It’s no secret that tech companies power the world and are accomplishing some of the most innovative discoveries in this day and age. Other companies want to be like them. And most of all, people compete to work for them.
The secret to their success is largely related to their ability to direct their employees towards the businesses key goals. As other industries attempt to emulate these innovative workplaces, there’s an increasing emphasis on being mission or value-driven and company culture. Corporate values, whether explicitly stated or not, play a critical role in an organization’s culture and strategy.
So what makes having corporate values different from not having them?
Strong corporate values align an organization’s culture with its mission and goals. This ultimately improves the likelihood of a company achieving their goals and reaching successful outcomes.
Still not entirely sure? Here’s how it works:
An organization’s culture brings people together and develops the bond of a community. When individuals feel a sense of belonging and understand the direction that the company is headed in, they’re more likely to put their best foot forward and work towards the group effort. When there is a lack of organizational culture or weakly established values, employees are less likely to feel inclined to innovate and collaborate with their peers.
But what does pizza have to do with corporate culture?
Picture this: The Guinness Book of World Records delivered 5,000 large pizzas to your office offering a $1 billion grant to the company that breaks the record for eating the pizzas the fastest. Will you have the leadership and strong organizational spirit to bring everybody together?
Let’s say there are 3,500 people in your company and eight slices on a large pizza. That means everybody would have to eat approximately 11.43 slices of pizza. That’s a lot of pizza! To put away that much pizza, every single person must be united in their dedication to achieving the goal. They must be in it to win it. But that kind of coalescence can only come from having a vibrant culture backed by strong leadership.
Great Places to Work identified 1,000 firms that reveal a strong correlation between financial performance and employees’ belief in their company’s values. Companies with employees that best understand where the organization is headed, how it’s going to get there, and know that everyone is in it together are the most profitable. This means that if a company does not have strong organizational values, they are likely underperforming and diminishing their potential of maximizing profits (or potential pizza prizes).
It’s easy to undermine the values or cultures of our companies and focus on hard money driven outcomes. What makes certain companies so special is their ability to intertwine both their people strategy with their business strategy. Unfortunately, the perceived road to success is not a straight shot. And as your company faces unforeseen obstacles down the road, your people’s ability to consume pizzas in record time is indicative of your people’s ability to work together and persevere through tough times.