Mission, vision, and value statements provide great guidelines for how everyone in a company should conduct themselves in the pursuit of business. But how often do these statements come across as glorified lip service? And if in fact taken seriously, what impact do they have on your performance, and your company’s bottom line?
This month’s AFR BOSS magazine featured an article about the validity of corporate values statements, in which Nitro CEO Sam Chandler shared our company’s succinct values: “High Performance. No Bullshit. Be Good.” While simplistic at first glance, these values hit home for we Nitronauts. They mean that, regardless of what your role at Nitro may be, your success is defined by these three core values which are celebrated in ways large and small across the company.
Photo credit: Dilbert.com
As a startup that made $30 million in revenue last year, we are in an enviable position among our peers. Without a high performing team, we wouldn’t stand a chance at hitting the mark. To honour Nitronauts that have performed exceptionally well, managers give out “You Rock Awards” which could include winery tours, go-karting, fishing charters and more. Sales teams also give out a quarterly “Seany Award” to the highest performing sales executive, who wins an extra day off to rest, relax and recharge.
This core value is the one that draws the most attention – not only for its slightly controversial language, but because it transcends all types of activities. An example of this being practiced from top down is the monthly global meetings that are held to share company news and updates. At the end of each meeting, the leadership takes and answers questions submitted anonymously by Nitronauts, and follow up actions are shared readily. While this seems straightforward enough, not many companies walk the talk when it comes to corporate transparency – with over 70% of employees feeling managers don’t spend enough time explaining goals, as reported in this Forbes article.
Nitronauts are a giving lot; among themselves, with popular programs such as Nitro Mates (a work buddy to help you integrate quicker when you join Nitro), and with those in need, through Nitro Gives (a company initiative to promote charitable causes). But “being good” goes even beyond this. It may be shown in the way you choose to respond to a stressful situation at work, being mindful of the impact of your behavior to your team and company.
Those who go above and beyond to exemplify these three core values at Nitro are voted into the annual Sean Stewart Values Award, and are rewarded with a 1-week all-expense paid trip to a Nitro office of their choice (San Francisco, Dublin or Melbourne). The prize is amazing, but more than anything, the honour comes from being recognised by your colleagues as a true ambassador of the Nitro way.
So, do your corporate values impact the way you and your company perform? Please tell us how in the comments!