NEOVALUE reestablished the ‘principle’ in 2022. NEOVALUE is determined and acted on the same principle. Principles do not shake the organization. NEOVALUE’s principles fully contain the DNA of innovation that has been engraved in redefining the real estate industry as a lifestyle developer for the past 17 years.
There are two main principles of NEOVALUE It is the “Organizational Culture Principle” principle that contains what NEOVALUE wants from members and promises to members, and the “Business Principle” that is the standard for NEOVALUE to carry out business, create and brand products. Chairman Ji-ho Son declared the 2022 version of the principle in front of all employees.
What’s the difference in Neo-Value principles? First, I introduce the organizational culture principle. NEOVALUEs organizational and cultural principles are divided into the field of △ company’s commitment △ work method, which is △ NEOVALUE. Let’s take a look at it one by one, using CEO Son’s words. Below is a summary of Chairman Son’s presentation.
NEOVALUE PEOPLE① CUSTOMER STRAIGHTENING
I think it's 'why' in terms of customer value. From the customer's point of view, they persist in thinking about what is really valuable and whether there is a better way than now. We're just being nice to customers."
NEOVALUE is serious about creating ‘customer value’. Paying attention to the customer and thinking ‘why’ from the customer’s point of view. That’s the starting point for all Neo People. Creative ideas never come to mind suddenly. It comes out when you persistently think, think, and get immersed in it. That’s why you should always be looking for customer value.
NEOVALUE PEOPLE ②Passion and responsibility (Entry Level)
"Only those who are proud and affectionate and passionate about what we do, who are self-directed and responsible for the process and results, can become NEOVALUE people."
I can’t do what someone tells me to do for a long time. If you know the value of what we do and have pride and affection, you get passion. There is no beating the person who enjoys it. But you can’t be passionate every moment. There will be times when you’re tired. In that case, responsibility is needed. “Who else would do it if it wasn’t me?” Neoin becomes one with passion and responsibility.
NEOVALUE PEOPLE ③ Competence and Attitude
Through the attitude of accepting any situation and change as an opportunity for growth (growth mindset), our members grow into professionals with job competence. Through the growth of all members, we innovate."
I think people with a ‘growth mindset’ can grow as they try. People with a growth mindset have different results when they are in the same situation. We’ll see every change as an opportunity for growth. If the growth mindset is well equipped, you will not be afraid of challenges and will be responsible for any stimulus. I often meet people who want to quit to change. It’s very unfortunate. Don’t leave and stay and make a difference. That’s what NEOVALUE wants.
So NEOVALUE looks at the attitude. Performance is not something that individuals produce. Individuals cultivate competence, and performance is what organizations produce. We evaluate the job competency considering the attitude, professionalism, initiative, and growth speed to be sincere in teamwork with passion, responsibility, and growth mindset rather than performance.
NEOVALUE PEOPLE ④ Leadership and Followership
Leaders should be the main players of innovation for sustainable growth and the leaders of organizational culture. Followers who will become leaders in the future are more active in organizational and cultural activities as leaders."
The NEOVALUE definitely needs leadership to reach its destination. There are four kinds of leadership that NEOVALUE wants. It is a “role model” that leads organizational culture and is the subject of innovation, “coach” that discovers, fosters talent and delegates authority to make decisions, “care” that builds teamwork with trust and confidence in members, and “future-oriented” qualities that can present the right vision for the future. Followership following these leaders is just as important. NEOVALUE’s acceptance of new people or fostering members will all be within these standards.
Company commitment ① Make it together and grow together
"NEOVALUE provides members with the opportunity to take the initiative in their work and helps them grow by making the most of their own capabilities."
The best gift a company can give its members is to “make them think what we do is valuable.” Only when the members themselves think that they are “doing something worthwhile” can they take the lead in their work and reach growth by showing their capabilities to the fullest. That’s the most important part of an individual’s self-realization. NEOVALUE promises to build with all members and grow together.
Company Commitment ② A happy member
"Only those who have experienced a happy lifestyle can suggest a happy lifestyle. NEOVALUE provides work-life harmony, a good working environment, various welfare and growth support programs for the happiness of its members."
What the company can do for the happiness of its members is to ensure a ‘good working environment’. Having a good working environment, ensuring opportunities to experience various lifestyles, providing educational programs for growth, and solidifying welfare for a rich life. It’s all a measure for the happiness of the Neo people. These gifts will be better in the future. We will make it the best in the industry and the best in Korea.
Company Commitment ③ faith and respect
"In NEOVALUE, we become strong supporters of each other. What makes endless challenges and new attempts possible is trust and respect for each other."
If you don’t have faith and respect, you’re buried in competition. We have to compete with the outside world, but how hard it must be if competition overheats inside. It is necessary to be a strong supporter who can trust and fight each other. If you have passion and responsibility, faith and respect will naturally follow. The company develops as everyone in the organization feels a sense of accomplishment, not just one achievement. We have to work together to make a bigger pie.
Company Commitment ④ Compassion and The best treatment
We acknowledge not only the performance but also the efforts and positive changes we have shown in our work. The best treatment is given to the achievements achieved, creating a company where the best talent comes."
There’s no reason for the best talent to remain if you don’t give the best treatment. This is why NEOVALUE aims for the best salary, performance-based bonuses, incentives, and the best working environment and welfare system. We hope for a virtuous cycle in which the best talent makes the best performance and rewards the best.
The way one works ① Self-directed Execution
"If we sympathize with each other (why) why we do this, the person in charge will seek what (what) and how (how). Through delegation of authority based on Why, NeoValue members work and grow self-directed."
Growth requires self-directed execution of members. But you shouldn’t do your own thing. There is no confusion only when the authority is delegated based on the minimum standard. The reference point is in Why, What, and How. The company’s vision becomes “the reason for doing this,” and it is necessary to find “what to do” and “how to achieve” tasks to achieve that goal. If these principles are established, self-directed implementation is possible.
The way one works ② Substance rather than form
"Focus on the ultimate purpose of the work and the substance that can achieve that purpose without leaning toward the form of the work. The cost is also reasonably used based on the purpose and substance of the work."
The company eventually decides where to put the limited goods. Each time, the criterion for decision-making should be ‘achievement of purpose’. You have to think and think about whether spending money on this method is the only way to achieve your goal. We need to focus on substance rather than form and find a way.
Take Lifestyle City Lab (LCL) as an example. LCL is, after all, a project designed to recruit talented people. In the past, I spent tens of millions of won on newspaper advertisements to hire new employees, but the talent I wanted didn’t apply. So I started running a project internship to create contact points with the best talent and create a talent pool. It actually led to the recruitment of talented people. However, as I did it, I focused on showing my practical skills and there was a problem that competition between interns became fierce. Students are also customers, but NeoValue’s purpose of “focusing on customer value” has been shaken. So, it is LCL that is complemented by the direction of focusing on the growth of participants rather than the results.
The way one works ③ horizontal communication
"In our company, we can express our opinions regardless of position/field, and we respect and listen to different opinions. Horizontal communication promotes collaboration among members and maximizes the organization's potential."
Communication is important for various people to get together and collaborate. But there is necessarily a vertical relationship in the company. In a vertical relationship, a proper conversation cannot take place. So NEOVALUE simplified the ranks. Senior-Manager-PL-Executive. The position can be taken by the person who will best perform the task at that time. A position is not a concept of promotion or status, it’s just a role. The authority to make decisions is in the position, but communication should be free regardless of position or position.
The way one works ④ Core & Compact
"Include the core that is essential for reporting, meeting, and communication, and boldly eliminate unnecessary things (Compact).”
As long as the core is well contained, there is no need for unnecessary stuff. That way, we can focus on the essence, help lead execution, and save each other time.
In the end, NEOVALUE can trust and respect each other when there is a premise that NEO people with the same purpose gather and fulfill their passion and responsibility. Based on this belief, we communicate and collaborate horizontally and create organizational achievements.
These principles mean nothing if they exist only in writing. It should be the basis and drive for decision making in real life. I hope that various ideas and opinions based on principles can be shared and discussed healthily in us. Of course, the NEOVALUE principle is not a complete version. Let’s continue to supplement the deficiencies by collecting opinions on a yearly basis.