Why Your Company Values Matter
It is essential to have distinct company values in every industry, including construction. Those ideals are sometimes brushed aside or their importance is undervalued.
However, organisational values help build shared drive and objectives within a team or across the whole company. Everyone in the business should be on the same page when it comes to basic values. Construction executives should take advantage of this fact by being familiar with and utilising the corporate values.
Values Shape Your Identity
Outlining your company's values helps build its identity. It allows you to prioritise the most important principles of your business.
Potential employees consider company culture and values when deciding where to work or when applying for jobs. When determining whether to hire you for a construction project, potential clients will also consider your company values.
In a nutshell, your values help you make the correct impression on potential employees, clients, and business partners by defining your identity.
Values Drive Your Team
The way your company values drive your employees is perhaps the most important reason they are so significant. However, for this to happen, those values must be incorporated into every decision you make, from recruiting to development projects.
It is actually easier for leadership to make judgments when your values are well defined. If construction management is undecided, consider the values. These values should emphasise which course of action is most beneficial to the company's goals and ambitions.
Values Encourage Accountability
Values influence far more than big leadership decisions. They also have an impact on the minor decisions that employees make on a daily basis, as well as the actions that follow. This can involve simple things like how much effort to put into as project.
Values establish accountability in the following ways. Employees and leadership alike are held accountable to those values, and clients are more confident in selecting your company since they know it adheres to those ideals.
Values Boost Profit and Growth
Strong core values have been shown to increase both profit and scalability. One study looking at companies over a 12-year period found that brands with a strong sense of purpose saw a 175 % boost in value throughout that time period. In comparison, the median increase was 86%.
Values-based Recruitment Improves Retention
We already explored how your values contribute to your company's identity, which is important for recruiting. Recruiting using a values-based strategy can also help with employee retention.
This stems from the reality that being explicit about your ideals makes it much easier to attract talent with comparable values. That should help them fit in better with your team and processes. Even if the talent you attract does not share your ideals, they will be aware of your position. This corresponds to more defined expectations and higher job satisfaction.
Conclusion
The values of your construction company shape your identity. They also provide guidance and accountability to every member of your team, from management to the lowest-level staff. Values that are clearly established can even increase your profits.
How can we help you?
Are you searching for an opportunity in the construction industry or a hiring manager in need of construction talent? Get in touch today getus@jamesgrayrecruitment.com