How Managers Use a Corporate Value Statement to Motivate Employees : A case study of the Swedish banking sector

Abstract: The requirements of having a corporate value statement (CVS) has increased recently, this need is a result of changes in employees, customers and society. A corporate value statement is a guideline for decision-making within a company and should influence every process within it. If it does not, it could damage the company’s image, reduce managerial credibility and sow confusion among the employees. Many managers do not know how to motivate employees and this has become a big issue. It is suggested that one way of motivating employees is to create a set of values for them to follow. Therefore, the purpose of this thesis is to investigate how managers use a CVS as a tool to increase the employee’s motivation. In order to investigate how managers use CVS as a tool to motivate employees, a qualitative approach was chosen in which we included a case study on the Swedish banking sector. Information from the banks was collected through personal interviews with managers from each of the banks and analyzed using theories about CVS and motivation. We found that the CVS itself cannot motivate employees. The managers can use the CVS as a tool, but it is more important that the managers live after the values to set an example for the employees. Furthermore, it is important to break down the values stated in the CVS in order to create values that can motivate. The managers also have to give the employees own responsibility and believe in the employees in order for the employees to become motivated.