Company values are an indicator of a business’ integrity, and acts as a beacon for all employees. Values are the foundations of the the vision and corporate culture of any business. It is a unique tool which connects employees from across the world, and empowers them to work together in a certain way.
But How do they work? And how does a company choose them?
Do all companies need values? We are pretty sure that most companies have a set of values, but they are not always communicated well. After all, if you have a small business and only a small number of staff - it is easier to communicate to the team and find common solutions. But if you grow to become a large international company, values become even more important. Why is that? Values are the pillar on which the vision, culture, goals, and development strategy of the company are built. It gives employees around the world something to focus on.
Where to find your company values? Definitely not sitting in the office. Parimatch found ours in the mountains of Georgia. Sixty-five managers from across all regions we operate in decided to live the company's values by getting closer with nature. They divided into teams and made a four-hour mountain crossing at an altitude of 1281 meters. It was in these uncomfortable conditions that the managers were able to feel how our company values helped, or indeed hindered the experience. It is very important not only to write values on paper, but also to have an emotional reaction to ensure that you truly live the values you say that you do.
How did we make this happen? The Parimatch team initially divided into seven groups. Each group had to live its own value. Inside the group, each participant had a role: leader (ambassador of the value), hero, motivator, support man, shaman (people who recorded the emotional and physical state of the team during the experience), as well as an opponent of the value. Why is an adversary of value to the group? It was this person who questioned the credibility of the value. The arguments of this participant helped the group to agree on the basic principles of each value. Hiking in the mountains is a fantastic adventure, but at the same time, it is a test. It is by overcoming the challenge that you find true meaning. In addition to the main task of climbing the mountain path, participants had to apply their value to the challenge and observe their emotions, feelings, thoughts and how their relationships within the group changed. When the participants returned from their mountain hike, they became stronger, friendlier, and spiritually richer.
The next day, the teams gathered again. They analyzed their feelings, and discussed, and developed the basic principles and meanings of their values. Each person understood the values in his way. The goal was to come to a conclusion which would satisfy everyone without exception. And of course, at the end, each group made a presentation of their values and shared their feelings with the rest of the participants. In just 2 days, 65 people decided upon seven company values.
What's next? Now it is crucial to communicate and implement these values within the company, as well as to external stakeholders.
Tatiana Davydova, Chief HR Officer:
"Our task is not just to write down values on paper, but to give our employees a real opportunity to live these values. In 2020, we will spend every month living and breathing a certain value, and all our activities will be aimed at showcasing that value from different perspectives. This includes lectures,competitions, changes in nutrition programs, and much, much more.
What we certainly do not want is to impose these values within the organization. But they are what our business is anchored in. We will share our values with employees in a friendly and comfortable way. And we believe that, over time, they will begin to embody these values, and help our employees become even stronger.”
Andrii Suslenko, Communications Director:
"A company that employs corporate values is a good sign for any external partner. It is important to show these values to the world. How? Each of Parimatch's employees lives our values. Our TOP managers are continually participating in international industry events. Their vision and principles are the authoritative voice of our values to our business partners. Thanks to our HR practices, our employees also communicate the company's values to society, to their friends and families. And of course, we demonstrate the implementation of company values through the media and PR campaigns. You can easily find videos from our corporate events on our social and YouTube channels including: PM Summer Camp, PM Night, Family Day. At these events, we live our values and enable our families and partners to live them with us. Our values are not about PR or business results. It is about us as individuals. And we are always happy to share our experiences and achievements on this subject."