Most of us aren’t sailors, but nautical metaphors have seeped into our discussions of how to weather the economic storm in which we live and work. How many times have we heard the term “bail out” in recent months? Even those companies that remain prosperous have all hands on deck to batten down the hatches and keep an eye on the horizon.

For the past year my work has focused on making the business case for great corporate cultures in Michigan. Of the many business leaders I have worked with I have yet to find anyone who disagrees that a strong, values-based corporate culture is vital to business success.

But more and more of my conversations have included the phrase “these challenging economic times.” For example, “How can we keep focusing on corporate culture during these challenging economic times?” along with “I have to announce another round of employee layoffs next month. How can I talk about our corporate values as I’m handing out pink slips?”

I say, “How can you not?”
It’s easier to live corporate values when times are great, but as we weather this economic “perfect storm” some companies jettison the values overboard, while others see their value as the compass that keeps them on course.
Shipbuilders will tell you that well-designed, stable ships stay upright in stormy seas. Captains will tell you that sailors working and rowing together saves ships.

Corporate values are what strong ships are made of and corporate culture is what gives sailors the courage to work together in any weather.

The research study behind the book Built to Last showed a single factor among those companies that have been top performers in their industry for decades or more was a set of clear values that were consistently used to run the business. These values are so well defined and implemented that they give every employee a common bond and shared purpose beyond a paycheck.

Values? But isn’t corporate culture about stuff? When we read profiles about the best places to work, they don’t often mention values. Instead, they write about upscale benefits like concierge services, manicures and massages. We swoon as we hear that every employee’s child gets four years of tuition at the college of his or her choice and that an entire staff was whisked off to Aruba to celebrate the ten-year anniversary.

Benefits are not a company’s corporate culture. Benefits come and go. Even Google has ended its legendary free cafeteria service. That doesn’t mean that Google is any less of a great place to work than before. Google’s culture is a well-built ship. It stays afloat based on values, not benefits.

It has never been more important for company leaders to ensure that they are living their corporate values and embedding them in their culture. It is easy to live your values during prosperous times, but it is during times like these that business leaders learn how deep those values truly run.

Strip away the stuff, look past the benefits and check for leaks in your corporate values. Those values can help guide you not just in growth cycles, but also when you must make the most difficult decisions about your business, your customers and your employees.

Consider some of the universal value themes:

• Integrity: Are you committed to doing right by people, even when their future with your company may be uncertain? Are you helping them prepare for that uncertainty?

• Trust: Are you worthy of the trust that you expect of your employees?

• Communication: Are you sharing information in a timely way and giving employees the opportunity to provide feedback about their fears, concerns and ideas?

• Honesty: Are you being as truthful as possible with all of your stakeholders? If you aren’t able to share information about an issue, are you letting people know the reason and when you will be able to tell them more?

• Respect: Are you living by the Golden Rule? Are you acknowledging that great ideas and great leaders may spring from any part of your organization?

Corporate culture is built from a framework of values, not from benefits. Values are the guiding force of every business. They determine how you will treat people in good times and bad, every day of every year. Like a ship weathering a storm,well-built values provide direction, strength and buoyancy, and they provide the map for a corporate culture that gives every member of the crew the courage and energy to pull together toward the next destination

		Bob Metzger is program director for Michigan’s Next Great Companies, a movement committed to helping Michigan employers create great corporate cultures that attract and retain the finest workforce in the world.