Company values: definition and importance

Having clear company values is like having a compass for your team. These values aren’t just words on paper; they’re the guiding principles that shape our company’s vision and culture. It’s not just a formality – it’s the heartbeat of our business.

Think about it, a business without core values is like a ship without a captain. How can we build amazing teams, deliver top-notch customer service, and fuel innovation if we haven’t defined and shared what we stand for with our awesome team?

And let’s not forget the hiring game. We’ve all heard about hiring for cultural fit, but to get the right talent on board, we need to shout out loud about the values we hold dear. It’s like building a strong foundation for our business, starting with the culture that reflects who we are.

Our company values are like our DNA, making us stand out from the crowd. They’re not just there for show; they’re the North Star guiding us in every decision, big or small.

You know what’s cool? When we genuinely live and breathe our values, setting the example for the whole crew. It’s the secret sauce to building trust in the workplace. After all, we can’t ask our team to follow these values if we’re not doing the same.

Check this out, every decision our team makes should be in harmony with the values we’ve shared. It’s like our values are the soundtrack of our business journey.

As depicted below, company values contribute to enhanced employee motivation, morale, employee advocacy, and provide guidance and security in the workplace.

Definition of core values

Now, let’s delve into the significance of core values in business:

  1. Establishing Identity: Our values form the foundation of what matters most to our company. They provide a shared purpose that employees understand, work towards, and live by, leading to improved performance and workplace morale.
  2. Guiding Decision-Making: Aligned with our purpose and culture, our values serve as the yardstick for employees when faced with new challenges. This ensures that, even in uncertain times, decisions are in harmony with our organization.
  3. Retention through Values-Based Recruitment: Jobseekers increasingly seek organizations where they can thrive and align with their values. Promoting our values enhances our ability to attract like-minded candidates, promoting longer retention.
  4. Differentiation in the Market: Our values distinguish us from competitors in our field. In a competitive landscape, values that resonate with customers contribute to attraction and retention.
  5. Enhancing Employee Communications: Clear company values facilitate consistent and effective employee communication. This clarity is essential for building a better company culture, improving satisfaction, and increasing engagement.
  6. Attracting Customers with Shared Values: Just as our employees, potential clients care about what our company stands for. When our values align with theirs, it significantly increases the likelihood of choosing us over others.
  7. Facilitating Marketing and Internal Communications: To ensure credibility, our marketing and internal communications teams must thoroughly understand our company values. Clear values make alignment in messages possible, contributing to communication consistency.

In summary, our values are not just words; they are the driving force behind our identity and success.

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ERGO INsurance

ERGO has been among the leading insurance groups in the Baltic States and offers a complete range of coverage including general insurance along with life and health insurance. Over 640,000 customers in the Baltic States trust the services, know-how and financial stability of ERGO Group.
Two companies are consolidated under the ERGO name in Estonia: the general insurance company ERGO Insurance SE and the life insurance company ERGO Life Insurance SE Eesti filiaal.