Establishing core values can be tricky for businesses both young and old — especially when trying to ensure those values are neither generic nor unrelatable. In fact, many companies will update their core values as the business matures, adapts and changes.
We reached out to three Austin companies to learn more about how and why they built up the values they did, and how they make sure their team lives by them.
Despite being founded in 1990, TicketCity recently decided to update the team's core values. A group of employees from various departments, including management, content, PR and HR, collaborated on building the new values, identifying and amplifying what's most important to the team as they work with each other and with customers. Caitlin Sullivan, who works on employee engagement and culture at TicketCity, was a part of those conversations and filled us in on the details.
What are TicketCity's company values?
Empower ourselves, provide reliable service, be industry experts, deliver great products, quickly adapt to change, be forward thinking, support each other and have fun!
How'd y'all come up with these eight?
We wanted values that support the vision, shape and culture of the company. These principles and beliefs have been built within these walls for almost 30 years and what guide us in building relationships with our clients and educating potential customers about the true value of our company.
The process really allowed us to take a look at where we have come from and where we want to go. It has empowered us to clarify who we are as a whole, and as individuals.
How does your company ensure your team is following these values?
In addition to every employee having a copy of our mission and core values on their desk, we also reward trophies to the people that embrace each value most.These awards are representative of each specific value and voted by their peers in the office. Our core values apply to the top (C-level), bottom (entry level) and everywhere in-between.
With our new goals, we are going to create an entryway display that defines and reminds each employee of our values – it will allow every one of us to start and end our day with the motivation that comes from them, propelling TicketCity forward.
What advice do you have for your young companies trying to identify theirs?
Young companies need to determine their mission, what they want their company culture to look like and how they think they can achieve it. The most important thing is after defining your values, you must strengthen them by inspiring your workforce to embody them persistently. When this happens, everything from your bottom line to employee happiness to customer satisfaction is enhanced.
The B2B digital marketing company Somnio developed a core values "forensics team" to develop their company values. The team included CEO Harold Valderas, talent manager Raquel Chandler and senior director of sales and marketing Steve Meier. Chandler stressed how important it is to analyze both company wins and past mistakes to form core values.
What are Somnio's core values?
We aim to delight, we are intelligence-driven, we are fearless, we chart our own course, we keep it real, and we love doing great work.
Could you describe the process to create these six?
This process started out as a need I had from a recruiting perspective: “Why will people want to come to work for us besides salary and perks?” Following a discussion with my CEO and senior director of sales and marketing, we launched a project for our 2016 summer interns focused on uncovering our weaknesses and strengths in our social media presence.
What they didn’t realize was their internship project was a big part of our research for uncovering what Somnio’s deep values are. Our “Core Values Forensics Team” dissected their research and collaborated on key elements of “What Makes Us Somnio.” Once we had an idea of how we wanted to present these bold statements, we got our executive team focus group involved and eventually finalized what are now Somnio’s six core values.
What advice do you have for other companies trying to identify theirs?
Try not to get too fancy or extravagant with your core values. Core values are just that…something you feel in your core, in your gut. Really analyze what qualities and aspects your people/team represent, think about how you want new employees, customers and competitors to view you, and at the end of the day, use language that identifies with your own company culture. Don’t get bogged down in trying to “impress.”
We like to keep it real, and that’s the best advice we could give others when thinking about defining their core values.
Banker's Toolbox has a team mascot: the penguin. They chose the penguin because of how the animals huddle together and survive with the warmth and protection provided by the group during dangerous Arctic winters. This team mentality and group effort is how the company aims to work every day. Director of HR Ashley Crill and CEO Wayne Roberts filled us in on their penguin-inspired values.
What are Banker's Toolbox's core values?
Our three core values shape our company’s mission and unique Penguin culture. They are: Delighting Our Customers, Pursuit of Excellence and Happiness for Employees.
How do you promote these values?
We strive to identify employees’ professional strengths and help them grow in their career. This core value led to the creation of the Penguin Experience to align our business strategies with our people (excuse me, I mean Penguin) strategies. As a company, we not only care about the development and growth of our Penguins but about finding the right fit, the right talent, the right environment to foster a culture of high performers, highly engaged Penguins.
How'd your team come up with them?
A variety of Penguins (veterans, rookies, and Penguins across all different departments) participated in focus groups and after many thoughtful discussions on what it means to be a Penguin, the Penguin Experience was born! Our belief is that by engaging our employees on what it means to work here and providing an environment that fosters the feeling that they are valued, we are living our core values as a company.
What advice would you offer other companies looking to establish their own?
Find your focal point, your values and mission, and let this compass be your guide. Take the time to define these core values, involve others by focus groups. Be intentional in defining your core values. Spend the time and energy. Involve the people that are going to own the company’s core values. Embed the values in everything that you do as a company.
Further, ask key questions about where you want to be as a company and what kind of company would you want to work for. How do you want to inspire others to live the core values? What type of people do you want to employ? Once employed, make sure employees feel like they matter, show that time was taken in developing perks, benefits, and the work environment. Go beyond the bland value statements and empty statements. Inspire!
Image provided by companies and social media. Responses have been edited for clarity and length.
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