The RSJ Thought Center
By identifying these values, and then using structural capital and social capital to support them, you create a stronger chance of seeing your financial capital thrive.
So how do you find your company’s values?
Gino Wickman, author of Traction, describes his process for finding workplace values.
1. Start by finding the characteristic shared by your top performers.
2. Hire with these characteristics in mind.
Shared Characteristics of Top Performers
Think of the people in your family’s business who are the stars. These are the people you want to clone. In fact, if you could clone these employees, your family business would take over the world.
Once you have identified a handful of these people, write down the characteristics that they display in their work.
You might come up with things like:
▪ Committed to quality
▪ Helps first
▪ Pays attention to reputation
▪ Does the right thing
▪ Is compassionate
▪ Encourages others
▪ First one to arrive, last one to leave
Some of these values might be position specific: For instance, a person who works with customers might demonstrate the value of helping others first, whereas the bookkeeper might be extremely honest. These values are important, but more important are the shared values.
What are the values your top performers share across the board?
Hire With These Characteristics in Mind
Identifying these values is particularly important in a family business, where family members are often hired and plugged into positions that are not quite right for them. When you intentionally identify the shared values of top performers, you can look for them in the hiring process and stop hiring people unless they also share these values.
If, for instance, all of your peak performers are consistently dependable, committed to quality, and growth-oriented, you will know that you can hire only people—family members or not—who share this profile.
Once you hire an excellent team of people who exhibit these values, they will start to emerge naturally as part of your brand, which will pay off in dividends when it comes to having lasting relationships with your clients.
One other thing: Be sure that your individual values and your workplace values support one another.
150+ person-years of experience later, we identify what separates winners from losers.
A few months back our business advisory partners were in a planning meeting when the topic of what made our most successful clients successful came up ... as well as what made our least successful clients the least successful.
We ended up throwing a lot of ideas on the whiteboard, and ended up paring them down to 21 shared characteristics that we felt represented the fundamental keys to creating a successful business.
Rose, Snyder & Jacobs LLP is a CPA firm based in Encino, CA that serves private and public companies, business owners and high-net-worth families. Our services include tax, assurance, estate planning, business advisory, and wealth transition consulting. We deliver a long-term perspective and innovative accounting solutions so our clients can focus on their success. Call us at 818.461.0600 for a confidential, no-obligation discussion.