Your guiding principles tell Millennials and others whether they want to work for or do business with you!
To what extent are your guiding principles carried out in practice? Do they even drive employee- and business-related outcomes?
What do we stand for? Our mission / vision? Our values? Our culture? Our leadership style? What is our people strategy? Why should people come? Why should they stay?
Some companies have an expressed set of Core Values or Enduring Principles that clarify what the they stand for (or hope to stand for). These statements often represent principles that leadership would pursue regardless of business conditions, industry, etc.—that is, they represent strongly held personal convictions.
And many companies have cultures and work environments in conflict with aspects of their stated Core Beliefs or Enduring Principles. This is ultimately the root cause for many corporate ills (Turnover, Customer Dissatisfaction, Inefficiency, Low Productivity, Marketplace failures, etc.).
Some companies even lack these aspirational statements altogether, or worse, operate under leadership beliefs and management practices that actually work against sustainable business success.
Successful businesses of any size express their core values and management principles throughout leadership and focus on their subsequent deployment throughout the company.