[SalesForce] Get picklist value LABEL in formula field

My question can sound trivial, but the issue below seems to be serious.
We can use TEXT(field) to get picklist value in formula field.

The issue is that this method returns API name of particular value and not label.

Does anybody know if we can obtain Label of picklist value?

Best Answer

You can use formula to convert API name back to label with case statement.

CASE(TEXT(field),
  "API 1", "Label 1",
  "API 2", "Label 2",
  "Error"
)

PS: you will need to update your formula whenever you updates pick list values.

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