By Theresa Ball, Vice President, Valley Bank
Great companies persevere despite adversity because they have a sense of purpose that guides their way. It’s a sense of purpose embraced by everyone from the top on down. But losing a sense of purpose is a lot easier than keeping it strong, especially when there are things like business challenges and quarterly earnings involved.
But if you’re looking to build a strong, enduring company, purpose should be front and center of your strategy. And, if you feel like your company has lost its sense of purpose, now may be the right time to help get things back on track. Here are three things you can do.
1. BE CLEAR IN YOUR COMMUNICATIONS
Sometimes we think our message is getting through to people, but do we know for sure? A valuable step to take is to get feedback from your employees. See if they understand their roles and how it aligns with the company’s objectives. If it seems like they don’t see things the way you do, then maybe it’s time to reevaluate how you communicate to them. It could be your delivery methods are resonating or your messaging is cluttered with too much information for people to grasp. Finding ways to improve the clarity of your messaging can go a long way in helping your employees feel connected to the company and the greater purpose.
2. ESTABLISH A CLEAR MISSION STATEMENT
Lots of companies have mission statements. But sometimes they’re vague or don’t actually align with the day-to-day goals of the organization. Spend some time creating a mission statement that accurately reflects your company. If you already have one but your company has changed and evolved since it was created, now could be a great time to revisit your mission statement and branding to revitalize your company and infuse that sense of purpose once again.
3. EMPOWER YOUR PEOPLE
Your people are the core of your company. They make the magic happen. But to keep that magic alive they need to feel valued. That’s why it’s important to invest in your people, give them opportunities to share their ideas, and make them feel aligned with your organization’s purpose. You won’t be surprised then when you notice an improved bottom line, lower turnover rates, and people wanting to join your company.
CLOSING THOUGHT
Building a purpose-driven organization is about more than sharing motivational messages. It’s about being clear and honest about what your company aims to achieve and how each individual’s role is critical to achieving those goals. When you do that, you’ll find that your company will have the strength to overcome any obstacle and achieve any goal.
For More Information
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $41 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations across New Jersey, New York, Florida, and Alabama, and is committed to providing the most convenient service, the latest innovations, and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. For more, visit www.valley.com or call our Customer Care Center at 800.522.4100.
Modern Contractor Solutions, April 2021
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