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BUSINESS
WHY CORE VALUES ARE THE HEARTBEAT OF YOUR BUSINESS! By Rebecca Miller
Your company’s values are the overarching fundamental beliefs that your team, as a whole, holds – it’s what guides them to do what they do. These beliefs dictate the way your team works, the decisions they make and how they interact with each other & your clients. Company values (also referred to as corporate values or core values) bind your team together with a common business goal. Company values play a powerful role in any business’ culture and should not be overlooked in the salon setting. They illustrate what your salon believes to potential employees & customers, as well as influencing & reminding your current team of the accepted way of working, behaving, and accomplishing outcomes. It’s important that your values are carefully considered and that your salon can stay true to them, despite changes in the market or in your business priorities. Successful businesses have a strong set of values that remain fixed, even as their business strategies and tactics shift to adapt to changes in the industry or new levels of growth. In fact, company values should be leant on in times of change.
HOW COMPANY VALUES POSITIVELY IMPACT YOUR SALON
Countless studies have shown that businesses with strong company values have greater customer & team satisfaction, faster growth, and better financial performance. These favourable outcomes are a result of a united team. Team alignment and unity is one of the ways company values can assist your salon. Your salon’s bigger purpose and goals are easily communicated when your team understands and lives your company values. Team and individual performance are enhanced when a team is united in their common goal, understands the why behind decisions, and sees their leaders & peers consistently acting with their company values front of mind. Your company values should also influence your recruitment process greatly: hire and fire by them. Having clear values will not only help you hire new team members that will be a good cultural fit but will also help you attract the right team members for your salon. Most salon owners can think back to a time when one team member’s attitude, lack of productivity or negativity brought the whole team down, costing valuable time, resources, and energy. When recruiting, outline your values to appeal to like-minded candidates. This is great for team retention as well, as individuals who hold 68
Beauty Biz Year 15 Issue 3
the same values as your salon will fit into your existing team easily. When inducting new team members, ensure your company values are explicitly explained, with context and examples. Revisit these in one-on-one meetings and help your team to evaluate their behaviour based on company values. Good values will lead your team’s behaviour and their decision making within the business. Your company’s values are ideally ingrained in each team member. If your team is inconsistent with values-led behaviour, support your team to constantly question if their actions and choices pass your company’s ‘values test’. This will help to align your team more closely with your company’s values and make decisions that support your salon and its goals. Ultimately, it creates accountability for each team member and your customers will see this at every appointment and in every interaction, they have with your salon. When your team understands your company values, they understand clearly what is expected of them. This understanding is incredibly motivating for performance, as individuals that know what’s expected feel more confident in their work and contribution to common goals. A great way to further motivate your team is to recognise examples of values-led behaviour. If you then choose to reward it, you’ll see it repeated. Publicly
sharing ways that team members have put company values into action will motivate the rest of your team to do the same. Your culture is your brand. Your company’s values will not only attract customers, but your ideal clients. People choose brands and businesses that reflect their own values and belief systems. Your company’s values tell the world what’s important to your business and why you do what you do. The clients that choose your salon based on your values will be loyal and enthusiastic about sharing their experience by telling others. As a salon coach and business owner, I see the real importance of company values and the way they can impact a salon business. When you and your team can stay true to your company’s values, your salon business will be stronger and more resilient. The ‘right’ decision will be clear, as it will be the one that aligns with your company values, without compromise. Companies with strong values stand out from the crowd, as well as enjoying the myriad of benefits that valuesled behaviour provides. If you need help establishing or refreshing your salon’s values, contact me to book in a FREE Turbo Discovery Coaching Call and let’s make it happen! Rebecca Miller rebecca@zingcoach.com.au
