Should ‘People’ Be A Corporate Value?

Many companies list ‘People’ as one of their core values. But the specific meaning can vary between companies.

A few examples:

• As one of 6 values, Praxair (industrial gases) lists “The Right People”.
• As one of 3 values, Jacobs (construction and engineering) claims: “People are our greatest asset”.
• Within a series of statements about their values, VF Corporation (apparel and footwear) states: “Our people are the source of our success”.
• As one of 5 values, First Data (global commerce support services) proudly state that they “Empower our people”.
• Visa (credit cards) lists ‘People’ as one of 6 values. In their Code of Business Conduct they make the statement “Behind payments are people.”

It’s wonderful if such companies uphold this value. Regardless of how well they do, at least they appear to be addressing a social norm.

But can ‘People’ actually be a corporate value?

People as a Value?

Think about it.

How do you value people?

When you are asked to behave in accordance with a set of values, it should be clear what is expected. For example, you know what to do when you’re asked to:

• be honest
• act with integrity
• collaborate in a team-based environment
• be innovative
• achieve specific results.

But when it comes to the value of “People”, how do you behave?

Can people value people? The real value here is likely something different.

Respect and Learning

In many cases, what employees are really being asked to do is respect others. In this case, the value is actually ‘Respect’.

Dow Chemical, for example, makes this very clear by simply stating one of their 3 values as “Respect for People”. In their Code of Business Conduct, they reference “Respect” 30 different times, and define their value this way:

“We believe in the inherent worth of all people. We the employees of Dow are the engine of value creation; our imagination, determination and dedication are essential to growth.”

In other cases, what the company is really stating is that they provide training and learning opportunities for their people that leads to continuous improvement and personal growth. In this case, the value is not about people. It’s about ‘Learning’.

For example, Visa (the credit card company) defines the value of ‘People’ this way:

“We are committed to building a culture that brings out the best in our people, and we work hard to develop our talent and provide opportunities through on-the-job training, active support from leaders, and diligent management of our own careers.”

Clearly, Respect and Learning are two powerful values. They have meaning and relevance to employees, which in turn benefits customers and thereby the company.

So, unless a company can leverage the skills of their people in a manner that provides competitive advantage, I would argue that ‘People’ is not a real corporate value.

 

Do you feel ‘People’ is a legitimate corporate value?