It's a great time to be alive in the business world! I see more and more business owners are slowly catching on to the concept and importance of having company values. But most of these leaders are missing the mark on what core values truly are and what they are supposed to achieve in the workplace.

But what truly are core values?

Core values are a set of principles, beliefs or behaviors used as a foundation and guideline for your business. You use them as a guide to make decisions about hiring, firing, rewarding and recognizing employees, and you even sometimes are willing to lose money just to uphold your core values. Again, they are the foundation for your business.

You know when you meet people who say, “I don't ever go on vacation where there is no minyan,” and you know it's non negotiable? It's their principle. They are set and firm on it. They won’t waver. Do you respect these people over people you know will change their mind if it works for them? Which person’s family would you rather have your child marry into? The one with the unwavering principles or the one whose values change according to his mood and situation?

On the topic of choosing life partners, what is it that one looks for in a life partner? What is the true essence that matters in the end and will be what you need to live in harmony? It is your values that will help you determine that answer. It is the behaviors and beliefs that the other person shares with you that will make you feel aligned. If you value living a minimalist lifestyle and the person you meet values money and fame, you will constantly be at odds. If you value helping others while the person you meet values success and smarts, you will never see eye to eye.

The same should be true for your workplace. You should view your company as one big Shabbos table. Who would you love to have around your table? What type of people would make your company a high quality, amazing place at which to spend time?

As a leader, you owe it to your organization to discover and establish your company’s core values. But hanging them on the walls and printing them on mugs isn't enough! You must embody them! You must live them. You must walk the talk, and practice what you preach. If you tell your child how important it is to daven and then he sees you shmooz during davening, how much is the preaching worth? Nothing. Worse than nothing because now your child views you as a hypocrite.

You must realize that being a company leader is very much like being a parent. As a parent myself, I can attest that having a handful of rules that I stick to can help me be way more consistent and successful in enforcing them than having 30 rules that no one remembers.

So how do you enforce your handful of rules, your core values? You hire in line with those core values.

• You get really good at framing interview questions around your core values. Let’s say you have a value of “Raise the bar.” Ask your candidate, “Can you tell me a time when you were handed a project and not only did you complete it on time and in line with expectations, but you also took it to the next level?” Then listen. Listen intently and pay attention to what your candidate is saying. You will hear if their values match up with yours or not.
  The moment companies start hiring based on values and not based on job descriptions is the moment they start winning! I have seen this first hand.
• You let go of people who don't fit those values and stick out like a sore thumb. They are usually the people we call “toxic” in organizations. Or they are the people that you most probably find take up 80% of your frustration time. Because 80% of business problems are usually people problems. It's the employee that is dragging his feet and not living up to expectations because he doesn't appreciate and value what you value! He simply doesn't get it!
• Stop rewarding high performers and start rewarding people who exhibit company values! Most business owners spend way too much time focusing and rewarding high performers. What message are you sending to your employees? It's the bottom line that matters. If you want to create a human side to your business, if you want a culture where people perform because they love the company rather than the competition and negativity that comes from toxic high performers, start rewarding core values! Shout out employees who go above and beyond to exhibit your company’s values! Do you have a value of “help first?” Do you have a customer who needs last minute assistance? Did your employee step in? Recognize them for it! Send a company-wide email! Let them know you saw, care and it matters!
  What we appreciate, appreciates!
• When your core values are done right and are the breathing life of your company, they become your marketing tool! Everyone wants to deal with the company that goes above and beyond. You can be selling the same product as your competitor, but it is how you make your client feel that counts. In order for your clients to consistently have the same experience all the time, no matter who they get in contact with in your company, your employees must all understand and value the same things!
• Sometimes you might even lose money to uphold a core value. It is the strongest marketing message you can send internally and externally. I know a business owner who made the decision to let go of a high performing sales person who was toxic and not a values match. It meant taking a big cut in sales, but this owner understood that creating a cohesive, open, honest culture will create a foundation where he can hire three new amazing salespeople who will work together to achieve much more.

My hope is that sharing this with you will inspire you to discover your core values and this will create better company cultures. Your purpose as a business owner should be to create a place where people will want to come to work each day and be engaged in their job. It is a win for everyone. Everyone wants to feel fulfilled and like they belong! You have the power to make that difference in your employees' lives.

Next month I will discuss how you discover and create your company’s values.