Create your Mission, Vision and Values for 2021
(Image Credit: Jess Bailey on Unsplash)
Does your organization have a Why? A Purpose or Passion? Or Mission, Vision and Values?
Having a mission, vision and values gives you the opportunity to look towards the future and the goals that you want to achieve. With 2021 around the corner, a new year gives you the chance to really reflect on what your organization’s mission, vision and values are, and create or refine them for further growth, guidance, and development.
Why are a mission, vision, and values so necessary and important for a business?
A mission, vision, and values create a sense of purpose and with a sense of purpose, employees have more confidence in the organization and more confident in what they can achieve and contribute to that success.
According to Deloitte, organizations with a strong sense of purpose are more likely to create a “best place to work” culture that drives innovation, embraces diversity, and helps employees reach their full potential. Along with this, having a mission, vision, and values create a workplace that people are excited about by giving employees a sense of purpose. By having a sense of purpose, 73% of employees are fully engaged in their work versus the 23% of employees that do not have a sense of purpose in the organization.
Still not convinced? Here are some reasons why your organization should consider having a mission, vision, and values:
A Mission is Your organization’s Guideline.
Every organization needs to have a “why” to guide what you want to achieve, and this is where your mission comes in. As OnStrategy says, a mission statement is where you state your organization’s purpose along with what your business offers and what you do to meet the needs of your customers.
To keep it simple, the mission statement covers the “who” and the “why” of your company: who you are and why you exist. A mission statement should be short, clear, and concise to get your point across and be able to be used as an everyday guideline as well as for making decisions in the future.
Your organization benefits from having a mission, and your employees do too. According to Forbes, employees are 54% more likely to stay 5 years at a company and 30% more likely to grow into high performers than those with only a paycheque as motivation.
Having a mission statement is necessary because it gives your employees a purpose and will increase the level of satisfaction they have in their work.
A Vision Sets a Goal for Your ORGANIZATION’S Future.
A vision sets a clear picture of where you want your organization to be in the future and where you are headed in the next 3, 5 to 10 years. By having a vision, your company is able to plan out a strategy and guide everyone on the team towards the same goal.
Having a vision helps you to define long or short term goals, and helps you and your employees in decision making during the process. A vision gives your team something to strive for and a forward-focused outcome to reach for. With a clear vision of what you and your organization want, you’ll be able to inspire your team to build for the future.
For some ideas on vision statements, check out these 17 Truly Inspiring Company Vision and Mission Statement Examples.
Values Drive behaviours and motivate your team.
Values are a set of core beliefs that are enduring, passionate, and distinctive. Values are an essential part of planning a strategy for your organization because they provide a set of guiding principles to follow and use no matter what situation you’re in or what project you tackle.
By having a set of values, you can easily map out the goals of your business as well as what your organization does and what they stand for. Additionally, having strong values can influence the attitude and behaviours of your employees while giving the company a boost in reputation and strategy by improving traits like leadership, product innovation, and greater total customer satisfaction which is a must.
A Mission, Vision, and Values are Your Foundation.
A mission, vision, and values are the groundwork of your business and are the starting points in aligning all aspects of your business with what you stand for. In our last Life Works Well Well mentor circle, we spoke to Hilda Gan about how to create your mission, vision, and values. Hilda says that the mission, vision, and values are the foundation of your company and shouldn’t be thought of as a “dirty word” or something taboo, but should be embraced and talked about.
“Instead, think about: this is my company, this is my creation. Why did I create it, what does it stand for? That’s creating a mission, vision, and values for you, your company, and the reason you do that. It’s your foundation - having a mission, vision and values give you that clear direction so you’re not veering off here and there.”
By being able to live your mission, vision, and values, your organization will excel and you’ll be able to stay on track with what you want now and in the future.
Creating a clear mission, vision, and values is not only fundamental to drive your organization in the right direction, but also a great starting point for realizing what your organization stands for and how to motivate your employees and give them a sense of purpose.
With a strong sense of purpose along with a great mission, vision, and values, your business and employees will be able to reach their full potential and make the work you do more fulfilling to all.
For the full conversation with Hilda Gan, check out our YouTube page.
If you’d like help reviewing or creating your mission, vision, and values, book a consultation with us here and make 2021 a year that drives growth.