Strong Core Values Are Essential To Creating Success In Business
Back in the day, business was a lot simpler for owners of small to medium-sized enterprises (SME’s).
Communications were direct, and there was no need to struggle to be heard. Values were at the core of decisions to go into business and at the core of decision-making. They were things that owners and employees shared.
But as life gets busier and the number of employees climbs to double digits and beyond, suddenly, owners are not involved in every transaction. There are just way too many interactions on a daily basis. Besides, they are told they must work ‘on’ the business, not ‘in’ the business, if they are going to succeed.
The question then becomes one of what guides employees when they are called upon to make decisions involving relationships with customers, suppliers, consumers, or colleagues. The answer is the company’s core values.
Core Values Should Evolve…But Their Essence Is Essential To Preserve
We opened our doors at Peel Scrap Metal Recycling Ltd. in July of 1990 so we are now celebrating our 25th year in business.
In consideration of those two and a half decades, we decided a number of months ago that it would be a good time to re-examine our core values and determine if they were well understood by all staff, if they were being applied as appropriate, and even if they were still relevant.
We believe that company values should be the compass that sets the guidelines and direction for every interaction and should be what employees rely on when they are required to make decisions.
To do this, we have held a number of meetings at each of our locations and introduced a series of questions designed to flush out both conceptions and misconceptions that may have worked their way into our landscape. The significance of a healthy corporate culture for the company is improvement in overall performance in areas including employee retention, reputation, productivity, and quality.
On Maintaining A Consistent Positive Customer Experience
For the customer, employee, supplier and consumer, a healthy corporate culture that adheres to solid core values provides a consistent experience regardless of where along the chain the interaction with the company takes place.
That is important because no matter how much is spent on advertising, branding & promotion, at the end of the day, people prefer companies that share their values. So those values need to be worn on our sleeves if folks are to be positively engaged with us.
If you think that core values are soft characteristics of a company, the reality of business for a great many companies clearly suggests otherwise.
An organization’s culture can account for a significant differential in corporate performance between companies and as much as half the difference in operating profits. That is why strong brands have strong core values. A landmark study of this can be found in the book Corporate Culture and Performance by Professors James L. Heskett and John P. Kotter.
At Peel Scrap Metal, we are going to continue along this track until we have fully evolved and breathed new life into our core values. It’s all part of constantly re-assessing how we do things around here and how we can do them better.
That’s just how we roll!
Customer Appreciation Days
If you are in the area, stop by on August 4th or 5th at our Oakville location or on August 11th and 12th at our Mississauga location. We’ll be firing up the grill and have a chance to share some thoughts on this current topic and any others you want to discuss.
2301 Anson Drive,
(North of Derry Rd off Torbram)
1150 South Service Rd W.,
(Between 3rd Line
& 4th Line)
Download Our Updated Mobile App.
If you haven’t done so already, our Peel Scrap App is free to download and available at both the iTunes and Google Play stores. It will keep you current on prices in addition to providing other valuable links and information. (Search Peel Scrap Metal Recycling)