Values as a competitive advantage
I remember LinkedIn's former CEO, Jeff Weiner, recounting the moment he and his leadership team first discussed whether to support Microsoft's proposed acquisition of LinkedIn in 2016. The very first question the LinkedIn team asked themselves was: "Would a Microsoft acquisition be consistent with one of cardinal values, 'Members First'?" The answer, obviously, was “yes.”
That meeting was a beautiful illustration of how company values can be a competitive advantage. Strong and well-defined values accelerate decision speed by clarifying the criteria that matter most. Values can also be a source of leadership leverage. They elevate and sustain energy by making employees feel connected to a deeper purpose. Finally, strong values attract the right talent. When your values are clear, consistent, and conspicuously modeled, applicants self-select based on a shared commitment to your ethical core.
The strongest competitive advantages are usually the most difficult to create. They require careful reflection and substantial investment. Values are no exception.