The Most Over-Looked Aspect of Strategic Planning

We are entering strategic planning season for many companies setting the course for growth in 2025. It’s time to focus on a vital, but often-minimized element of an organization’s foundation – core values. 

Values frequently have similar names – guiding principles, key tenets, value statements. A favorite is from one of our recent clients; they positioned theirs as Pillars. What a powerful visual for the unshakable, unchanging principles that inform their mindsets and behaviors. 

Whatever moniker you use, the importance of core values is unmistakable. They are consistent reference points for making decisions and aligning behaviors with an organization’s mission and vision. Values also help set expectations for how team members should act with each other, customers, and partners. 

Neurologists tell us that we always think before we act. Even with impulse actions, they are preceded by subconscious thoughts. And we know that thoughts are rooted in our values…the moral, ethical, and spiritual principles we hold dear. Therefore, values inform our actions; they are filters through which we participate in the workplace and beyond.  

Imagine how crucial it is to promote clear, meaningful values in your firm. Your team – as chief stewards of these beliefs – is the most visible “proof” of living out the values even in times of stress and change. Indeed, values are the anchor that equip employees with stability and continuity. And it’s no surprise that this consistency builds trust and credibility with stakeholders and helps establish a strong, positive reputation. 

Netflix is one of my favorite corporate examples of emboldening a team with values. One of theirs is “Judgment: we make wise decisions despite ambiguity.” They prioritize empowering individuals with expertise using data-driven insights and embracing calculated risks. They drive behaviors with the value through “informed captains” – designated internal SMEs others can call on as thought partners based on their deep knowledge of specific domains. That’s living it out. 

As we lead executive teams in strategic planning, a frequent question is “how do we select our core values?”. One of the first characteristics to consider is their relevance to who you are as an organization. Values selection should not be a set of desired qualities; instead, they are principles that define your current DNA, how you collectively show up as your best selves. 

Then we prompt leaders through several activities that craft fundamental beliefs, behaviors that demonstrate them, questions that spur accountability, and stories that illustrate their impact. Consider using these steps if you want to develop or refresh your core values: 

• Select a potential belief or principle. Ask “what behaviors are you so committed to that you won’t compromise, even to your detriment?”. Compile a list from your team and discuss. 

• For each, compose a brief description that brings the value to life. 

• Assign specific behaviors directly associated with that value. How is each belief manifested throughout the organization? A helpful prompt is “We believe (value)…therefore, we will (behavior).” 

• Craft a prompting question that regularly focuses attention on living out that value. For example, this question can be asked at staff meetings to promote accountability. 

• Build a selection of brief anecdotes from employees. What are specific examples of that value in action within the firm? Collect and share these often! 

Another frequent question we receive is “where do personal values come into play (or do they)?”. The short answer is yes, they show up in spades, but probably not overtly. We’ve conducted considerable research into why employees stay at companies and why they leave. One of the highest correlated factors for both is alignment of personal values with corporate values. Minimal or no overlap of values typically leads to frustration and a sense of isolation. Considerable overlap or alignment generates content and belonging. 

Core values often may be overlooked come strategy time, but their importance to shaping organizational culture, hiring great teammates, driving engagement and motivation, and informing wise decision-making is unescapable. 

If your team needs guidance with the strategic planning journey, you can rely on our executive consultants and trained facilitators. We provide focus, organizational wisdom, and a strategic competency with an engaging process that allows every member of your team to participate fully. If you would like to learn more about strategic planning and how we have helped dozens of firms of all sizes, learn more here or email gary.mcclure@thrivence.com.

Gary McClure is Senior Consultant with Thrivence. For nearly two decades he has led executive teams in strategic planning, communications, change management, and the implementation of those plans. As a certified professional facilitator, he excels with small groups to achieve their objectives. He can be reached at gary.mcclure@thrivence.com.