How Can Company Values Align With Business Practices for Success?
We've gathered insights from ten CEOs and business founders to explore how company values can be a powerful driver of success when they're woven into business practices. Starting with the strategic partnership with B Corps to the fostering of work-life balance, these leaders recount instances where value-based decisions have significantly propelled their companies forward.
- Partnering with B Corps for Mutual Success
- Purposeful Tech Elevates Client and Staff Success
- Leadership Shift Realigns with Core Values
- Compassion with Accountability Boosts Client Impact
- Sustainability Aligns with Growth and Reputation
- Actionable Values Differentiate and Drive Growth
- Ethical Choices Enhance Long-Term Reputation
- Integrity and Promptness Transform Organizational Success
- Sustainable Practices Distinguish Solar Energy Client
- Work-Life Balance Spurs Company Success
Partnering with B Corps for Mutual Success
As a true believer in 'Business as a Force for Good,' working with B Corp business partners has led to mutual success several times in my copywriting business. Partnering with companies that share a commitment to social and environmental responsibility—like Fireclay Tile, CoPeace, and Koa + Roy—deepens trust with their communities through copywriting that resonates. By aligning with B Corps, I've been able to deliver work that not only meets business objectives but also contributes to the greater good. This proves that purpose and profit are not mutually exclusive; ethical practices and profitability go hand-in-hand.
Purposeful Tech Elevates Client and Staff Success
I run a marketing agency. While we've always worked with B2B tech, over the last few years we've gone all-in to target what we call 'purposeful technology businesses', such as those operating in healthtech, environmental tech, or education. Why? Because we value health and wellbeing, caring for the planet, and lifelong learning. When we certified as a B Corp, we knew that lifting up other businesses that bring positive change to the world was part of our mission to be a 'business that is a force for good.'
Historically, our client mix of businesses that work in these areas was about 10 percent. In the last year, 40 percent of our clients are in this category, and we're seeing real results both in terms of great working relationships and employee engagement. When our values align, our successes are elevated.
Leadership Shift Realigns with Core Values
Last year, we realized that part of our standard operating protocols was drifting off course, and we had to drill down to why. Our core values are to always take care of the customer, and as rudimentary as that may seem, it's not something that always happens in digital marketing, unfortunately. We eventually figured out that we had to make an adjustment in leadership. We are firm believers that there really are no bad people, just bad leaders. Once we replaced them, we were able to realign with our core values. The difference has been tremendous for our client base and overall company culture.
Compassion with Accountability Boosts Client Impact
It is essential that organizations know their North Star, with efforts and resources all pointed toward achieving it. As CEO of Life After Hate, the nation's leading violence intervention organization, we adopted the mantra of compassion with accountability. This mantra was then applied to our clients, our staff, our supporters, and our partners. All had to take responsibility for their past actions. And all were worthy of compassion if they were serious about changing behaviors. By placing our clients first and showing them the respect they needed to successfully reintegrate into civil society, we led with our values and saw client numbers, interaction numbers, and impact dramatically increase as a result.
Sustainability Aligns with Growth and Reputation
One instance that comes to mind is when we decided to prioritize sustainability in our operations at Venture Smarter. We've always valued environmental responsibility, but we realized that aligning our business practices with this value could lead to tangible success. So, we implemented various eco-friendly initiatives throughout our organization, from using renewable energy sources to reducing waste in our offices.
This decision not only resonated with our employees, who felt proud to be part of a company that cares about the planet, but it also attracted like-minded partners and clients. Companies and organizations that shared our values were more inclined to collaborate with us because they saw us as allies in creating a better, more sustainable future.
Moreover, our commitment to sustainability enhanced our brand reputation and credibility in the market. Customers were increasingly drawn to us because they recognized our dedication to making a positive impact beyond just profits. So, aligning our company values with our business practices didn't just feel good; it also contributed to our overall success and growth as a company.
Actionable Values Differentiate and Drive Growth
Forget the posters—values need action. In today's market, companies that walk the talk outperform those with empty slogans. Aligning company values with business practices isn't just feel-good—it's a strategic weapon for differentiation and growth.
Company values are a compass. They direct investments and attention. When translated into action, they become a powerful force.
Imagine a company valuing sustainability. They might invest in eco-friendly materials, ethical sourcing, and energy-efficient products. These practices resonate with environmentally conscious consumers, solidifying their market position.
A commitment to fair labor practices may translate into higher production costs initially. However, it attracts and retains skilled workers, leading to higher-quality products that justify premium pricing. Values can empower price control.
Companies prioritizing customer satisfaction might invest in robust customer service. This could involve readily available support channels and personalized experiences. These practices foster deeper relationships and loyalty, leading to higher client engagement.
The gap between values and practices is a recipe for disaster. A company might preach innovation but stifle creativity with rigid processes. This disharmony creates a sense of hypocrisy and disengagement.
Employees see the charade. Morale, productivity, and ultimately, customer satisfaction plummet. Consumers are value-driven. A company's inauthenticity is easily exposed, leading to reputational damage and lost market share.
Aligning values with practices creates a virtuous cycle. Values guide investments and practices, creating a competitive advantage. This translates into higher employee engagement, increased customer loyalty, and ultimately, sustainable growth.
The Bottom Line: Aligned values are a powerful tool. Companies that translate values into action can navigate the market with a clear purpose and direction. This authenticity resonates with all stakeholders, propelling the company towards long-term success.
Ethical Choices Enhance Long-Term Reputation
As a recruiter, I'm sometimes offered contracts with companies whose ethics I find questionable. With money on the line, it can be hard to say no.
But over the years, I've discovered that turning down work that doesn't align with my values actually drives up my reputation and increases my success in the long term.
I had a client recently name this as a reason they chose my firm. I barely recalled the company in question; it had happened so long ago. But they remembered me turning down work during a tough economic spell, and that influenced their decision to choose me now. According to them, a firm willing to leave money on the table over ethics was admirable and likely to be trustworthy overall.
Integrity and Promptness Transform Organizational Success
I was working with an international bank on their strategy. We had developed a set of core values, and one of them was “integrity,” defined as, “we do what we say we will do.” But as we worked, it seemed like every meeting started late. Members of the leadership team seemed reticent to talk about it, despite their obvious annoyance as they waited for each meeting to start. Finally, one of the VPs opened up.
The CEO was the source of the problem. He was always the last one to every meeting—usually over 25 minutes late. I raised the issue with him and the team. He started out defensively, saying that another core value was to have an “open-door policy” and that his commitment to that was the source of his lateness. But as we discussed it, he slowly realized the cost of this practice. Every meeting was prolonged. His leadership team was demoralized and felt disrespected.
He ultimately empowered his executive assistant to manage him so that he would not be late. She would turn away people and schedule them for later times when he needed to attend a meeting within 30 minutes.
It seems trivial, but the simple change in his promptness transformed the entire organization and the pace of strategic change. There was suddenly alacrity and urgency. Meetings got started on time and went fast, ending promptly. And while the CEO remained committed to having an open-door policy, he simply empowered his support team to ensure that ad hoc requests for him were managed responsibly. Both core values remain strong guides to company behavior and have been part of its massive success.
Sustainable Practices Distinguish Solar Energy Client
Aligning company values with business practices isn't just about branding—it's about creating a sustainable and cohesive company culture that drives all business decisions. A vivid example of this in action came from our work with a client in the renewable energy sector.
This client, a burgeoning solar energy company, initially struggled to differentiate itself in a highly competitive market. They had a strong commitment to sustainability, not only in their products but also in their operations, which was a core company value. However, this commitment was not prominently reflected in their business practices or communicated effectively to their target audience.
Recognizing the opportunity, we helped them realign their business model to fully embody these values. This included revamping their supply chain to ensure all components were sourced sustainably, implementing eco-friendly practices in their offices and manufacturing processes, and launching a customer outreach program that educated consumers on the environmental impacts of their purchases.
These changes were communicated through a targeted marketing campaign that highlighted their unique commitment to sustainability compared to competitors.
Work-Life Balance Spurs Company Success
As an entrepreneur, aligning company values with business practices has consistently led to success, notably in a situation where we prioritized employee well-being and work-life balance. By fostering a culture that valued work-life balance and prioritized employee health and happiness, we saw increased productivity, reduced turnover, and higher employee satisfaction levels.
Our commitment to these values translated into tangible benefits such as improved employee morale, enhanced teamwork, and greater creativity and innovation within the company. Moreover, it helped us attract and retain top talent, as individuals were drawn to a workplace that aligned with their personal values. Ultimately, this alignment between our company values and business practices not only contributed to our employees' overall well-being but also to our company's success and growth in the long run.
