Values define how the company behaves, shaping the culture and guiding internal and external interactions. They serve as principles for decision-making, hiring, and leadership, ensuring that the organization operates consistently and with integrity.
Common values include customer-centricity, innovation, transparency, collaboration, and accountability. These values influence how teams work together, how products are developed, and how the company engages with customers and partners. Clear values drive a strong, cohesive culture that supports long-term success. This includes current behavioral norms – that have been present for some time – as well as one or two aspirational values.
Values are the core ways we expect people at the company to behave that are materially different from what we see in other companies in the market. We generally don’t list in the list of Values what are called “Permission to Play” values. Permission to play values are those that we expect anyone in any business to exhibit. They are the minimum traits you must have to work effectively anywhere – not just at our company. We don’t view these traits as unique to our company. We consider them to be basic things that any human being should expect in any workplace. There’s nothing “special” about them – they’re basic requirements for all businesses. Common examples of permission to play values:
- Honesty. The people you work with should be honest and trustworthy.
- Respectful. The people you work with should show appropriate respect and regard for their coworkers.
- No Assholes. Your workplace should be free of people that are mean or seek to belittle others.
- Competence. People should be competent in their jobs and effective at what they do.
- Integrity. People should be consistent in their words and actions – inside and outside the office environment.
- Flexibility. People should be flexible in how they work. Different people have different styles and personalities. Flexibility first means the ability to listen to different people and viewpoints and adapt accordingly. Flexibility also means being flexible in the mechanics and mediums we use for that work. Just because we’ve always done something in a certain fashion doesn’t mean that’s necessarily the best way for us to do that work. If the way we do something stops making sense, call it and let’s change the way we do the work.
- Resiliency. Things don’t always go to plan. They don’t always conform to a process diagram. People should be able to handle situations that don’t fall into our standard box or flow chart without creating a crisis.
- Coachability. People should be receptive to feedback and have the ability to act on it. None of us came into this world fully and perfectly formed. We’re all works in progress – you’ve got to be open to the feedback and a different perspective
Values Development Process
- Discover: Identify the values that already exist in the organization when it is performing at its best. One way to do this is think about (or imagine) what a top performing person in the organization looks like and list the traits they have. Another approach is to think about decisions you’re proud of people making and think about what drove those.
- Define: Write clear definitions or short phrases for each value to illustrate what they mean in action. Avoid generic “corporate speak” – use language that is natural to the team so values stick in daily conversation.
- Refine: Fewer values that are compelling is the best. Ideally you’ve got three that are really unique to the company and concisely defined. When you’ve got more than that people won’t be able to apply them.
- Integrate: Integrate the core values into company processes: use them in recruiting interviews, performance evaluations, and recognition programs. Teach managers to use values as a “veto tool” (e.g. do not hire a talented candidate who fails on core values). Keep the values alive through storytelling and by spotlighting employees who embody them.