them developing over the next five years. I feel that if I am successful in helping them discover how to think for themselves, to question the norm, I could leave a great legacy.”
There are some challenges in the
present-day business environment that Otto highlights. Firstly he mentions his view on complicatedness and complexity: “Experts deal with complicated issues. You need to stay abreast of advances in business practices and developments in technology. However, complexity is about keeping many balls in the air at the same time; things such as work / life balance and personal happiness.”
Next Otto remarks on regulations being rife
within the insurance industry. He expressed that the pendulum has swung from too little in the past to the current overregulation, which can hinder business. But he maintains that, a focus on delivering on targets such as quality and retention of business and the management of profitability are equally important as being compliant.
A third challenge is the difference in the workforce if compared to 20 years ago. Otto and MiWay have embraced the creativeness and informedness of their younger staff complement. He feels that the challenge is to keep this section of the workforce interested in order to retain them as employees.
“Yes, they live their lives differently to an X or Baby Boomer generation person and they want to try out different careers. And if they want to move on after only one year with MiWay, I want them to go with my blessing and the hope that while they were employed here, they experienced some growth towards reaching their potential and fulfilment.
I want to reduce it to one word: ‘happiness’. Most people have to work. But people who reach their potential are also successful and happy in what they do. We have such a sense of happiness here. Winning these awards has been splendid, but what is even more rewarding is that we reached critical mass in our 4th year of trading and we have delivered 3 times the expected return to our shareholders. This is what our culture is about. I ask each new staff member during the on-boarding programme why they do what they do. I understand why I do what I do and if I work every day towards fulfilling my own potential I can, in the process, hopefully add value, create jobs and effectively lead this organisation and its more than 900 staff members,” Otto concluded.
46 Management Today | April 2012
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