Core Values and Fundamentals: Your Company’s Gold Standard
What does your company stand for? What beliefs do you hold on to and want to be known for? Answering these questions can be challenging, but it is essential to finding the path to success. A big piece of this puzzle is establishing core values and fundamentals. Many companies fail to do this or do it poorly, which hinders their success. As we take a closer look at core values and fundamentals, we will dive deeper into how you can establish core values and communicate them in daily life, as well as how to build fundamentals from those essential core values.
What are Core Values?
A core value is a timeless belief. It is short and memorable. It can be something as simple as “work smarter”. While only two words, it gets the point across that a company uses everything within its reach to get the job done. Core Values became a cornerstone of modern business by being formally introduced in the book “Built to Last: Successful Habits of Visionary Companies”. For Turnkey, we took the best portions of this “north star approach” and adapted it with the concept of Business Fundamentals to create a unique focus on business culture.
What is a Fundamental?
A fundamental is a specific behavior that is stated as a clear “do this” action. It starts with a verb, names the trigger or situation, and defines what the expected standard is. Fundamentals are daily behaviors that make core values observable and repeatable. This foundation arguably was birthed with the Ritz-Carlton hospitality and leadership training programs.
How Do You Write Core Values?
If core values and fundamentals are going to be part of your company’s gold standard, it’s crucial to know how to write them. This process offers stability and guidance to companies.
Brainstorm Values
What does your company hold important? You need to establish these to get started. Ask employees what they think the present core values are and what they hope to see in the future. Create a list of all current and potential values to review.
Group and Eliminate
As you look at your list of values, group ones that are similar and that you agree with, and eliminate those that don’t best represent your business. When you’re done, strive to have about 10 values that truly represent your company and what it does.
Distill Core Elements
Once you have that list of 10, determine which are vital to your company’s success. However many you take from the list, be sure they are reasonable because you’ll want to put them into action.
Draft a Statement
Once you have your final set of core values established, you can draft your first core values statements. These are often bullet points or numbered lists that are easy to read. Draft a few versions so that the final product has the least language to convey the value. Keep it short and sweet.
Finalize Core Values
Review your final drafts with other employees, customers, or a focus group of upper-level management. Ask them for their options on which draft of the core values statement best represents the company. You can use this feedback to refine your statement until you have one you are satisfied with and ready to publish.
Communicate the Statement
Once you’ve done all this work, it’s time to communicate your core values to your employees and your audience. You can do this by holding training sessions or publishing the core values on the website or in a newsletter.
Live the Values
Integrate your established core values into the everyday practices of your business. Make them a part of daily business operations and ensure they are at the center of the company’s mission.
Communicating your Company’s Values
Once you have established the values, you have to communicate them to internal company stakeholders so that they can be implemented in every aspect of the business. This can be done in several ways:
Integrate Values into Processes
Join core values to specific procedures in your business. For example, if a core value is a continuous improvement, you might include a post-project meeting to discuss workflow.
Post the Values
Distribute the values in writing and shared internal communications that can be printed and posted in the office and or other workplace settings. The more employees can see these values, the more likely they are to reflect on and internalize them.
Provide Training
Providing training for all employees on what these core values are, explaining what each one means, and what the expectations are.
Communicate Values in External Communication
Share your core values on your website so that customers and clients know what they are too. This is just as important as sharing them with your employees.
Align Messaging
Be sure that internal and external messaging and communication align and reflect the core values. When employees and customers see similar messaging and language, it shows that the company lives by its core values.
Conduct Performance Reviews
Managers can conduct performance reviews with each employee to discuss how employees are currently upholding their core values and what they can do better moving forward. This will help them to integrate core values into their work life.
Bringing Core Values to Life
After you have established and communicated your core values, you want to bring them to life in your daily work practices. Here’s how you can do that:
Modeling
Company leaders should model core values in their daily work. If employees see them doing so, they’ll have an example to follow.
Hiring
Human resources representatives can structure hiring processes around core values. They can create applications that ask candidates to reflect on the company’s core values to see if the candidate would be a good fit. The same can be done during the interview process.
Onboarding
New hires can receive comprehensive training about core values right away. This way, they can ask questions and see how they can incorporate them in their daily work life.
Development
Employees can receive development training about core values and regular interviews. Perhaps every 3 months, they receive training that is specific to a department or other work aspect.
Feedback
Give feedback during reviews to let employees know what they’re doing well regarding core values and what needs improvement. By providing concrete examples, you can help them to increase their integration of core values on the job.
Recognition
Recognize employees who regularly implement and embody the company’s core values. Showing that you respect and appreciate them goes a long way.
How to Build Fundamentals from Core Values
Core values are just one piece of the puzzle that comprises your company’s gold standard. The other is fundamentals. You can build fundamentals from core values in 14 different phases. While it may seem like a lot, the results are well worth the effort.
Align on Purpose & Boundaries
Fundamentals are daily behaviors that make a core value observable, coachable, and repeatable. Make sure they are specific enough to get done in a reasonable amount of time.
Outcomes of this phase: a one-paragraph purpose statement, three guardrail rules saved in your documentation, and a named owner for the overall system.
Translate Values into Observable Intent
Look at each core value and describe how it looks when it is visible in everyday work. Weave in plain language and capture the intent as short descriptions of outcomes rather than opinions. These are the bridge between belief and behavior and will lead to actions that serve the value.
Outcomes of this phase: a set of intent statements, one per core value, each limited to a few sentences that describe visible outcomes.
Map the Common Situations Where the Value is Tested
List the recurring moments in your workflow where people feel tension, make tradeoffs, or must choose speed over certainty. You want to find triggers that call for a consistent response.
Outcomes of this phase: a situation map per value with named triggers such as a type of inbound, a handoff point, or a meeting pattern. Each trigger belongs to exactly one primary value even if it may touch others.
Brainstorm Candidate Behaviors Per Situation
Look at each situation and brainstorm very short behavior statements that start with a verb, include a trigger, and describe the standard to be met. Keep it simple. Remember, if you can’t imagine performing it in the next hour, it is not a fundamental. Outcomes of this phase: a wide set of candidate behaviors tied to specific situations under each value, captured in your working doc.
Apply the Quality Filter and Reduce
Score each candidate’s behavior with these questions:
Is it specific enough to be performed now?
Is it repeatable across roles?
Is it aligned to the intent statement for this value?
Can it be verified without debate?
Keep only the items that score yes on all four. Remove duplicates and combine near-matches. If two statements are similar, choose the one that is shorter. Avoid creating a library that no one can remember. Outcomes of this phase: a short list of vetted candidates per situation, already trimmed for clarity and repeatability.
Draft in a Standard Format
Use a simple three-part structure consisting of the trigger, the action, and the standard. Each fundamental should have a one-line verification note that describes how you will know it occurred. Outcomes of this phase: clean draft fundamentals written in the same structure and voice, each paired with a verification note.
Dry Run with Real Work
Test the draft fundamentals against last week’s work. Look at recent interactions and describe whether each fundamental would have changed a decision. If a fundamental never applies to normal work, get rid of it. Outcomes of this phase: revised wording that survived contact with reality, plus a short list of fundamentals to purge or merge.
Define Proof & Light Metrics
Formalize what proof looks like for each fundamental you have left. Choose proof that is easy to collect where work already lives. Outcomes of this phase: a proof description per fundamental and a very short metric plan for the few that matter most.
Record in a Canonical Registry
Create a single source of truth for fundamentals. Each should include the core value link, the situation trigger, the one sentence behavior, the verification note, the owner, and review cadence. Store it where people already work, not somewhere that it will be forgotten. Include version history and an effective date. Limit the total count to a number your team can recall. Outcomes of this phase: a living registry with versioning, ownership, tags for search, and a practical count that fits in one view.
Operationalize in the Calendar
Insert the fundamentals you’ve developed into moments that already exist. Use micro-rituals such as a daily callout and a monthly review of the handful with metrics. Look for other ways to reinforce fundamentals. Outcomes of this phase: a visible operating rhythm where fundamentals are referenced, practiced, and reinforced.
Train Managers to Coach the Behaviors
Provide managers with a one-page guide that mirrors the structure of the fundamentals. It should show them how to recognize the behavior and how to correct mistakes. Make this training part of manager onboarding and refresh it twice a year. Outcomes of this phase: a coaching guide per value and trained managers who can reinforce behaviors without creating friction.
Govern Changes with a Lightweight Process
Appoint a small review group that meets regularly to review usage data, audit a sample of work, evaluate proposed changes, and update the library. Outcomes of this phase: a steady cadence of review, transparent decision logs, and a library that stays small and sharp.
Communicate, Celebrate, and Retire Gracefully
When you publish or update fundamentals, communicate the why, not just what they are. Share the intent and the situations they address. When retiring a fundamental, say so clearly and update the registry. Outcomes of this phase: clear change announcements, story-driven recognition, and a tidy archive that documents evolution.
Audit for Equity and Practicality
At least once a year, audit the fundamentals to look for unintended bias, role asymmetry, and practicality in different time zones or modalities. Interview teammates and check that everyone can access proof mechanisms. Outcomes of this phase: an equity review summary and small wording adjustments that keep the library fair and usable.
Let Us Help You Find Your Company’s Core Values and Fundamentals
At Turnkey Processing, we hold our core values and fundamentals to their highest standard. Our core values, combined with our team’s unique motivation, help us to nurture an environment where the spirit of Remarkablism <™> thrives. If you want to learn how to develop your company’s core values and fundamentals, contact us today. Let us show you the path to success.
