From country kid to the boardroom: leadership insights from Suncorp chair, Christine McLoughlin AM

Recently, I had the privilege of attending the QUT Business Leaders' Forum where Christine McLoughlin AM, Chair of Suncorp and Co-founder of the Minerva Network, shared her thoughts on the multifaceted role of today’s leader.

Having grown up in a small country town, her perspective is refreshing; she is pragmatic, a ‘doer’, and mobilises quickly.

Christine has guided numerous organisations through significant periods of change and innovation, and readily admits that the biggest leadership challenge and opportunity is about how to manage complexity.

The theme of Christine’s speech was underpinned by her firm belief that 21st Century business leaders must make the switch from saying to doing, bridging the gap between intention and action. As I reflected on her though-provoking address, several key points stood out:

1. Create pathways without defining destinations

As a fierce advocate for professional development, Christine emphasised its pivotal role in nurturing talent and fostering a thriving organisational culture.

She was emphatic that this include directly attributing paid work and time to skills development – something that, historically, organisations have not done at the right level.

She stressed that employees rightfully anticipate robust opportunities for growth and learning from their employers. In an era marked by rapid technological advancements and shifting industry dynamics, investing in the continuous development of human capital is a strategic imperative.

Employers of choice will be those that help their employees to be future fit and, in return, employers will be rewarded with a workforce that’s confident for the future and at the same time adding resource to fill the national skills gap.

2. Know when to simplify

One of the notable decisions discussed during the forum was Suncorp's strategic move to divest its banking division to ANZ. Christine reinforced the principle of simplification as the driving force behind the shift in organisational focus; becoming a ‘pure insurer’ will give Suncorp greater strength and resilience in an evolving market

She shared that, not long ago, the Australian Government was spending 97 cents of every dollar in disaster funding dealing with the aftermath of disasters, but only 3 cents to mitigate or prevent disasters.

Next to this, consider that the 2022 floods in Southeast Queensland and Northern New South Wales constituted the second largest insurance event in the world that year – a total value of $6 billion.

Suncorp’s anticipated singular focus on insurance comes at a time when there’s never been greater value of insurance to the people and communities of Australia.

While the traditional notion of business growth may be ‘more is more’, Suncorp is doing it differently. Though the sale of its banking division is yet to receive final approval from the Federal Treasurer, fortifying the core competencies of the organisation will set Suncorp in good stead for an increasingly complex and volatile global landscape.

3. Lead with empathy

During her address, Christine highlighted that the role of a leader transcends mere business considerations; today’s leaders must encompass a profound understanding of their employees.

A recurring theme of her keynote was the imperative for leaders to bridge the gap between saying and doing. Christine was clear that this means providing active support to help workers develop the new skills they need to be savvy and effective in a changing world.

She calls upon leaders to navigate the intricate web of stakeholder interests with empathy and understanding. By fostering environments where employees are engaged, productivity benefits as well.

4. Dare to be different

Christine’s career journey serves as a testament to embracing the unconventional path.

A trained lawyer, she explained the well-worn path for law students in the 80s was to apply for summer clerkships in their penultimate year as an entry point for post-degree employment. This did not fit with Christine’s yearning to see more of the world.

Instead, she sent handwritten letters to rotary clubs across the US, seeking a clerkship over the Australian summer. She reflected that somewhat ironically she ended up in chilly Minnesota, which in turn led to a mentorship with an Australian law firm back home.

Her challenging of the status quo extended to navigating the complexities of motherhood while spearheading major corporate endeavours. Christine’s story exemplifies that taking risks and having a go can be a catalyst for extraordinary achievements.

5.  If you think learning stops when you graduate, you’re wrong

Christine's final remarks reaffirmed the adage that learning is a lifelong pursuit. In an era characterised by relentless change, the notion of education culminating with graduation is now obsolete.

Leaders must embrace a mindset of continuous learning, staying attuned to emerging trends and evolving best practices. By fostering a culture of intellectual curiosity and adaptability, organisations can navigate uncertainty with confidence and resilience.

Christine’s leadership ethos is about getting in there and doing the work; she is passionate about empowering others and leading with action.

Quoted by moderator, Ellen Fanning, during the Q&A portion of the event, Glen McGrath speaks fondly of Christine as former Director of the McGrath Foundation. Of her five-year tenure, he surmises, “I probably wouldn’t want to get on the wrong side of Christine – she’s not shy, she’s a country girl.” Christine laughs, “He likes to call a spade a spade.”

I’m sure my fellow forum attendees would agree – judging by the buzz in the room when announced – that we are all eagerly anticipating the next QUT Business Leaders’ Forum in May with keynote speaker, CEO of the Brisbane 2032 Olympic and Paralympic Games Organising Committee, Cindy Hook.