In 2015 the G30 commissioned Oliver Wyman to produce a report regarding progress on conduct and culture in the global banking industry since the global financial crisis (Banking Conduct and Culture: A Permanent Mindset Change). The report identified key areas which required increased focus and reform — and at the top of the list was accountability. As the Banking Royal Commission in Australia showed, accountability is still very much an issue. The question that comes to mind is what does accountability actually mean — beyond the obvious notion of holding people to account for their actions? It's a question many of our clients are asking... It obviously starts with the leader — with a relentless focus on firstly being accountable for yourself and your actions, with a commitment to discovering and being the best version of yourself as a person and then as a leader. If you have a moment, I'd be very interested to know how you foster accountability in your organisation.
The Royal Commission into banking failures says culture is a problem. I disagree. The problem lies with the behaviour of people which in turn creates the culture.
The first of five in a series of conversations between Bharti and the Managing Editor for Business Propel, Charisse Gray: https://businesspropel.com.au/dashboard/strategy/strategy/articles/why-you-should-be-a-truly-global-company.
As we come to the end of another year, I want to give you a gift — something quite unexpected that I learned this year in two quite different, but emotionally charged events: the marriage of my daughter and the death of my mother. As I have shared this story with others, they have encouraged me to share it more widely.
Firstly, my daughter’s wedding. This was, of course, a day of great celebration. I struggled keeping it together as I walked her down the aisle, and later during my speech, being overcome with love for my (only) daughter and the woman she has become. It was a wonderful day for all involved.
Following the wedding I took a week off, expecting to need a rest after all the activity. This was the case, but an unexpected benefit that proved to be a great delight was the opportunity to ‘relive’ the happy memories as they arose and were remembered. Every day new photos emerged on Facebook, people sent random text messages … The joy of the wedding extended beyond the wedding day.
One month later my mother was diagnosed with terminal cancer, and given a very short time to live, after enjoying a long, healthy and happy life. We had numerous opportunities in her remaining eight peaceful weeks to laugh together, cry together, and say the things that really mattered. The final weeks were a time of grace and blessing.
I realised however, that her death would hit me in unexpected ways, and so (learning from the emotional experience after my daughter’s wedding) asked Jenny — my miracle working assistant — to be ready to clear my diary for a week the moment my mother passed away, which is what she did. I wanted to be free and available to be fully present to any emotion that emerged. And they did. Grief crept up on me at the strangest moments. A thought. A memory. A phone call that would not be answered. Sometimes a sadness. An emptiness. An overwhelming grief.
I had no model for how to grieve. I have not been a close observer of how others grieve.
I have observed clients and close friends lose their loved ones. Few of them knew how to grieve.
And one death does not make one an expert.
But here’s what I learnt, and is my gift for you at Christmas.
When you have those moments of high emotion, whether celebrating a birth death or wedding, whether experiencing trauma or triumph — give yourself the gift of time. Be intentional about it. Set aside a week or more to be present to yourself and allow yourself to live in through and with the emotion. I am glad I did. You will be glad you do.
Enjoy Christmas and the New Year. Enjoy the gift that others bring you by their presence, and that others bring you by their memories.
Thank you for the gift you are to others, and to me.
Let’s do great things in the year ahead
In September, Anthony presented on human-centred leadership being the key to the 21st century at the 10th World Chambers Congress in Sydney. This event was attended by over 1,000 business leaders and chambers of commerce members from 100 countries. Anthony provided advanced insight into current research being carried out by the firm which identifies key distinctions between ‘butterfly’, i.e. purpose driven companies versus ‘caterpillar’ i.e. profit before purpose companies. Business leaders were especially intrigued by such a simple yet effective model of comparison, which is why you will want to get your hands on the Confidere Group’s whitepaper, once this becomes available.
Host2Transform Talks with Jessica Tangelder
Anthony guides individuals who want to apply moral leadership in business, government and society, in order to change the world in this podcast with Jessica Tangelder.
The knowledge economy is dead — or at least in terminal decline — and a new and different world is emerging. Although commentators use different terms to describe the caring, sharing, experience or emotional economy there appears to be significant agreement on two things:
· The thinking (knowledge) economy has passed its use by date
· A feeling, or touch, economy that involves people and their relationships is emerging
Nearly everyone says they love to read. However it seems obvious, as many commentators point out, that there is a decline in reading. And this is despite us having easy access to a greater range of material than any previous generation could have imagined. It’s certainly much more than I imagined when my teenage self visited our small town library after school.
Sometimes the very technology that is meant to connect us divides us. Technology is capable of doing great things. But it doesn’t want to do great things. It doesn’t want anything.”
As Apple CEO Tim Cook delivered this year’s commencement address at MIT he reminded graduates that the technologies we create and use are — and can only be — a reflection of ourselves and of our own values.
Are business ethics in decline? A recent Business Insider article suggests that is the case, at least in Australia.
32% of Australians thought tougher economic conditions and increased pressure to exceed the business bottom line tempt people to make unethical decisions. 27% of respondents said they think it’s common practice to gain contracts through bribery and 31% think Australian companies are embellishing their financial records for reporting purposes. Furthermore, “17% believe it is justified to deliberately misstate a company’s financial performance to meet financial targets.”
‘Alaska Air. Now that’s real leadership,’ I thought as I read Nikki Ekstein’s Bloomberg article, “Why Little Alaska Airlines Has the Happiest Customers in the Sky.”
I was shocked when I read reports of Donald Trump firing the (now former) FBI Director James Comey. It wasn’t the politics of it that surprised me, but the astounding lack of courtesy with which Comey was treated. I also wonder about the poor example this sets for the treatment of employees.
In his article, “Automating Work. Humanising Jobs”, Andrew Cleminson argues, “There’s nothing wrong with getting [intelligent and robotic software] to do the jobs we no longer want to do ourselves. In some cases, it’s simply better as well.”
But what happens if human beings are becoming less competent at those things where artificial intelligence is becoming more efficient?
How many times in your life have you endured meetings that lacked preparation and focus? How many times have you wondered what you, and others, were even doing around the table? Have you ever felt as if energy is being sapped from you as you listen to some inane irrelevant point?
Margarita Mayo raises a poignant question in her Harvard Business Review article: If Humble People Make the Best Leaders, Why Do We Fall for Charismatic Narcissists? It’s unlikely that people believe narcissists make good leaders. We understand (to use classical language) that narcissism is a vice and humility a virtue. And Mayo says the research confirms that humble leaders are better in the long run, both for a company’s morale and performance. But there is a conundrum because, often, “instead of following the lead of these unsung heroes, we appear hardwired to search for superheroes: over-glorifying leaders who exude charisma.”
In Sensemaking: The Power of the Humanities in the Age of the Algorithm, Christian Madsbjerg analyses our societal shift away from the humanities toward science, technology, engineering, and math (STEM). He suggests the sweeping nature of this shift is detrimental because “our fixation with STEM erodes our sensitivity to the nonlinear shifts that occur in all human behavior and dulls our ability to extract meaning from qualitative information.”
You are almost always ‘transacting’ with a machine today. Checking in for a flight at the terminal, buying groceries in the store, jumping on the metro, or withdrawing money from the bank rarely involves human interaction. Many businesses — and their customers — opt for self-service technologies in the belief that automation streamlines services and makes everything smooth and efficient.
Adam Ferrier raises a very sensible question in his Huffington Post article: If businesses are trying to ‘Humanise’, why are they doing it with robots?
“Humanising” has become an utter cliché, he says, as “banks talk about wanting to ‘humanise banking’, energy companies wanting to ‘humanise energy’, telcos wanting to ‘humanise telcos’, and of course insurance giants talk of ‘humanising insurance’.”
Millions have seen and shared the clip of Professor Robert Kelly’s children entering the room in which he was doing a live television interview.
Do you remember bringing your children to work so they could see where ‘mummy’ or ‘daddy’ worked? While you did your best to maintain focus in meetings and activities, the reality is children can be a distraction at work. And that is as it should be, serving as a gentle reminder that work is but one aspect of our life, and that family ultimately matters more.