Evaluating Company Values
Core values are integral to the success of any business. They set the tone for the company’s culture, steer its decision-making process, and define its identity in a competitive marketplace. Entrepreneur Alexander Djerassi asserts that regular evaluation of these core values is critical to ensure they are still relevant and beneficial to the organization.
1. Employee Feedback
Djerassi emphasizes the importance of getting employees to provide feedback about their core values. Need for employees to have a say in the core values of the company and to be able to express their interests and concerns. With employee feedback, the company’s management can identify communication gaps and seek to empower employees by giving them tools to act on their core values daily.
2. Customer Feedback
Customer satisfaction and loyalty are critical for the success of any business, especially in today’s competitive industry. Customers should be asked what they think about your company’s core values and how they feel about your products and services. This information will give the company a better understanding of how to improve its products and services.
Businesses can assess their core values by using visioning techniques. This process helps companies to check whether their core values are still up-to-date or outdated and should thus be changed or improved. This process involves creating a list of characteristics important to the company and then ranking them in order of importance. Visioning can also be used to look for gaps between the values the management sets and the actual values employees hold.
4. Core Values Training Efficacy
Examine the impact of any core values training programs implemented by the management. Through this process, businesses can evaluate whether there have been any productivity improvements. Employees must be able to provide feedback on how they feel about these training programs, and they must be ongoing. According to Alexander Djerassi, the core values training program should allow employees to express their concerns and ideas.
5. Core Values Interviews
The interview process can be used for businesses to evaluate their core values. Interviewers can conduct interviews with employees to learn how they feel about the company’s core values. This information can then be used to change or improve the core values and reflect these changes.
6. Leadership Assessment
Asking its leaders for feedback on their core values is one of the best ways for a business to determine its effectiveness and sustainability. Examine how effective leadership development programs are, and ask leaders what they think about the company’s core values. This will assist businesses in determining whether their leadership has improved over time or if they need to change how they run the business to manage their core values better.
Evaluating your company’s core values is crucial to maintain the company’s success. The company’s management must form a plan with clear objectives to assess these core values. This way, the management can keep track of the progress and make necessary changes. The company’s management will also be able to determine whether they have achieved their objectives through the evaluation process.