How did Silicon Valley Bank’s values factor into their operation?
What can you do to make the company values “real”?
Here is the information from the top of the Silicon Valley Bank (SVB) web page about their values:
“Living Our Values
SVB’s values guide our actions, from our approach to supporting small businesses and community engagement to our ESG reporting.
Advancing innovation for a better world
SVB is dedicated to the success of the innovation economy. More than ever, we need to be agents of change by taking care of what matters. We do this by helping companies and partners innovate, thrive and create jobs; providing a culture where our employees can learn and grow; and, together with our partners and employees, building toward a more just world. Our dedication to supporting evolving technologies enables us to contribute to creating a more equitable and sustainable, low-carbon, net-zero emissions economy.
See our latest Environmental, Social and Governance (ESG) report to learn more.
SVB’s Values
We start with empathy for others
We speak and act with integrity
We embrace diverse perspectives
We take responsibility
We keep learning and improving”
[remaining about 2/3 of the page is about ESG]
What do you think about SVB’s values?
Are they:
- Meaningful?
- Esteeming and respectful?
- Practical and useful?
Based on the diagram below from Michael O’Connor, can SVB’s values be used to make choices in day-to-day activity and evaluate results?
On first read, the values seem esteeming/respectful.
Meaningful, practical, useful … maybe not so much.
The SVB values sound good but appear to fall short from a practical and ultimately meaningful perspective. This is not uncommon. Many company values are often stated as a list of single words.
To be effective, company values should be:
- Prioritized. If there is a conflict between values for a decision or action, which would you follow?
- Defined. How does the company define the word or phrase? Values should align behavior. If there is no definition, the values will be defined by individuals and likely vary along with behavior. You would be surprised by how definitions, even for seemingly common words like “integrity,” will vary across people 😉
- Illustrated. Each value should have a short list of key processes by which the value will be achieved.
It’s also worth noting that there is no explicit SVB “mission.” There are versions of what might be taken as a mission statement in SVB’s website and annual report, but nothing outright labeled as “mission.”
The mission, values, and vision are the foundations. If these aren’t clear, then it’s hard for people in the company to be clear and aligned.
Values should also be incorporated in any performance management system.
👉 Need help with making your company values meaningful, practical, and useful? Contact me to discuss how …
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