CUs consider workplace culture strategies.

Values are the intangible qualities that are important to people. A person’s values affect their relationships, how they spend their time, what they focus on, how they think about their work and the decisions they make. Like personal values, organizational values determine priorities and drive decisions. Alignment of personal values with a common set of your core credit union values helps people work together better to achieve goals. A culture based on values, like those that encourage trust, promote teamwork, inspire innovation, are member-focused and support employee growth, will engage the workforce and are proven to positively affect productivity and profitability.

But actions speak louder than words. Declared values don’t matter much unless leadership actually lives them. According to a University of Chicago Booth School of Business study, 80% of S&P 500 companies listed their values on their websites. Not surprisingly, they included innovation (80%), integrity (70%), respect (70%), quality (60%) and teamwork (50%). Yet, in “The Value of Corporate Culture” by Luigi Zingales et al, Booth researchers tell us the types of values listed were not correlated with better performance. What mattered for profitability was that employees saw that their leaders used stated values to guide decisions. Companies performed measurably better when the employees felt “management’s actions matched their words” and “management is honest and ethical in its business practices.”

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