Aetna CEO Mark Bertolini made headlines this year with the forthcoming acquisition of health care giant Humana. Under his leadership, Aetna will grow from a $30 billion company to a $125 billion company after the acquisition.
Bertolini sat down with Wharton School of Business for a candid discussion on healthcare, leadership, and his personal philosophy at work. Here are the highlights of his approach to executive leadership:
Build a Followership
Bertolini believes that leadership evolves from authentic connection to employees. He subscribes to the idea of followership, or the mutual relationship in which leaders give as much to their organizations as they receive from their communities. Bertolini describes this organic path to leadership as inherently selfless:
“The ladder to the top is in building followership, being selfless for the organization and the people you lead, and having the courage to make decisions in spite of how difficult that may be. And in doing that you come across as authentic and authenticity builds followership and creates leaders.”
Bertolini openly criticizes an executive approach that’s divorced from the workings of a company: “When leaders become too aloof and too remote and they’re surrounded by security and they live these very sheltered lives and don’t interact with the world around them, I think it’s a mistake.”
Bertolini takes the opposite tack — when he learned that some of Aetna’s lowest paid workers had to turn to government assistance to supplement their income, he raised the company’s minimum wage from $12 to $16. He has since advocated for this policy, sharing his perspective with other CEOs.
Adapt to Disrupting Markets
The healthcare industry is one of the most regulated, volatile sectors in the country. Instead of folding to a changing market, Bertolini says, “Okay, there’s a new value chain. What is it? And what is it that I do in the current value chain that has some value and can be repurposed there?”
Amid major changes, including Affordable Care Act regulations, Aetna adapted to the needs of provider systems, offering capabilities that providers “couldn’t afford to build on their own.” As more industries see disruptors challenging the status-quo, Bertolini’s approach offers an action-forward model for adapting to a tumultuous marketplace.
Think Long Term
Bertolini believes business success relies on vision. Executives with the foresight to imagine new solutions can steer companies toward higher numbers and a more beneficial trajectory for their organizations. “Because in the end, it’s not the numbers. It’s actually your ability to see the world in a very different way,” he says. Bertolini emphasizes the importance of the liberal arts education, as it informs the ability to think “beyond the numbers.”
As Aetna continues to face challenges and express concerns regarding the current healthcare climate, stay tuned for Bertolini’s next moves.