How do you make decisions? What makes you conclude if something is right or wrong? How do you solve problems? What do you prioritise?
Your behaviour, decision-making, and problem-solving process are all dictated by core values. Every person has core values; so does every company. In the workplace, core values provide a common language and a sense of unity and help attract talent with similar beliefs and priorities. They also provide direction and, when honoured, push a company towards success.
Core values play a crucial role in the success of individuals and organisations. Here are some of its functions and why they matter:
Core values give a clear sense of direction and purpose. When you know what you stand for and what is important to you, making decisions that align with your goals is more effortless.
A shining example of a company with established core values is Pfizer Malaysia. With the core value of respect, the company implemented cultural awareness training, a Diversity and Inclusion Council, cultural festival celebrations, and flexible work arrangements. As a result, they won the Gold Award for “Best Diversity and Inclusion Strategies” in 2019.
Core values are a compass for behaviour. They establish a framework for how individuals and organisations should act and interact with others. When everyone is clear on the core values, it creates consistency and promotes trust.
Core values help ensure everyone is on the same page. Working together towards a common goal is more manageable when everyone shares the same values. This can lead to greater efficiency and effectiveness.
Core values create accountability for personal and organisational success. When everyone is held accountable for living up to the values, it creates a sense of responsibility and ownership. This can lead to better performance and outcomes.
Core values can attract like-minded individuals to an organisation or individual. When people share the same values, they are more likely to want to work together and support each other. This can lead to a stronger community and a more positive work environment.
An example of this is IBM Malaysia, which has the core value of innovation. They created an internal innovation lab, offered employees training and resources for innovative thinking, and encourage experimentation. Because of this, IBM Malaysia continues to attract top talent in Malaysia — those who value innovation as well.
Core values are fundamental beliefs and principles that guide an individual or an organisation's behaviour and decision-making. They are the deeply held beliefs and attitudes that shape how people see the world, interact with others, and approach various situations. They are the deeply ingrained principles that guide all a company’s actions; they serve as its cultural cornerstones. Core values, such as beliefs and principles, have characteristics. The following are some common characteristics of core values:
Core values are enduring and long-lasting. They will likely stay the same over time, even as circumstances and environments change.
Core values are absolute and foundational, as the basis for an individual or organisation's beliefs, attitudes, and behaviours.
Core values are universal, meaning they apply to everyone regardless of background, culture, or context.
Core values guide behaviour, providing a framework for decision-making and action.
Core values are shared by an organisation or community members. They represent a collective identity and a sense of purpose.
Core values are consistent and congruent with an individual or organisation's actions, policies, and practices. They are not just abstract principles but are reflected in how people behave and interact with others.
Core values are often aspirational, representing ideals to strive for rather than fixed standards. They provide a sense of purpose and motivation for individuals and organisations to pursue their goals and objectives.
Core values differ from beliefs and attitudes. Though they might have common ground or related concepts, they differ in several ways:
Core values are fundamental beliefs and principles that guide your behaviour and decision-making. Beliefs are your convictions or opinions. Attitudes are feelings and emotions towards a particular object or situation.
The core values are more stable and enduring. Beliefs or attitudes may change to new information or experiences over time.
On the source, your culture, history, and experiences often shape core values. Various factors, such as your experiences and exposures, may influence beliefs and attitudes.
Core values are broader and more universal. Beliefs or attitudes may be more specific to a particular issue or context.
Core values impact your behaviour and decision-making. Beliefs and attitudes may have a limited influence.
To establish core values for personal or organisational development, one must identify specific and good core values for oneself or the organisation. Here are some steps to identify core values.
Reflect on individual or corporate accounts, such as significant events, achievements, and challenges. Consider the essential values in these situations and how they influenced decision-making and behaviour.
List possible values that resonate with you or your organisation. This could include honesty, integrity, teamwork, innovation, excellence, responsibility, respect, diversity, and fairness.
Once you have a list of potential values, prioritise them based on their importance to you or your organisation. Identify the top five to seven values most essential and reflective of your identity or purpose.
Evaluate how consistent your actions and behaviours are with your identified values. If there is a gap between what you believe to be essential and how you behave, consider ways to align the two.
Seek feedback from others to ensure that your identified values are consistent with how others perceive you or your organisation. This can help ensure that your values reflect your identity and purpose.
Once you have identified your core values, communicate them to others. This can be done through various means, such as mission statements, company culture, or personal conversations. Make sure that your values are clear and well-understood by others.
As circumstances change, deals may need to be updated or refined to reflect new realities or priorities.
Generally, identifying core values requires reflection, prioritisation, assessment, feedback, communication, and ongoing refinement. It is an iterative process that requires time, effort, and self-awareness.
Aside from steps to identify core values, here are some methods to help uncover your core values, including
Take time to reflect on your personal beliefs, attitudes, and experiences. Ask yourself what is important to you and what values you live by. Think about what makes you feel fulfilled and gives your life meaning and purpose.
Write down your thoughts, feelings, and experiences. This can help you identify patterns and themes in your thinking and behaviour and uncover values that may be important to you.
Identify people whom you admire and respect and consider what values they embody. Reflect on how these values align with your own beliefs and attitudes.
Ask friends, family, or colleagues to provide feedback on your strengths and weaknesses and what values they believe you embody. This can help you gain an outside perspective on your values and how others perceive them.
Several online tools can help you identify your core values, such as the Personal Values Assessment by the Barrett Values Centre or the Values in Action Inventory by the VIA Institute on Character.
Visualise your ideal life or organisation and consider the necessary values to achieve that vision. Use imagery to help bring these values to life and make them more tangible.
Consider working with a coach or mentor who can help uncover your core values. They can provide support, feedback, and accountability as you work towards identifying and living by your values.
Various methods are available to help uncover your core values, and it's crucial to find the one that works best for you. Identifying and living by your values can provide clarity, purpose, and direction in your personal and professional life.
Assessing your core values is important because it allows you to place yourself where you suit or complement. To determine your core values, here are some questions to ask yourself:
These questions can help you reflect on your beliefs, experiences, and priorities and identify your most important values. As you reflect on these questions, try to be honest and open-minded and avoid judging your answers. Remember that your core values are unique and may change as you grow and evolve.
To begin with practical work and personality, you must teach personal core values that would benefit one’s mindset, attitude, behaviour, emotions, intellect, and spiritual states for a compelling character towards work or people. Here are some core values:
Implementing core values in personal and professional settings can help guide decision-making, build trust, and foster a positive culture. Here are some strategies for implementing core values in these settings:
Define the core values important to you or your organisation. Consider what values you want to embody and how they align with your goals.
Once you have defined your core values, communicate them clearly and consistently to others. This can be done through written policies, mission statements, training sessions, or regular reminders.
Leading by example is one of the most effective ways to implement core values. This means consistently demonstrating the behaviours and actions that align with your values and holding yourself accountable when you fall short.
When hiring new employees or working with partners, consider their alignment with your core values, skills, and experience. Hiring people who share your values can help create a more cohesive and positive culture.
Regularly reinforce your core values through recognition and rewards for employees who embody them. Give constructive feedback to those who do not. This can create a sense of accountability and encourage everyone to strive for excellence.
Finally, it's essential to constantly assess the effectiveness of your core values and adjust them as needed. This can involve soliciting employee feedback, monitoring outcomes, and adjusting your approach to align with your goals and values.
Leaders play a crucial role in promoting and modelling core values in organisations. They have to set the tone for the entire organisation; part of their work is to embody and promote core values.
Another thing is that leaders need to communicate their expectations around core values to employees. This can be done through regular communication channels such as staff meetings, newsletters, or social media.
You must align behaviours with core values to achieve success and build a positive culture. When behaviours align with core values, you get clarity and direction for decision-making. You can also make more informed choices based on what is important to you and act consistent with you values.
Both your personal and professional life will prosper when you live by your core values. Doing so provides a sense of clarity and purpose in your life. It can lead you to understand better your strengths, weaknesses, and motivations, helping you make better choices and achieve your goals.
When faced with difficult choices, you can refer to your values and use them as a guide for making choices that align with your beliefs and priorities. They can also help you build more robust and more meaningful relationships. When you share values with others, you can connect deeper and develop stronger bonds based on mutual respect and understanding.
Core values are guiding principles that define the beliefs and behaviours of an organisation. While they are intended to promote positive behaviours and a strong sense of ethics, there are instances where the dark side of core values can manifest.
For example, a company may espouse a core value of "winning at all costs." While this value may encourage employees to work hard and strive for excellence, it can also lead to unethical behaviour, such as cheating or lying, to achieve success. In some cases, this may even result in legal or financial repercussions for the organisation.
Another example is the core value of "putting customers first." While this value may seem positive, it can sometimes lead to negative outcomes, such as employees neglecting their well-being or sacrificing company interests to please customers. This can result in burnout, stress, and decreased employee job satisfaction.
In both examples, the dark side of core values arises when the value is taken to an extreme or used to justify ultimately harmful behaviour. It is important for organisations to monitor their core values and ensure that they are being applied in a way that promotes ethical behaviour and positive outcomes for all stakeholders.
Core values are shaped by personal and cultural experiences, leading to a limited perspective. If too narrowly focused on a specific set of values, you may overlook other vital views or fail to recognise the complexity of certain situations.
While core values can be a powerful tool, it is essential to be aware of the potential dark side of values. Hypocrisy, exclusion, inflexibility, limited perspective, and overemphasis on values can all undermine the benefits of core values and lead to adverse outcomes. So, approach core values with an open and reflective mindset. Recognise potential challenges and limitations.
Core values provide clarity and direction, build trust and credibility, enhance motivation and engagement, foster a positive culture, and help achieve goals. However, it is also essential to be aware of the pitfalls and challenges associated with core values. By approaching core values with an open and reflective mindset, individuals and organisations can reap the benefits of core values while avoiding potential pitfalls.
Identifying and living by your core values is vital for you. Living by your core values can also help you build more robust and meaningful relationships, enhance your self-awareness, and increase your resilience in facing challenges and setbacks.
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