Business

Why Start-Up Companies Need Values

Globally, innovation is bringing high-end solutions that support existence, and it is the dream of every start-up companies vision to do more. Innovators are expected to define their company values and ethos from the early stage. Apart from values, strategic business advice suggests that every start-up founder should form a culture that promotes the companies objectives. Here are some reasons why every start-up needs the right values.

Eliminate Mistrust

Company values help to reduce or eliminate mistrusts in the workforce through a proper recruitment process. It is important to have a credible workforce that can reassure consumers of reliability and quality control. However, without trustworthy employees, a start-up might never succeed in business. Apart from business processes, it is the people that determine the success of start-ups. A start-up founder will need to expand at some point, but it is imperative to find good hands. Conducting comprehensive background and reference checks before you hire employees can eliminate issues of mistrust. People make the mistake of performing these checks after interviewing job candidates. Instead, pre-interview checks are necessary after short-listing candidates based on certain criteria such as a resume or cover letter.

Here are some aspects of a comprehensive reference check according to high quality business advisors:

1. Reference checks on people (resume references) that have been listed by the applicant
2. Verification of prior job role, titles and places of employment
3. Verification of dates of employment and responsibilities
4. Verification of starting and current salary
5. Verification of educational qualifications and school attendance
6. Inquire about the reason for the applicant’s desire to leave the current employer
7. Speak with the applicant’s prior supervisors about their strengths and weaknesses
8. Make inquiries on how well the applicant gets along well colleagues and customers
9. Make inquiries on how well the applicant can fit into the new role and his current
attitude to work
10. Make inquiries on how the applicant’s punctuality or absenteeism issues

To fairly judge applicants, start-up companies should outsource these comprehensive backgrounds and reference checks to third-party agencies. The values and ethos of a company form its culture. New employees might experience the companies cultural shock and it might affect them initially. However, HR should find ways of helping them settle into their new roles if they have been truthful and accurate in their resume. Also. it is proper to abide by the government’s regulations and labor laws when conducting background checks on employment applications.

Creativity

Start-ups are known for innovative ideas. So, employees must be encouraged to be creative, and offer value. By being innovative, your start-up attains a competitive advantage over redundant companies. Develop a secret laboratory within the company where employees can engage in research and development of little ideas. Also, there should be protections of their intellectual property, as part of company values.

Transparency

Transparency does not mean that start-ups should divulge trade secrets or the ideas behind every intellectual property. Instead, it means the company must have a culture of being genuine. Advertisement and marketing campaigns are ways of misleading consumers. However, start-ups must distinguish their values from rival companies by being genuine and transparent with product information.

Shared Values

Identify shared values among company leaders, managers, and junior employees. The HR could register for all-expense paid holidays for company leaders, and scholarships for dependents of deserving employees. It is very important for your start-up company to have a culture of inclusiveness by identifying the right shared values for the workforce.

Corporate Social Responsibility (CSR)

Giving back to your workforce and community every year is a core value that promotes commitment. It is like a bond when employees and host community of businesses have positive perception about a start-up. With CSR policies being implemented yearly, your employees will have confidence in the companies values, and customers will have trust in your products. Also, CSR promotes a friendly atmosphere for start-ups and their host communities to thrive.

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