There are key attributes that make an ethical leader, regardless of what industry they are in.
The word “ethical” gets thrown around a lot these days, and most of it can seem like lip service. But the truth is, ethical business leadership is directly linked to a company’s long-term success. Why? One major reason is that ethical leaders show a strong personal commitment to creating a positive company culture.
Despite the outdated stereotype that you must be hard-nosed and ruthless to succeed in business, it’s ethical leaders that actually tend to run more profitable companies. There’s a positive correlation between companies with an uplifting culture, and their employee’s productivity and job performance. Ethical leaders also inspire their team members by taking a strong stand on the issues that matter most to them, instilling a sense of purpose into the fabric of the company culture.
For example, the online trading industry is not known for being the most ethical — with new research revealing that 59% of Australians believe that trading brokers have ‘no’ or ‘limited’ ethical standards. As the director and co-founder of a trading startup that’s grown to an international trading platform, I believe there are five key qualities all business leaders should aspire to — regardless of their industry.
The qualities of an ethical leader
Create unity, not division
When everyone feels united in striving towards a common goal for the business, rather than competing, the team can function efficiently and the workflow is far more productive. Having a human touch enables you to get on the team’s level and create an environment where everyone feels equally valued and has the same opportunities for success.
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