Getting What We Value: Inspiration for the New Year from Mark Carney
Sammy Rubin applies the lessons learnt from Mark Carney's Reith Lectures to YuLife and shares how value-driven companies will thrive in future.
Sammy Rubin - 6 January 2021
Using what we value to guide us in 2021
At YuLife, we have a big vision for this year: to protect and inspire many lives. I was motivated to think of how we can manifest what’s most valuable to us and deliver on this goal when listening to the most recent Reith lectures, where former Bank of England Governor Mark Carney gave a talk on ‘how we get what we value.’
In his lecture, Carney encouraged the audience to think about what means the most to us and shared that, in both our individual and collective lives, getting what we value lies in where we focus our attention and energy. He also discussed the three crises in recent history that have inspired a ‘crisis of value’.
The Three Crises of Value
How have these crises driven us to look at the world and our mission differently?
- The credit crisis - The credit crisis of 2007 to 2008 really highlighted how companies were prioritising financial values over human values and showed us that businesses can do things differently to benefit others.
- The COVID-19 crisis - The current pandemic has caused a lot of fear and anxiety, but it has also taught us to prioritise our wellbeing and productivity in the face of adversity.
- The climate crisis - Climate change has been brought to the forefront that we need to look after more than just ourselves; we need to benefit the world.
In both the Reith lecture and his book, Value(s): Building a Better World for All, Carney’s main message is that we need to prioritise human values above financial values, although it’s often prioritised the other way around.
The value-driven company of the future
Mark Carney said that the companies of the future are ones that can combine purpose with profits. In this coming year, sustainable businesses won’t just speak on their values but truly deliver on them, and not just prioritise profits, but consider the big picture. These are the companies that will make an impact.
How is YuLife’s mission aligned to human values?
YuLife’s mission is to be a company that is driven by a human purpose. We understand that life insurance can drive more value every day, beyond just having a document you put in a drawer and forget about. We want to make a difference by engaging employees and inspiring people to live their best lives.YuLife aims to turn financial services on its head, and put the life back into life insurance.
Our goal to protect one million lives can be achieved as a team. Self-actualisation doesn't come from one or two people, but through everybody bringing their best selves. We need to prioritise all the values, as well as the financial values and we bring it all together. As we go into the new year, we need to make sure we're looking after ourselves and our own wellbeing.
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Sammy Rubin is the Founder & CEO of YuLife, a life insurance company that strives to offer effective life cover and improve the health and overall wellbeing of its users.