Execute For GrowthA handful of rules that remain constant over time.
Your Core Values already exist; they don’t need to be invented but discovered.
There are going to be many things that you will value in the company, but only a handful of Core Values.
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This is an exercise of discovering what they are, not deciding what they should be.
© 2012-2016 Rhythm Systems, Inc.
They should describe your Culture & drive your Behavior
You should be able to get an idea of the personality of the company by studying the Core Values.
Your Core Values should help you make decisions.
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Prospective hires should be able to get an idea of what it’s like to work here by discussing your core values with you.
© 2012-2016 Rhythm Systems, Inc.
Their Story
Had to fire almost half their managers.
Focused on developing their core values.
Used the new values in hiring new employees (and in firing employees that were not living them)
Today they have only 7% staff attrition in a high turnover industry.
Example
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Nurse Next Door Example:
Background
Ken and John (Founders) realized that the business they created had become a place they did not want to work.
They fired 10 of 26 managers... even without knowing what their core values were.. they just knew they were the wrong people for the company.
They set the goal of being a top 10 place to work in BC Canada within 3 years
Solution
They developed core values – identified the shared values of the people in the company who represent everything good and right about the company. Also identified the values missing in the people that they let go.
They boiled it down to 4 CORE Values- that they would live and die by.
Values in Action:
They had an employee who was doing a fine job, but not living the “Find a Better Way” value.
They identified and addressed the issue with the employee, but after working with her for some time,
Eventually fired her when there was no improvement in this one area.
Improved as a leader in the eyes of the rest of the people in the company.
Today they have over 1000 employees – and only a 7% staff attrition rate - in a high turnover industry
They are driven by core values and purpose.
© 2012-2016 Rhythm Systems, Inc.
Used its Core Values to create a competitive advantage
Their desire was to create the best customer service experience for their customers.
They believed that if they hired the right people and wowed their employees, their employees would in turn wow their customers.
Even high performers who do not live the core values are let go.
Their Core Values
Be Adventurous, Creative & Open-Minded
Do More with Less
Zappos Example
Zappos used its Core Values to create a competitive advantage in the business. Their desire was to create the best customer service experience for their customers. To achieve this, they believed that if they hired the right people and wowed their employees, their employees would in turn wow their customers.
© 2012-2016 Rhythm Systems, Inc.
NOTE TO FACILITATOR: This is an educational slide.