Your brand identity isn’t complete without core values, and your work culture may be muddled as well. When you know your company’s core values, employees can stay focused on the brand while working on various projects. Plus, employees who feel they’re serving a purpose at work are more likely to stay in their current jobs rather than seek employment elsewhere.
A 2016 survey by Imperative found that 73% of people who are purpose-oriented are also satisfied in their jobs. The report also says, “A purpose-oriented professional prioritizes work that matters to them, their company, and the world – over money or advancement.” For their research, purpose-oriented employees were defined as “people who see work as about personal fulfillment and helping other people,” which is in contrast to people who think of work as a means to income or status.
There’s more good news: even though purpose-oriented employees care less about income than they do about personal fulfillment, your bottom line can still increase. The survey also found that 58% of companies with a clear and understood purpose grew by over 10 percent. Furthermore, 42% of companies that were not purpose-driven dropped in revenue.
The takeaway is that defining your core values and making them part of your workplace culture can improve everything, from employee satisfaction and retention to your profit margin. Here’s how to hone in on the values your company stands for.