HilaireHenthorne, J.D., M.Div. Hilaire has lived and worked in the Washington, D.C. area for 25 years, first as an attorney, then as a solo pastor and church planter, and currently as a business consultant and executive coach. She received her law degree from Catholic University, and practiced law for 12 years, both in private practice and with the federal government. She served on the staff of the Chief Counsel for the U.S. Secret Service and as Counsel to the Inspector General of the U.S. International Trade Commission. She then attended Virginia Theological Seminary in Alexandria, Virginia, from which she received her Masters in Divinity. Hilaire is ordained in the Presbyterian Church (USA). She planted a non-denominational Protestant church in a community in Springfield, Virginia which grew to 250 members. She served as the solo pastor of that congregation for 9 years. Most recently, Hilaire launched a professional consultant and coaching business: Passionate Purpose Coaching (www.passionatepurposecoaching.com). She partners with highly motivated individuals and businesses to forge a link between what they do best (their purpose) and what they love to do (their passion). She also leads seminars, speaks before Chambers of Commerce and civic organizations, and publishes articles. On December 14, 2010, the Enterprise Center published an article that she wrote entitled: The Fake Choice – Life Coaching vs. Career Coaching. Her article is posted at www.incubationworks.com, on the In the Know page. The article examines how to align our work and personal priorities with our values, so we can design a life worth living.
Don’t Devalue Your Values Why Purpose, Values And Culture Are Critical To Your Business Copyright 2011. Hilaire R. Henthorne, Passionate Purpose Coaching. All rights reserved. Nopart of this presentation can be reproduced in oral or written form without the written permission of the author and without proper attribution in a footnote or endnote.
Don’t Devalue Your Values Two purposes for today’s talk: Develop a strong culture, rooted in a clear purpose and enduring values; and Create the basis for a great business which customers, employees, vendors and the local community will love being associated with
Don’t Devalue Your Values Profit alone is NOT a good enough reason for a business to exist
Don’t Devalue Your Values An organization’s values and culture flow directly from its purpose
Don’t Devalue Your Values Businesses follow their values and their cultures reflect those values.
Don’t Devalue Your Values Purpose: the reason your company exists.
Don’t Devalue Your Values Strong Relationship Between Purpose and Profit Companies with strong purpose, values and culture outperform general market 15:1 Companies with strong purpose, values and culture outperform comparable companies 6:1
Don’t Devalue Your Values Harvard Business School study showed that firms with strong purpose, values and culture outperformed firms with weak purpose/culture. At firms with strong purpose, values and culture, revenue grew 4x faster; rate of job creation was 7x higher; stock prices grew 12x faster; and profit was significantly higher You can’t afford not to care about purpose!
Don’t Devalue Your Values An organization without a clear purpose is like a car without steering.
Don’t Devalue Your Values It’s a mistake to be guided only or primarily by what people will pay for if a given product or service doesn’t fit your purpose.
Don’t Devalue Your Values Know what your purpose is, so that if others in your company say “Our competition at XYZ is doing such-n-such and so should we,” you can assess whether the proposed change(s) fit your purpose. Keeps you from making knee jerk responses to competitors.
Don’t Devalue Your Values Pampers’ Purpose: Dry bottoms vs. Healthy Babies
Don’t Devalue Your Values 5 Characteristics of A Clear Purpose: 1. It inspires your employees. 2. As valid 100 years from now as today. 3. Helps you think broadly about what you could do, but aren’t doing. 4. Helps you decide what NOT to do. 5. It’s truly authentic to the company. Jim Collins, Inc., 1997
Don’t Devalue Your Values Value: A principle, standard or quality which you consider worthwhile or desirable.
Don’t Devalue Your Values 3M: Core Value = Stimulate Innovation
Don’t Devalue Your Values Umpqua Bank: Core Value = Community Responsibility
Don’t Devalue Your Values You can’t get people to adopt or buy into your core values. Employees either share them or they don’t. Jim Collins, “Aligning Action and Values,” June 2000.
Don’t Devalue Your Values Once you identify your core values, your next task as a business owner is to find the people who share your values. So be clear with others about your purpose and values.
Don’t Devalue Your Values Alignment with your values is critical for your business to function effectively and credibly. Owners need to periodically assess whether their business’ values and practices are misaligned, and to correct misalignments.
Don’t Devalue Your Values Core values don’t change over time; policies and practices do. Worry about what you do as a business, not just what you say.
Don’t Devalue Your Values Culture: The shared attitudes, beliefs and practices that characterize members of an organization. Culture describes the way a company’s owner(s) and employees think, feel and act. It is the set of rules, spoken or unspoken, that you live by. Adrian Gostick & Chester E. Hom, The Carrot Principle, O.C. Tanner Co., 2007, 97.
2 Video Clips on Business Culture: http://businessonmain.msn.com/videos/coolrunnings.aspx?cp-documentid=25253987 http://video.success.com/from-the-magazine/tony/ Don’tDevalue Your Values
Don’tDevalue Your Values Cultures That Don’t Serve Businesses Well: Culture of Resistance: Ex. Bear Stearns
Don’t Devalue Your Values Culture of Denial: Ex.’s – BP & Transocean Ltd.
Don’t Devalue Your Values Culture of “Do As We Say, Not As We Do:” Ex. - Raytheon
Don’t Devalue Your Values Culture of Silence: Ex.’s - NASA Shuttle Disasters & Transocean Ltd’s Safety Issues
Don’t Devalue Your Values Cultures That Serve Companies Well Innovation – Ex.’s: John Deere, Umpqua Bank
Don’t Devalue Your Values John Deere dealer: Curiosity Bonuses
Don’t Devalue Your Values Umpqua Bank: Makes banking a community event and a sensory experience
Don’t Devalue Your Values Threat to Inf0rmation Flow: Beware of the Shimmer Effect
Don’t Devalue Your Values Kent Thiry, CEO: DaVita: Rewards employees for leveling with him about bad news
Don’t Devalue Your Values Culture of Passion: Southwest Airlines
Don’t Devalue Your Values Culture of Employee Recognition/Appreciation: Recent study by the Jackson Organization indicated that 65% of American workers received No recognition from a manager during the previous year.
Don’t Devalue Your Values Culture of Employee Recognition/Appreciation – 79% of North Americans who quit their jobs cite lack of appreciation as a key reason for leaving
Don’t Devalue Your Values Culture of Employee Recognition/Appreciation – A Watson/Wyatt survey asked workers to identify “very significant” motivators of performance. 66% said “Appreciation.”
Don’t Devalue Your Values Culture of Appreciation/Recognition: Investing in recognition is good for business.
Don’t Devalue Your Values For recognition to be effective, it must be: Frequent – every 7 days Specific Timely
Don’t Devalue Your Values Recognition must be specific
Don’t Devalue Your Values Recognition Must Be Timely – At work as at home
Don’t Devalue Your Values Business Trends: Reduce Corporate Real Estate Footprint Reconfigure Corporate Office Space Emphasis on green building or conversion of existing buildings Labor outsourcing Reducing turnover costs
Don’t Devalue Your Values Paradigm Shift: 1 Office + 1 Employee + 1 Desk model is becoming extinct
Don’t Devalue Your Values Business’ new role: community gathering place – Umpqua, Wegmans, Safeway
Don’t Devalue Your Values Business Trend: Increasing Shortage of Skilled Workers
Don’t Devalue Your Values “Every Customer Is a Reporter Now,” Jay Baer, ConvinceandConvert.com