Importance of core values in promoting brand visibility, profitability and customer loyalty
Founders, your core values are your recipe for organizational success; my Emerging Africa experience
In the midst of partying and jollying at the “Masquerade Ball” themed 2022 End-of-the-Year party of the Emerging Africa Group, I felt a hand tap on my shoulder and a whisper in my ear: “Obasan, prepare to talk about your employee experience at EAG since the acquisition of Fundall."
I looked back in an attempt to unmask the masquerade, and I saw the tall, dark, and handsome member of HR, Dami, who I could not say no to, first because of his physique (I am barely 5'3" and he is north of 6'3") and also because he is my guy. It was time to set aside the glass of my favourite drink and proceed to address the congregation of investors, directors, executives, and my co-party rockers.
As I stood at the front to speak, it dawned on me that all of my thoughts and experiences could be traced back to the core values of the group. As an employee, I have seen firsthand the importance of being intentional about core values. From my first meeting with the Founder and Executive Vice Chair, I gained a clear understanding of her vision for the Emerging Africa Group, as well as her confidence in the team's ability to achieve these goals and vision. She has always placed a strong emphasis on living our values in action and leading by example, and this has had a huge impact on our group’s success.
At every interaction, she mentors managers, executives, and indeed the entire team on how to situate their career and personal goals into the vision, and when they eventually exit from the group, the work and contributions to the vision are able to help them achieve their goals for their next career journey. That win-win situation is all it takes to get people to put their boots down and collectively carry the vision and imbibe the core values.
One of our core values is excellence, and I have seen how this value has driven us to continuously improve and strive for global best practices. This has helped us to differentiate ourselves from our competitors and establish a reputation for excellence, which has been essential for attracting customers and achieving profitability. On several occasions, employees were publicly celebrated and rewarded for their excellence in their personal and career lives, and this has spurred more people to ensure they are always known for excellence.
Our ambition as a company is also a key factor in our success. Our management team sets ambitious goals for us to work toward and inspires us to pursue these goals with determination and passion. This drive to succeed has contributed to our organization's increased impact and profitability.
In addition, the team encourages collaboration and builds strong relationships with our partners. This has helped us to tap into new resources, knowledge, and expertise that have been crucial to our growth and success. In my short time at EAG, I have seen people collaborate across subsidiaries that seem parallel and deliver values.
Finally, the team is always looking for ways to innovate and adapt to changing market conditions. Managers are charged with encouraging their teams to embrace new ideas and learn new skills to help us scale our operations. This focus on growth has helped us to attract top talent and retain our existing employees, which has been essential for maintaining profitability and customer loyalty.
Overall, my experience as an employee has taught me the importance of being intentional about core values. Living our values in action and having the management team lead by example, has created a positive and productive culture that has helped us achieve our goals and exceed customer and stakeholder expectations.
As a business leader, it is essential to be intentional about your core values and make them the centre of all your strategies, activities, and execution. These values shape the culture of your organisation and influence the way you conduct business. Here are three reasons why being intentional about your core values is so important:
- Core values drive business success: By living your values in action and leading by example, you can create a positive and productive culture within your organization. This can help to differentiate your business from competitors and establish a reputation for excellence, which is essential for attracting customers and achieving profitability.
- Core values inspire employee engagement and retention: When your employees believe in the values of your organization and feel that they align with their own personal values, they are more likely to be engaged and motivated in their work. This can help to improve retention rates and reduce turnover, which can save your business time and money.
- Core values strengthen customer loyalty: Customers are more likely to be loyal to businesses that align with their own values. By being transparent about your values and consistently living them in action, you can build trust with your customers and create long-term relationships.
In short, being intentional about your core values is essential for the success and sustainability of your business. By making them the centre of all your strategies, activities, and execution, you can drive business success, inspire employee engagement and retention, and strengthen customer loyalty.