A company’s values are more than just words on a page

Professional services can reap the benefits of embodying meaningful values.

In today’s competitive landscape, business values are more than just words on a page; they shape company culture, drive operational integrity, and build trust with clients and employees alike. For professionals such as accountants and solicitors, whose roles often hinge on integrity, attention to detail, and client confidentiality, establishing and living by a set of core values is especially vital. This article will explore why values matter in business, how to design meaningful values, and the steps required to keep them alive in day-to-day operations.

The importance of company values

Business values are the principles and beliefs that guide an organisation’s behaviour, decisions, and interactions with clients, stakeholders, and employees. At Worrells we have found that values are more than just ideals—they’re fundamental to delivering high-quality services, creating a strong culture and attracting the right talent. By shaping daily actions and setting standards for professional conduct, values play a crucial role in building trust and ensuring excellence.

1. Client trust: Values lay the foundation for trust. In industries like accounting, clients need to know they can trust their advisors with sensitive information. Values like honesty and confidentiality assure clients that they are dealing with professionals who respect their interests and privacy.

2. Consistency and clarity: Having clear values provides a framework for decision-making, ensuring that employees understand the standard of behaviour expected in all situations. This is particularly important for professionals handling financial or legal matters, where consistency in ethical standards is paramount.

3. Employee morale and retention: An organisation that lives its values often has a stronger, more positive workplace culture. Employees who believe in and align with company values are likely to feel more satisfied and engaged, which can reduce turnover and increase productivity.

4. Reputation and brand differentiation: In fields crowded with competitors, values set a business apart. Clients and potential employees are drawn to organisations with reputations for integrity, fairness, and excellence. A strong values-driven culture can become a unique selling point, enhancing the business's overall reputation.

Designing meaningful values

Crafting meaningful values involves a careful consideration of what your organisation truly stands for. Generic values that feel disconnected from everyday practice are unlikely to inspire or engage employees, so it’s essential to create values that resonate with both the business’s purpose, operations and its people.

1. Start with reflection: Consider the behaviours, attitudes, and qualities that have driven your business’s success so far. Are honesty, resilience, and client focus essential to how your team operates? Identify the characteristics that best represent your business and set you apart from competitors.

2. Engage stakeholders: Including employees in the value-creation process ensures that values reflect the team's collective spirit and are more likely to resonate across the organisation. Seek input from across the organisation to identify shared principles and behaviours. At Worrells we ran several small group employee sessions to brainstorm and refine.

3. Be specific and action-oriented: Avoid vague terms like "integrity" without context. Instead, specify what integrity means in practice. For example, integrity could be defined as “always providing accurate, honest advice to clients, even if it’s not the most profitable option.”

4. Align with business goals: Your values should support the strategic direction of your business. If client satisfaction is a key objective, then words like “responsiveness” or “exceeding expectations” may be appropriate to begin the process with.

Embedding values in daily life

Defining values is just the beginning. To be effective, values must be woven into the fabric of daily operations, upheld by leadership, and reinforced regularly to keep them alive.

1. Integrate values into onboarding and training: Ensure new employees understand the company’s values from the outset by including them in the onboarding process. Regular training on how values apply to specific situations, such as client interactions or reporting, can reinforce these principles. At Worrells the leaders are responsible for running new employee values sessions throughout the Induction Program.

2. Lead by example: Leadership plays a critical role in bringing values to life. Leaders who demonstrate the company’s values in their actions set the tone and inspire others to follow suit. For example, at Worrells the leaders have committed to giving and receiving feedback on how they live the values and also at times when they fall short. This creates an environment of accountability for leaders.

3. Incorporate values into performance reviews: Evaluating employees on how well they embody the company's values as part of their performance reviews sends a powerful message. For example, if collaboration is a value, employees could be assessed on how well they work with others, sharing credit and knowledge openly.

4. Recognise and reward value-driven behaviours: Acknowledge employees who embody the company’s values. Recognising value-driven behaviour in team meetings or award ceremonies reinforces the importance of values and encourages others to act similarly. Worrells rewards staff with awards based on displaying the values.

5. Revisit and refresh: Values are not static and may need revisiting as the business grows. Periodic reviews allow the organisation to assess whether values are still relevant and impactful. If necessary, update the language or examples used to keep values aligned with current priorities. This should happen every 5 – 10 years.

6. Communicate values consistently: Display values where they are visible, whether that’s in the office, on the company website, or within internal communications. Embedding values into daily dialogue, emails, and meetings keeps them front-of-mind for everyone.

For any business, core values are an essential asset that supports trust, consistency, and ethical standards. Clearly defined and effectively implemented values create a solid framework for reliable behaviour and contribute to a positive workplace culture that attracts both clients and talent. By thoughtfully crafting values and embedding them into daily operations, businesses can ensure these principles remain central to their identity and long-term success.