Jeff Judy

Jeff's Thoughts - June 8 , 2011

Core Values: In Action, or Inaction?

What do you believe in, as an organization? A couple of years ago, The Financial Brand asked that question of banks ranging widely in size in an effort to identify the core values of these institutions. They came up with a list of the most commonly mentioned values, but that doesn't tell us whether these banks actually acted on those values.

Let's ask some hard-nosed questions about The Financial Brand's findings:

Like most cultural issues, it comes down to a question of alignment. Your official core values are probably well known in the executive suite and in the marketing department. But if you asked front-line employees, would you get the same list of values?

And if you asked your customers to complete this statement: "I believe my bank's three most important values are __________," would "integrity" and "excellence" be at the top of this list?

If you don't know how the results would turn out, with your employees and your customers, maybe it is time to ask them. Without a tight, consistent culture in which common values are held throughout the institution, your stated values are not having much impact on the way you do business.