WHAT’S THE HISTORY OF ORGANISATIONAL VALUES?
When Johnson & Johnson’s CEO codified the company’s principles in 1943, corporate value statements were a novelty. Today, they are common in public, private and third sector organisations in the UK. Recent studies by LinkedIn and Oxford Charter Project suggest that around 80% published an official set of values on their website and other communication material.
Oxford Charter Project UK Business Values Survey 2022
Top Five Findings of 2022 Study Report
Collaboration is the number one value in UK businesses, with previous poll leader, integrity, at number two. Lessons of large-scale collaboration during the COVID pandemic remain relevant, as does the sustained importance of intentional ethical practice.
Empathy, passion and courage are prominent values that did not feature significantly in earlier reports. They highlight the increasing importance of personal and emotional aspects of organisational life.
In spite of research supporting their importance, curiosity, humility, hope, and gratitude are scarcely used values in business. Are the companies articulating these values outliers or are they at the vanguard of change?
When it comes to the selection of values, 82% of companies that describe their process refer to a top-down approach. Just 18% indicate a more collaborative process.
Companies’ consistently express high aspirations when it comes to embedding their values, but the language describing how this is done in practice is vague. Stock phrases, such as leaders ‘setting the tone’ and values being ‘monitored by the board’ are prevalent.
Oxford Charter Project UK Business Values Survey 2022
WHY DOES IT MATTER?
It matters because NHS Supply Chain provides service and goods into a national institution, the NHS. It matters from a personal perspective to the people in the organisation and to the people and systems the organisation serves.
For any of this to work, it needs to matter to everyone, and everyone needs to have a part to play in creating the values for the organisation and aligning these to values at team, and personal levels. This innovative project has the intention of beginning that process.
No one involved is naive enough to think this is enough, but it is a start.
Listen to the CEO, Andrew New, on why this matters.