By Rukayat Moisemhe
Mr Ituah Ighodalo, the Deputy Chairman, SIAO Partners, says building personal integrity in leaders is important to the development of ethical leadership in organisations.
Ighodalo said this on Monday in Lagos at the 2023 World Management Day Lecture organised by the Nigerian Institute of Management (NIM) with the theme: ‘Ethical Leadership: Fostering a Culture of Trust and Integrity’.
He noted that the event’s theme was well thought-out given the time and season of national development Nigeria was currently at.
Ighodalo said organisations that had ethical leadership values outperformed other firms by a wide margin in terms of revenue growth, job creation, stock price and profitability.
According to him, those without same values showed characteristics such as high employee turnover rates, lack of trust, broken promises, disrespect, unexpected financial events, among other negativities.
“The positive impact of ethical leadership in any organisation leads to reduced pressure to compromise standards, reduced misconducts, and others.
“Leaders who are personally credible and act with integrity are able to create a constructive workplace culture where employees are treated with fairness and respect.
“A culture of ethical leadership must start at the top and be seen in the conduct and activities of the organisation’s executives.
The leadership of the corporation must develop a consensus around shared values.
“This culture of integrity, in turn, will create a highly valued work environment; the corporation will operate with its focus on the long-run good of its customers, employees and investors; and, as a result of this focus, will excel,” he said.
In her remarks, Dr Christiana Atako, the President, NIM, said Management Day, one of the activities of the institute, was a platform to celebrate the ideals and tenets of the management profession.
Atako said the annual event was an opportunity to address the most important factors for growth and efficiency of the Nigerian economy such as integrity, accountability, probity, honesty, efficiency, effectiveness and dedication to duty.
She noted that in today’s complex and fast-paced business world, the ethics of the leader cannot be overstated, as ethical leadership promoted justice, transparency, accountability; setting the tone for every organisation.
“Organisations that prioritise ethics are more likely to attract and retain top talent, as employees are drawn to organisations that align with their values.
“By enforcing ethical standards consistently and fairly, ethical leaders demonstrate their commitment to integrity and build trust within their teams.
“We wish to seize this moment once more to call on the Federal Government to support this laudable initiative of the institute by recognising and declaring November 19 as Management Day in Nigeria.
“We are convinced that setting aside a day for the celebration of the management profession in Nigeria and the world over is a right step in the right direction and is more needed now than ever before.
“We will, therefore, not relent in our effort to get World/International Management Day recognised and declared by both the Federal Government and the United Nations,” she said.
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== Chinyere Joel-Nwokeoma