More than just words, a business’s core values need to be a demonstration of their vision, culture and principals. If your business doesn’t already have core values, now is the time to change that says New Zealand’s premier accounting professionals Tauranga-based Tutbury & Associates Limited.
At its base, core values are simply ideas that guide organisations on how to make decisions.
“Core Values cannot be copied and pasted from another source into your business. They need to be created and developed from within your business, so they are truly authentic to your company and employees,” advises Kelly Tutbury, Accountant and Managing Director at Tauranga-based Tutbury & Associates Limited.
When deciding on your core values consider what values you would like to be the guide on how to act in your work environment. These values can help people understand the difference between right and wrong.
For potential clients, core values paint a picture of a company’s character. For employees they help to shape a business, keep staff responsible and a positive company culture.
“Core values are vital because it provides guidance and direction,” says Kelly. Without core values in place, you are setting up your employees to be confused about how to make decisions and how to treat others, this can make employees less productive. Management can be is less unified and communicative, making it difficult for your team to work together to get jobs done.
According to Forbes, more than 50% of CEOs and CFOs say corporate culture influences productivity, creativity, profitability, firm value and growth rates.
“Core values and business plans go hand in hand. A business plan gives a mapped-out path and the steps it needs to take to reach its goals. Core values are what determine how these goals are reached,” adds Kelly.
To define what your core values are, you’ll need to reflect upon what is important to you and your team as a business. Here are some common core values to get the ball rolling:
About Tutbury & Associates Limited:
Tutbury & Associates Limited has worked hard to build their reputation for excellent customer service by working interactively with their clients and making sure that their clients get value for money. They are ideal for tradespeople, or anyone who wants to grow their business.
Contact Tutbury & Associates Limited:
Phone: 07 576 2194
Address: 23 Myres Street Tauranga