By Zahn Alimbay — Jun 15, 2024

What Compliance Leaders Can Learn from Miss Taylor Swift?

Last Saturday, I was among the lucky ones who got a chance to attend Taylor Swift's Eras Tour concert in Edinburgh. Needless to say, it was a show like no other. The atmosphere, energy, and emotions among the 73,000 attendees on that Saturday night were just incredible.

Undoubtedly, she has a great talent and, with time, will take her well-deserved place among the greatest music legends. But, of course, there is more to this: her life and career path offer us lessons beyond the realm of music. Some of those are even relevant to our small world of Ethics and Compliance.

Be Business Savvy

In addition to being a talented singer, songwriter, and exceptional entertainer, Taylor Swift is one of the most influential business leaders: the economic impact of her ErasTour on the global economy, which some economists estimate can go as high as $28 Billion (that’s the “Swiftonomics” for you), the way she changed the music industry dynamic by asserting control over her own songs rights, and the way she amazed an army of followers (leadership by example, if you wish) by talking to them directly online are just a few examples of it. She even touched US Antitrust.

And here is the first lesson for us, compliance leaders: Everything we do is about business, just as the music world and everything surrounding it is. When we talk to business leaders, we should talk business, too. When a CEO considers whether to approve our annual budget request or the next visibility campaign, they balance this spend against the investment in future revenues. Investment in prevention is a business investment, too. Be strategic. ROI is an essential element of that investment decision.

Keep it personal

It is said that she is personal in her business relationships. Her business associates recount her handwritten thank-you cards and describe her memory for details about their partners and children, and building relationships rather than just business.

In compliance, personal relationships matter, too: It’s much easier to have a difficult conversation when you build rapport, and having someone who talks good about you when you are not in the room helps. This is true for building relationships with a C-Suite and Board also, if you ever need a direct line, you can take it.

Seeing Far and Close

On multiple occasions during the concert, Taylor, who stood high on the stage and could see the crowds around her quite well, would easily switch her attention from performing to fans-in-need and give short and precise instructions to her security if she noticed someone in the crowd needing help.

In the era of continuously growing demands and expectations, the ability to see the bigger picture and keep attention on what really matters is important. This is true for business leaders and compliance folks alike.

And it’s not only about the day-to-day tasks. Boards are increasingly looking at CCOs to give a broader perspective, help them see around the corner, and foresee scenarios that can play out in the mid- and long-term. It’s not only about the insights and oversight; it’s also about the foresight.

Know your stuff

That night, she performed for almost three and a half hours— 46 songs practically nonstop. Every word and every move came out just as they had been written, choreographed, and rehearsed. Yes, talent plays a role in the artist’s success, but it’s preparation and practice that makes all the difference.

These are universal truths.

When the CCO enters the board room, they are expected to know and talk about their brief: talk about the issues that are material for the business, explain not only what is being done but what impact it has on the organisation and its risk profile, the key issues directors need to know about and how are they being handled. Data is only part of the story here. They are looking to get the right level of comfort in understanding how the company deals with compliance risks. Getting your stuff right is essential. (I think it is fair to say, “I Can Do It With a Broken Heart” from the 2024 Tortured Poets Department Album tells us how she does it).

It's all about storytelling

It’s not only about the end destination but also a journey.

Taylor’s musical journey is her life journey. Her songs tell us a story of her life, her experiences, the ups and downs. Each of us can relate to one episode or another, take a note and make our own judgement. In other words, we engage.

Isn’t that exactly what we are trying to achieve with the compliance training? For the compliance message to connect, it needs to be relevant to the audience we talk to. At the end of the day, it’s about helping employees navigate ethical dilemmas and make the right decisions, about a growth mindset as much as telling the rules. Nothing can achieve it better than through situational examples, reflecting on past experiences whether those were positive or negative, and learnings.

The way we communicate is similarly important. Over the years, she has built a direct channel of communication to her listeners. Her communication is personal and engaging.

Isn’t it a great example of the “Tone” and leadership top-down messaging? Even the US DOJ chiefs noticed and acted upon it (https://www.linkedin.com/posts/zalimbay_its-taylor-swifts-world-the-government-activity-7201115011476320256-G7iV?utm_source=share&utm_medium=member_desktop).

Do you see the connection? It’s all about the “what” and the “how” of storytelling. Whether in music or in a corporate setting.

Doing the Right Thing.

And last but not least, doing the right thing. When nobody’s looking. Every time.

She is not only a savvy business leader, exceptional entertainer, and great talent but also a role model. And, unlike some corporate leaders, she “walks the talk.”

Whether it’s a Ticketmaster debacle, the whole Kanye West story, calling out double standards in the music industry, or pursuing a sexual assault case against a former radio DJ David Mueller in 2013, the message is clear – she will speak out when she sees something is wrong (her 2010 “Speak Now” should leave no doubts as to how she sees it).

I feel that she would have been a Compliance champion any organisation would die for.

What else can I add here? Giving back is also important. In Edinburgh, Taylor thanked Scottish hospitality not only with three great shows but also with a generous donation to the food charity.

Engaging with and supporting the community is a bit part of the ethical journey.

I have to acknowledge that this newsletter may have been more about Taylor Swift than compliance. But it’s Taylor’s world, after all.

Thank you for reading, and enjoy the rest of the weekend. See you next Saturday!

If you are embarking on your own compliance transformational journey and need help designing and enhancing your compliance program, get in touch with us. We are here to help!

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