Rest in peace, organisational values?

As corporations continue to show blatant disregard for the values they claim to espouse, it may be time to ask whether we’ve seen the last of values-led organisations, writes Ashling Withers.

Organisations are grappling with the need to respond to a tumultuous, uncertain, and changing environment – from global and local economic uncertainty, to the growing influence and impact of AI and pressures to reduce costs.

Values play a vital role in steering organisations through these challenging times. Far from words on a wall, they should set the standards organisations abide by and be the unerring guide to decision-making and action-taking.

But sadly, it seems for many big organisations, values really are just words on a wall, and we’re seeing the impact of when businesses fail to live up to the values they claim they are committed to.

Macquarie Group speaks to “integrity” – acting honestly and fairly and honouring promises and accountability, stating that the business takes responsibility for its actions. Everything it does and says is, apparently, on the record. And yet Macquarie was scathingly called out by the Australian Securities and Investments Commission (ASIC) in May for complacency and hubris for allegedly misreporting up to 1.5 billion short sale trades.

Meanwhile, the ABC called out its treatment of journalist Antoinette Lattouf as “not handled in line with our values and expectations” – falling short against its stated claims of integrity, inclusion and courage.

These are two, but I could go on – Qantas, Coles, Woolworths, and Seven Network have all been in the news for behaviours that flaunt the fundamentals of running a successful business.

Hardly surprising that Roy Morgan finds 66 per cent of Australians distrust any organisation or sector, predominantly driven by the perception that companies are too motivated by profit or commercial interests.

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Read the full article on HR Leader.

Ashling Withers is Senior Employer Brand Consultant at Principals.

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