Your company culture will not only determine how people perform, but it will also determine whether people choose to stay at your company or not. According to an article by Five to Nine , 47% of people seeking a new job cite company culture as the main reason for doing so, and according to Forbes , companies with strong cultures saw a 4x increase in revenue growth.
One of the best keys I learned for being an impactful leader as a manager for Wynn hotels was to create a culture of non-negotiable core values. Non-negotiable core values are a set of values within an organization that employees are taught to live by. Those values are the DNA of their company, and great organizations understand how to convey their values and also give examples of how to display those values to their peers and customers. Your company’s values should seep out every job detail and every interaction your employee’s have. Let me give an example of extraordinary core values…
Wynn Hotel’s 4 Core Values Are:
1. Care about everyone and everything.
2. Show never ending attention to detail.
3. Take responsibility. Don’t leave it to others.
4. Be in the moment.
Wynn Hotels are extremely innovative in how they use their core values to enhance their 5 star service. They designed an employee wall of fame, where each employee of the month had a story that explained why they received their designation, but they didn’t stop there…they also mentioned which of the 4 core values their story aligned with. One employee, for example, went out of her way to buy a little girl a stuffed animal when she had lost hers somewhere inside the hotel. When the mother wrote to Wynn property to share her gratitude for the employee’s actions, she mentioned, “it’s obvious at Wynn Hotels that you care about everyone and everything.” Sound familiar? That’s the first non-negotiable core value of Wynn Hotels. Wynn’s culture is one that not only keeps employees longterm, but it’s also one that attracts good talent.
The problem I’ve found with most organizations is that first, their staff isn’t even aware of what their company’s core values are, and second, there aren’t examples for them of how to bring their company’s values to life in their daily work. This is mostly due to their core values being too vague. Integrity is a wonderful core value, but how does someone display integrity in their daily actions? Show up to client meetings on time, let your actions match your words and do what’s right even if it goes against what the client wants. Each of those could be broken down to other examples of how integrity could be used in their daily actions. When my company works with organizations to help enhance their culture, the first thing we do is establish what their core values are. Then we ask them to explain how those values could fit into their daily roles and interactions. Next, we have them ask the staff to contribute ideas on how they could display those core values, and last, we set up an employee wall of fame with stories that match how the staff brought those core values to life.
Values are the foundation to building a great culture and in return…a great company. If you want to promote OCOM: One Culture One Mission, you need to first establish core values that people know how to get on board with.
# organizationalculture #organizationaleffectiveness #organizationalvalues
