Whether in construction or any other industry, it is important to have clear company values. Sometimes, those values get pushed to the side, or their importance is underestimated.
However, company values help create shared motivation and goals. Having core values ensures that everyone in the company is on the same page. Construction leadership must take advantage of this fact by familiarizing themselves with the company values and harnessing them.
Values Create Your Identity
Outlining your company values helps create its identity. It lets you outline what is most important for your construction business.
Potential employees pay attention to this identity when choosing where to work, or even where to apply to. Potential clients also look at your identity when deciding whether they should hire you for their construction project.
In a sense, by creating your identity, your values help ensure that you make the right impression on potential employees, clients, and business partners.
Values Drive Your Team
Perhaps the most important reason that your company values matter is the way that they drive your team. For this to happen, however, those values must be part of every decision you make, from hiring to construction projects.
When your values are clearly outlined, it actually makes those decisions easier for leadership to make. If construction management is unsure about which direction to go, they can think of the values. Those values should highlight which course of action works toward the goals and ideals of the company.
Values Create Accountability
Values influence more than major decisions from leadership. They also influence the small decisions that every construction employee makes on a day-to-day basis, as well as the actions they take as a result. This includes things as simple as how much effort to put into work.
In this sense, the values create accountability. Employees are accountable to the values just as much as leadership is. Clients know that the construction company follows those values, giving them more confidence in hiring your firm.
Values Boost Profit and Scalability
There is evidence that strong core values can improve both profit and scalability. One study looked at a 12-year period. It found that brands that have a high sense of purpose increased their value 175% during that time frame. By contrast, the median growth was 86%.
Values-based Recruitment Improves Retention
We already mentioned how your values contribute to your company’s identity, and that is relevant for recruiting. On a related note, recruiting with a values-based strategy can improve employee retention.
This comes from the fact that it is much easier to attract talent with similar values if you are clear about what your values are. That should improve their ability to fit into your team and processes. Even if the talent you attract doesn’t have identical values, they will know where you stand. That translates into clarity of expectations and improved job satisfaction.
Your construction firm’s values help create your identity. They also give every member of your team, from management to the lowest-level employees, guidance on making decisions and accountability. Clearly, defined values can even boost your profits.
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