#Retail Competency: Managing Organization Vision & Values
According to Globoforce, and their Workforce Moodtracker Report: “88% of workers who understand their company’s core values reported engagement at work”! And “79% of employees say that recognition tied to core values gave them a stronger sense of company goals and objectives”. These are impactful statistics to know and understand for maximizing tools inside the business that elevate engagement, a sense of purpose, and happiness.
Here are the scary statistics: According to TinyPulse: “58% of employees do not know their company’s mission, vision, and values” and “39% of employees say their senior leaders do not act in accordance with the companies guiding principles”. Finally, according to Redii, “68% of employees believe businesses aren’t doing enough to create a sense of purpose.”
Here is the challenge – in most retail organizations someone, at some point, came up with what they believed to be the guiding principles in the business – it probably was accompanied by a training module and a roll-out, marketing for the stores and team members – and then…it was never really discussed again. Occasionally, they are referenced but for the most part these values and the company vision/mission statement are resigned to a laminated poster that resides in the backroom of the store. Hence the reason only 42% of employees are familiar with them or only 32% of employees believe that their company has an Executive Team that is focused on creating purpose…food for thought.
In some cases, corporate policies are not aligned with the company vision or values which negates the impact of one or the other of these company principles.
In retail we are very compliant. We know that new hires have to read and either sign off a sheet of paper stating they have read and received a copy of the employee handbook or click on an electronic box – that is done but time is not allotted for the actual reading, comprehension, or even a review of company policies, procedures, or guiding practices/principles. This needs to change, if we expect to impact workplace culture and drive company growth, team development, and brand loyalty. It needs to change if a company is determined and committed to developing their team members into highly-productive career employees.
Signs that someone is highly skilled in managing their organizations vision and values:
Signs that someone is challenged in this area:
Company Vision and Organizational Values need to be active entities. They need to be referenced frequently. These values should be the backbone of recognition, business communication, and business decisions.
Here are some examples of great Organizational Visions and Values (incidentally, a few of these are “2015 Great Place To Work” winners):
There is a benefit to a transparent, respectful, productive retail organization that builds their brand around a living, breathing set of values. A retail organization that consistently honors their commitments to their employees, as set forth in their Company Vision/Mission Statement, is destined to be more successful than those that do not!
How do you become a champion for this?
-You reintroduce to your team the Organizational Vision and Values
For my business, I had super cute tops, tanks, and tee’s made (through CustomizedGirl) with our core values on them – one value per shirt. When we would have someone acknowledge a co-worker for a particular display of one of the values the recipient of the recognition would get a t-shirt for that value. It gained momentum as many of the team members would want to collect all of the shirts/tops. It was a fun way to recognize our team members that were having an impact on the business and a constant reminder of our business principles.
We are only as strong, authentic, genuine, and effective as our company’s vision and values. These are the day-to-day constants that drive our business and engagement and they are only as powerful as Executive and Senior Leadership allow them to be through their behavior and focus on them. These are the core practices and philosophies of business that will support any retailer in achieving the status of The 10 Happiest Retailers To Work For This Year via Forbes.