Would you ask your building contractor why he takes the time to draw up a detailed plan if it's all in his head? Of course not. We all know that this plan will be at the heart of the construction site and will be consulted by all workers and subcontractors to build the house according to customer expectations and construction standards.
The same thinking can be applied at the company level. Defining your mission, vision, and values lays the groundwork for achieving the desired results. More than a theoretical exercise, the mission, vision, and values are the pillars on which you will base your decisions over time.
Definitions
The mission of a company is its purpose. It defines the company's main objectives: what services or products it offers, what type of clientele it caters to, and what sets it apart from its competitors. A clear, precise, and unifying mission determines the company's strategic direction.
The vision is the inspiration, what the organization would like to be, or where it would like to be in the coming years. This vision generates organizational alignment. It guides future actions towards the common goal.
The values are the foundation of the company, guiding behaviour and promoting attitudes. Consistent with the mission and vision, they define ethical principles and standards.
Goals
Once established, the mission, vision, and values enable us to act on 4 levels: to give strategic direction to the company, to facilitate decision-making, to achieve predictable results, and to facilitate communication.
To better understand this, let's reuse the house-building analogy. The plan includes the finished home’s image and all the steps and technical information needed to build it.
- The mission or direction is clear. It is a matter of constructing the building according to this blueprint.
- There's coherence between the different stages, and they will be carried out in the right order, because they have been planned. With a clear vision, you can make the right decisions to avoid chaos.
- Results are predictable. A company without a clear mission achieves results other than those hoped for.
- Employees can understand each other since they refer to the same plan. Similarly, a clearly defined mission enables effective internal and external communication.
Links to organizational culture
Organizational culture has a major impact on how the company's mission, vision and values are experienced within the company. Positive and aligned, it fosters employee commitment and reinforces their sense of belonging. Toxic, it drives them away.
What can companies do to create an organizational culture consistent with their mission, vision, and values? Among other things, they can:
- review their human resources and recruitment policies;
- communicate their values regularly;
- implement training and skills development programs;
- promote practices consistent with their mission.
A case in point
Let's take HEC Montréal as an example. Here is the specific wording of its mission, vision, and values, as published in October 2021.
Our mission: Building on our excellence in teaching and research, HEC Montréal is a French-Language institution open to the world and solidly rooted in Quebec society, that trains management leaders who make a responsible contribution to the success of organizations and to sustainable social development.
Our vision: To be a hub of management knowledge that inspires, innovates, and makes our mark worldwide thanks to:
- the quality and relevance of our teaching and research;
- our influence and engagement in the local, national and international communities;
- our human-centered, responsible and collaborative approach.
Our values: relevance, rigour, boldness, engagement, respect, and collaboration.
Links to employee engagement
Companies that succeed in integrating their mission, vision, and values into all aspects of their organization offer their employees a positive work environment. Employees are motivated to contribute to the mission, because their role is in line with their own values, and those of the organization.
With colleagues who share the same values as them, workers feel a sense of belonging, participate better as a team, and encourage each other. It's within these open, collaborative corporate cultures that employees feel fulfilled, and therefore inclined to get invested in the long term.
Is it that the mission, vision, and values have an impact on employee retention?
At Bedard Human Resources, we can help you define your mission, your vision, and your values. Contact Stéphane Pépin for more information on our HR consulting services.
