A Leader Who Knows the Way
A well-known quote by John C. Maxwell is one that I strongly hold on to as I progress the leadership ladder. "A leader is one who knows the way, goes the way and shows the way."
This quote defines my philosophy on leadership and how I strive to lead my team. As an aspiring leader in insurance B2C sales, I want to be able to curate a clear path for my sales team to achieve their targets, provide a cohesive environment for them to learn, and a safe space for them to give feedback and new ideas. More importantly, I aspire to be a leader who values people in the team and leads people in the team with values.
The Dynamic of Insurance Consultants in Singapore
The number of young adults aged 21 - 30 years old, remains to be the highest age group in the Singapore insurance industry since 2010 (Monetary Authority of Singapore, 2021). It is perhaps the possibility of large commissions and incentives, that often draws in younger talents. Since sales are performance-based, success is directly correlated with effort, giving one a sense of control over their financial goal and outcome.
Due to these factors, it is common to find driven and self-starter consultants who are filled with a strong desire to succeed. In a team filled with ambitious individuals, I find that it is important to lead the team with values and knowledge. There is less need to stress discipline but instead, more emphasis should be given on curating strategies to impart the values and knowledge a consultant can provide and staying relevant to navigate the progressive landscape of the financial services industry. This must start with the leader having clarity in the goals and values the company upholds, and continuously seeking new knowledge and strategies. Thus with these needs in mind, value-based leadership and transformational leadership are strategies I strongly aim to apply in my career.
Value-Based Leadership
Throughout my years of doing sales in the insurance industry, I learned that value-based leaders achieve greater levels of performance as they identify and develop talent that is aligned with the team’s purpose and mission. In value-based leadership, there are certain traits to practice (Gleeson, 2021) in order to successfully impart the right values to the team;
Self-reflection
A leader must be able to cogitate on past decision-making, evaluate their own performance, and have the veracity to identify the reality. This will allow them to reassess their values, objectives, and identify what matters most to them as an individual and leader.
Self-confidence
While most leaders are self-assured to some extent, values-based leaders are aware that there are others who are superior to them. They are also aware of the need to grow, be accepting of change, and surround themselves with people who enhance their abilities.
Humility
Understanding that leaders are no different than those they supervise, is an attribute of a humble leader. A leader must learn to recognise the strength of each of the team members and value them.
Positive Influence
A leader radiates positive influence when they walk their talk and achieve their goals. Subordinates often walk in the footsteps of their values-driven leader, hence raising the standard of work across the team.
Transformational Leadership
When grooming consultants to create their own name in this highly competitive industry, it is imperative for me, as an aspiring leader, to provide support for them to explore their niche and ideas. Furthermore, while achieving goals and acquiring clients is exciting during good times, going through difficult times may be demoralising and difficult to march on. Hence, transformational leadership is highly needed in this area, where my transformational leadership can inspire, motivate and enable people to realise their full potential.
Looking up to Whitney Herd’s Leadership - The America’s First Self-Made Woman Billionaire
Figure 1: Whitney Herd. (Source:https://bnn.network/interviews/bumble-ceo-whitney-wolfe-herd-steps-down-lidiane-jones-to-take-the-reins/)
In the leadership and entrepreneurship scenes, Whitney Herd is one inspirational figure I look up to. As the CEO of Bumble, Whitney Herd’s leadership is centred on inclusivity, empowerment, and commitment to challenging traditional norms. In addition, she focuses on building a team culture where everyone feels valued (Miller, 2022). Herd's leadership has set a precedent for creating a workplace environment that values equality, diversity, and a cross-culturally supportive culture, all of which I aspire to achieve.
A Good Leader Must First Be A Good Follower
Over the years, I have always worked towards continuous improvement, especially on the constructive feedback received from my leaders. I am often told that I am an analytical thinker, and my strength lies in the ability to make wise decisions for the team. However, as an analytical thinker, my decision or response may at times appear to be lacking in empathy and compassion. Hence, from this MBA study, I have decided to apply certain leadership traits such as compassionate leadership, value-based leadership, and transformational leadership more effectively.
References
Monetary Authority of Singapore (2021, April 5). Reply to Parliamentary Question on Statistics on Insurance Agents. Monetary Authority of Singapore. Retrieved from: https://www.mas.gov.sg/news/parliamentary-replies/2021/reply-to-parliamentary-question-on-statistics-on-insurance-agents
Gleeson, B. (2021, July 19). 5 Attributes (And Benefits) Of Values-Based Leadership. Forbes Media LLC. Retrieved from: https://www.forbes.com/sites/brentgleeson/2021/07/19/5-attributes-and-benefits-of-values-based-leadership/?sh=80757d33d212
Miller, H. (2022, March 10). Whitney Wolfe Herd: Standing Out in a Saturated Market. Leaders.com. Retrieved from: https://leaders.com/articles/leadership/whitney-wolfe-herd/