Values are so much more than worlds on a wall

Most companies have a set of words that they call values. Words that they have painted on the walls and wheel out at job interviews. Words that in practice don’t mean anything.

True values should be embedded into the DNA of the business. They act as the strategic compass, influence how the business should operate, the culture, hiring policies and how businesses show up.

These words are defined, the meaning behind them clear and objective so that everyone and all decisions can be held to account by them. Values are the guiding light in good times and bad. And there is no better illustration of this than Airbnb.

Covid wiped out 80% of AirBnB’s revenue overnight. Critics predicted that the virus would be the end of the company, that they couldn’t possibly recover.

But by the end of the year, Airbnb hand bounced back and filled its IPO. Its current market value is $86billion.

Having clearly defined values and principles at the heart of the business enabled AirBnB, to react and respond to the crisis. It meant that the founder Brian Chesky had a north star when the hard decisions had to be made, and every single employee within the business knew what was needed of them and how they needed to show up to ride out the storm. So, whilst the business had to pivot, they could do so in a way that did not damage the foundational integrity of the business and were able to make their proposition stronger.

If you need help creating and most importantly ensuring that your values are more than just words on a wall, get in touch.