October 21, 2020, 0 Comments
Why It’s Important to Promote Company Values in a Downturn
A person’s character is shown through the choices they make under pressure. The stronger the pressure, the deeper the revelation about the person’s essential nature. The same is true of companies and their values. Well-defined core values are embedded in a company’s culture and shown in day-to-day actions. How employees behave affects how business is conducted and people are treated. Therefore, company values need to be adhered to when the economy is down, and everyone is stressed. During a downturn, it is especially important to demonstrate core values at all times. Don’t underestimate the power and perception of core values in your organization.
Here are four reasons why you should demonstrate company values during a recession.
Displaying company values during a crisis protects your staff. Promoting your team’s physical and psychological safety includes open communication. Everyone needs opportunities to provide thoughts, ideas, and feedback on issues they’re concerned about. This builds cohesion and trust among teammates. Being able to share their concerns frees up space for creativity, engagement, and inspired thinking that leads to better work performance.
Set the Standard
Exhibiting company values when experiencing a downturn, sets the standard for appropriate behavior. During a time of crisis, everyone needs to work together to demonstrate compassion for coworkers and customers. How you behave during a crisis says a lot about the character of your organization. The actions shown by your company create images of the business that affect how others view it. Make favorable impressions for everyone.
Using company values to make business decisions impacts your organization long-term. Speak as frankly as possible with employees about company performance and plans to decrease costs. Discuss available options, even if they’re unfavorable. The actions you take now will impact business results in the following weeks, months, and years and employees will appreciate as much transparency as possible.
Sticking with your company’s core values when the economy is down, shows you built a long-lasting culture. Adhering to what matters most to your organization assures your employees, customers, investors, and partners that you’re driven by more than opportunities. This demonstration of authenticity promotes trust. Employees are more likely to remain loyal when they see your words are backed with actions. This makes your organization even stronger and more unified than before.
Demonstrate Company Values
Demonstrating company values, especially during an economic crisis, shows the character of your company. How you, your team, and coworkers behave, paints a picture in others’ minds that lasts indefinitely. Adhering to company values means creating favorable images that result in loyal employees and customers who help the organization weather the storm. Your company comes out stronger as a result.
If you need additional HR staff to help your organization through a downturn, get in touch with Arlington Resources. We provide experienced talent ready to fill your business needs. Learn more about our services today.