Defining your company’s mission, vision, and values

Building and leading a team that perfectly exemplifies your financial institution’s mission, vision, and values starts with defining your mission, vision, and values. These components are critical for any business endeavor, as they will come to define its ultimate purpose, drive business goals, and create room for your corporate culture to develop and evolve. Getting these down on paper will help your leadership to recruit and hire the right people, secure lasting customer relationships, navigate through hard times, and build a solid foundation of values and principles that can help guide your institution’s future, no matter what comes.

Clearly define your vision and mission statement

Organizations with effective teams can build a solid foundation for success with a well-defined mission statement and a clear vision for the future. Leadership is responsible for implementing and ensuring employee buy-in to the fundamental principles, goals, and values that are laid out in the mission statement. Employees who become attached to the vision and believe they are making a difference are more likely to remain loyal and committed to your financial institution.

It’s important to note that over time, your institution will change and evolve. You may experience dramatic growth or reduction in the number of workers you employ, go through a merger or acquisition, have a product line that becomes stale or obsolete, or change how you operate for regulatory reasons. No one can tell the future with 100% accuracy, but as the saying goes, “change is the only constant.”

 

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