As the Group CEO of Assupol, I have had the privilege of leading an organisation that places ethics and integrity at the heart of its operations. Throughout my journey in the insurance industry, I have learnt invaluable lessons about the significance of ethical leadership, particularly in the South African context.
In this article, I want to share my insights and experiences on how ethical leadership has been a driving force behind any company’s success and how it can shape the future of the insurance industry.
1. Leading by example
For me, ethical leadership starts with leading by example. The actions of leaders speak louder than words. As a leader, I understand the responsibility I have in setting the ethical tone for the entire organisation. By demonstrating a commitment to high moral and professional standards, I inspire our employees to uphold the same principles in their daily work.
2. Transparency and accountability
Transparency and accountability are essential pillars of ethical leadership. I have always advocated for an open and transparent work environment where decisions are made with clarity and fairness. Moreover, it is crucial to hold ourselves and our teams accountable for our actions. Embracing accountability fosters trust and credibility, internally among our employees and externally with our valued clients.
3. Customer-centric approach
In the insurance industry, our primary focus is on our customers. An ethical leader must put customers first and prioritise their well-being. At Assupol, our customer-centric approach goes beyond offering competitive products; it involves treating our policyholders with respect, providing clear communication, and offering empathetic service. Placing customers at the centre of our operations ensures that our growth is built on a foundation of trust and care for those we serve.
4. Embracing diversity and inclusion
Diversity and inclusion are vital aspects of ethical leadership. I have always recognised the value of different perspectives and experiences within our organisation. By embracing diversity at all levels, we create an inclusive work culture where every employee feels valued and empowered to contribute their unique insights. This commitment to diversity leads to a more engaged and high-performing team.
5. Social responsibility and sustainability
As an ethical leader, I believe in the importance of corporate social responsibility and sustainable business practices. A leader must strive to positively impact their community and the environment. The commitment to social responsibility goes beyond meeting regulatory requirements; it should reflect a genuine desire to make a meaningful difference in the lives of your stakeholders.
6. Upholding regulatory compliance
In the insurance industry, regulatory compliance is of utmost importance. Ethical leaders prioritise upholding legal requirements to maintain the trust of their clients and stakeholders. The financial services sector is one of the most highly regulated industries, leaders have to operate ethically and responsibly within the bounds of the law, ensuring that their clients can have confidence in their operations.
7. Nurturing ethical decision-making
Ethical leaders empower their teams to make ethical decisions. I encourage open communication and discussions about ethical challenges within my organisation. By providing a safe space for employees to seek guidance and voice their concerns, we foster a culture of ethical decision-making throughout the organisation.
Ethical leaders demonstrate strong ethical principles through their words and actions. They refuse to ignore any wrongdoing, even if doing so could be advantageous for their organisations. Upholding integrity and doing what is morally correct forms the foundation of ethical leadership. The leaders serve as role models, setting a standard that the entire company can emulate.
* Mokwena-Halala is Group CEO of Assupol Holdings
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