BY SCOTT MCCLYMONDS
The application of core values is vital to credit unions’ championship status, but what does the term “core value” mean anyway? And how does your CU ensure such values are put into action and consistently executed? These strategies will help you get the most out of your guiding principles.
One of the biggest leadership lessons I’ve learned is the important role core values play in a company’s success. More precisely, how companies apply their core values to their everyday business practices is the difference between thinking and acting like a champion versus being an average performer.
I had always read about the importance of core values and had established them for each company I owned. But it wasn’t until I began engaging the CEOs of some of the nation’s largest credit unions that I started to see how core values can be driven down to specific behaviors that are measurable and actionable.
Since applying core values is so important, let’s define what that phrase means. Your core values are the heart and soul of how you do business. They are the guiding principles dictating appropriate behaviors and actions. They help companies determine if they are on the right path and fulfilling their business goals. They also create an unwavering and unchanging guide.
Core values are strategic and permanent. While strategies and tactics vary, the guiding principles of your company – your core values – do not. The question is, how do you make them actionable and ensure you are consistently executing upon them?