values are in place, know how you can verbalize your core value statement. Select your words and language. More so, be particular with the tone and mood that you will associate in your statement. Make sure that your final core value statement is business-appropriate, understandable, and well-developed.
Step 7: Ensure the Alignment of your Core Value Statement With Your Mission Statement
Align the core value statement that you have written with your mission statement. If you can see the connection between the two and you are already satisfied with the words that you have put together mindfully to create your core value statement, then allocate the time to look for items that still needs to be refined before you finally use the core value statement officially and formally.
Advantages of Having a Great Core Value Statement
You do not really need a core value statement to keep your operations going. There are a lot of businesses that do not have a core value statement but can still function as a corporate unit or entity. However, a core value statement is essential if you would like to have a culture that your organization will be known for. Always keep in mind that a core value statement can help you be reminded of who you are as a business. With this, you will not just focus on the demands of your stakeholders and the supplies that you have at hand. Further, you can think of and focus on the attitude of your company as well as the ways on how it can impact the relationship that you have with your stakeholders. The advantages of having a great core value statement include the following:
Dos and Don’ts for Developing an Effective Core Value Statement
Are you planning to create a core value statement? If you think that the step-by-step process listed and discussed above is still not enough as a reference, then you have to review some guidelines which can be very useful when it comes to refining the core value statement that you will have as an output. Here are some of the tips that can help you have an effective core value statement:
1. Do Make Your Core Value Statement Inspiring But Still Realistic
Let your core value statement inspire your workforce and other stakeholders. However, your core value statement should not come off as idealistic. Present the core values that are realistically incorporated in the “DNA” of your company. Make sure that you can showcase these core values in your transactions so that your core value statement can be believable.
2. Do Ensure That your Core Value Statement is Concise
You have to make sure that your stakeholders can understand and relate to your core value statement. There is no need for you to make the core value statement highly-technical. As much as possible, do not use any industry jargon that any of your target audience may not be familiar with. Make your core value statement concise and specific so it will be easier for you to present the concept that you have in mind to the people that are involved with your daily business operations.
3. Do Align your Core Value Statement With Your Corporate Philosophies and Beliefs
Have a core value statement that is truly your own. This specific statement should be original and must encapsulate your brand as an organization. Keep in mind that the core values that you will set for your organization can impact the actions that you will execute in the future. These core values can also make it easier for the management to unite its workforce in achieving common goals. With the help of an effective core value statement, you can successfully define who your organization is and what it is made up for. Hence, it is essential for you to develop a suitable core value statement as it can enable you to have a unique brand.
1. Don’t Use Too Many-Core Values
Your core value statement should be composed of at least three to ten core values. Do not list too many core values as this can only make your statement hard to remember. Narrow down the number of core values that you truly believe in based on their alignment with your operations and beliefs. It is essential for you to have a brief core value statement which is why you have to consider the number of core values that you will include in it. However, you also have to always remember that it is not just a single principle that guides your organization when it comes to decision making. It is not only one core value that drives you to achieve your aspirations. Hence, do not hesitate to have a number of core values as long as you can sum up or scope the key beliefs for the statement that you are developing.
2. Don’t Use a Poorly-Developed Core Value Statement
Do not create a core value statement just for the sake of having one. If it will require you to have a number of meetings with your stakeholders, then do so. It will be better for you to conceptualize your entire core value statement and take a long time before you can finalize it rather than try to develop one as fast as you could but fail to incorporate the essence of your organization’s culture in the statement that you will come up with.
3. Don’t Copy the Core Value Statements of Other Businesses
Though there is nothing wrong with getting inspiration from other core value statements, you have to make a core value statement that is uniquely yours. Make sure that your final statement can give an idea about what your organization believes in. Having a clear representation of your core value through your core value statement can enable you to relay your company’s beliefs and philosophy in a way that is identified as original and is truly aligned with your brand.
Have you already decided to create your core value statement? We hope that you can take the time to download the printable samples and templates which you can all browse through in the discussion above. Use any of our listed references so you can efficiently come up with the best core value statement for your organization.