Nobility of professions is being traded for silver and gold

While the profit motive is a necessary component of a functional economic system, its overemphasis poses a grave threat to the concept of professionalism 

Despite the general acceptance of a ‘stakeholder model’ of governance replete with Corporate Social Responsibility (CSR), Environmental, Social and Governance (ESG) frameworks and Inclusion, Diversity, Equity and Access (IDEA) thinking, the modern world is still, primarily, structured around a seemingly unassailable principle of the pursuit of profit much in keeping with Milton Friedman’s assertion that “The business of business is business,” where he argued that a corporation’s sole social responsibility is to maximise profits for its shareholders while operating within the bounds of the law and basic societal ethics.

From start-ups, small and medium enterprises, multinational corporations to conglomerates, the bottom line is often presented as the ultimate measure of success and the sole purpose of existence. While a healthy profit is essential for sustainability and growth, an overemphasis on this motive has had a corrosive effect, particularly on the concept of professionalism. Professionalism, at its core, is a set of values and behaviours that transcend the mere commerciality of a transaction. It is founded on principles of expertise, ethical conduct, fiduciary trust, client-centricity, and dedication to public service. When the profit motive becomes the primary driving force, it systematically erodes these foundational pillars, leading to a decline in ethical standards, compromised service quality, and a loss of public trust. Sadly, the nobility of professions has been traded, and is being traded, for silver and gold!

The standing of a profession and its perceived value and respect within society is shaped by several key factors, most notably the exclusive knowledge and skills required, the ethical standards governing its practice, and its perceived contribution to the public good. The profession’s status in society mirrors the trust and reliance society places on its members. A fundamental driver of professional standing is exclusive control over a specialised body of knowledge. Professions like medicine, law, engineering, and accountancy require extensive, rigorous education and training. The eligibility criteria and other barriers to entry ensure that only qualified individuals with the requisite exposure can claim membership and practice. They reinforce the profession’s authority and perceived competence. The greater the complexity and difficulty of these expertise and eligibility criteria, the more elevated the profession’s status becomes, because it is anchored by a skill set that is difficult to attain.

Governmental interference in the running of professional bodies is usually non-existent or minimal and this is based on the concept of self-regulation, which is a foundational element of the social contract between a profession and society. A government grants a professional body the autonomy to govern its own members in exchange for a commitment to uphold a high standard of competence and ethical conduct. The rationale is that professionals possess a unique, specialised body of knowledge that is too complex for external bodies, such as the government, to effectively monitor and regulate. For example, a lawyer is best equipped to judge the competence of another lawyer; a doctor is most qualified to assess the standards of medical practice. By allowing professionals to set their own educational, ethical, and practice standards, society expects a professional body to ensure the quality and safety of services. This arrangement works because it is built on public trust, which the professional body must consistently maintain to justify its privileged standing. 

Public trust is the bedrock of professional standing

Equally important is a profession’s adherence to a strict code of ethics. Public trust is the bedrock of professional standing. When a profession consistently demonstrates a commitment to acting in the public’s best interest and holds its members accountable for misconduct, it builds a reputation for integrity. Conversely, ethical lapses can erode public confidence and significantly diminish a profession’s standing. The perceived morality and reliability of practitioners are just as vital as their technical skills. A profession’s standing reflects its unique expertise, unwavering ethical standards, and its perceived societal value. It is a dynamic social contract where trust is earned through application garnished with competence and integrity.

Historically, professions like medicine, law, pedagogy, et cetera were not seen as trades aimed at accumulating personal wealth. They were considered vocations, characterised by a commitment to serving public good. Professionals were social trustees, granted a monopoly on specialised knowledge in exchange for a pledge to act in the best interests of their clients and society. This implicit social contract required a degree of altruism and a willingness to prioritise the well-being of others over personal gain. Codes of conduct and professional ethics were not just guidelines. They were the very foundation of the profession’s identity and its claim to authority. 

This model stood in stark contrast to the world of commerce, which was traditionally driven by market forces and the principle of caveat emptor – let the buyer beware. Over the past century, however, the lines between these two domains have blurred. The rise of corporate structures, shareholder primacy, and the ‘financialisation’ of every sector have introduced a powerful, profit-driven dynamic into professional practice.

With professional service organisations seemingly making profit their primary motive through remuneration and incentive structures that reward professionals on revenue generated, the emphasis on ethical standards has eroded and continues to erode. This dynamic was very evident in the global financial crisis of 2008. Mortgage brokers, paid on commission, were incentivised to sell complex, high-risk subprime mortgages to clients who could not afford them. The professional duty to act in the client’s best interest was superseded by the personal profit motive, leading to a catastrophic collapse of the housing market and widespread economic hardship. 

In healthcare, the overemphasis on profit has led to pressures on doctors to meet patient quotas, recommend unnecessary procedures, or prescribe expensive brand-name drugs. The ethical mandate to “do no harm” is being replaced by a system that rewards volume over patient outcome. Similarly, in the legal profession, billed hours as a key performance indicator have incentivised lawyers to prolong cases, adding to client costs and undermining the principle of efficient and just representation. External Auditors are ever willing to remain silent, and turn a blind eye, on the financial and accounting malfeasance of clients in fear of losing their business and a diminution in the profits of the partnership. Engineers are prepared to certify the structural efficacy of a building because the basis of reward is the fees generated. In all these cases, the nobility of the profession is sacrificed at the altar of the bottom line. The list is endless.

Then, there is the ethical dilemma experienced by professionals employed in business! A duty of loyalty is implied in all employment relationships. It requires employees to act in the best interests of their employers, refrain from competing, protect confidential information, avoid conflicts of interest, and not misuse company resources. Notwithstanding the existence of such a duty of loyalty to their employers, the fiduciary trust inherent in public-professional relationships licenses professional employees to desist from carrying out their masters’ bidding in situations where such fiduciary trust is compromised or endangered.

A professional must never be a mindless appendage but must be a moral agent with a duty that extends far beyond a paycheck. When an employer’s command veers into the territory of public harm, whether through environmental negligence, deceptive practices, or unsafe products, the blind obedience of a professional amounts to complicity. It is here that many professionals face their litmus test. To choose silence is to betray the society they belong to, while to oppose and speak out is to risk their career. The belief that one must always obey an employer’s commands is grossly untrue. If allowed to hold, it will dilute the very essence of professionalism and transform a vocation from a service into a source of societal detriment.

Let it be very clear. The foremost allegiance of a professional is not to his/her employer but to the public and the collective well-being of society. It demands the courage to stand against injustice and unethical behaviour whatever the cost. I lost my first job in Zambia when I refused to follow my employer’s instruction to maintain two books of accounts, one for the proprietor and one for the taxman. Thankfully, it resulted in my employment with Anglo American Corporation (Central Africa) Limited, a relationship that spanned a period of 25 years. God does act in mysterious ways!

Blind loyalty to employers

In a world where professional values, ethics and integrity have given way to gold and silver, it is sad to note the blind loyalty of professionals to their employers with scant regard for what is right and what is wrong. This misbegotten allegiance is particularly dangerous because it simplifies a complex moral equation. It paves the way to a path of least resistance where obeying a boss, fulfilling a quota, maximising profit et cetera, is the only valid professional course. But what happens when the boss’s directive is ethically dubious? What if the quota is met through deceitful practices? What if maximising profit comes at the cost of public safety, environmental integrity, or social justice? Professionals must rise above a pure employer-only loyalty. A true professional’s allegiance is not to a logo or a stock price; it is to the profession itself and, by extension, to the public that the profession serves.

A professional’s true allegiance is to a set of ethical standards, to a body of knowledge, and to the well-being of the wider community. Two examples will help to illuminate. Some architects, and engineers, refuse to compromise on structural integrity, even when pressured to lower costs. Their loyalty is not just to the construction company; it is to the principles of safe and sustainable design, and to the people who will one day live or work in that building. Some journalists are committed to publishing the truth, despite pressure from higher-ups. Their loyalty is to the public’s right to know, to the integrity of their craft, and to the principles of transparency and accountability.

This is not an argument against being a good employee. Of course, professionalism involves diligence, hard work, and contributing positively to your organisation. But this allegiance is a means to an end, not the end itself. The end is the public good, and the means is the diligent application of one’s professional skills. The profession provides the framework, the ethical compass, and the standards of excellence that guide a professional’s actions. When an organisation’s interests diverge from these standards, a professional’s duty must always be to the higher calling.

To reclaim the dignity and purpose of our professions, we must, as individuals, constantly challenge the mistaken belief of unquestioned employer loyalty. We must redefine professionalism as a commitment to public trust. Our allegiance must be to the principles that govern our craft and to the society we are meant to uplift. It is time to remember that a career is more than a job, and a profession is more than a paycheck. It is a promise, a promise to serve, to protect, and to uphold the greater good. This shift in perspective is not just an ethical essential; it is a moral imperative for rebuilding trust and ensuring that our professional work truly counts.

When professionals are judged and rewarded primarily on their ability to generate revenue, the temptation to cut ethical corners becomes immense. Beyond ethical compromises, a singular focus on profit inevitably compromises the quality of service and the nature of client relationships. Professionalism is about more than just delivering a service; it is about providing personalised, high-quality solutions that are tailored to the individual’s needs. When profit is the key driver, this model is often replaced by a focus on cost-cutting and lowered standards. In time-limited goods this can manifest as planned obsolescence, where products are intentionally designed to fail after a certain period to drive repeat sales. The professional duty to build durable, reliable products is traded for a continuous revenue stream. 

In customer service, professionals are often reduced to following rigid, impersonal scripts designed to minimise call times rather than truly solving complex customer problems. The emphasis is on transactional efficiency, not on building the long-term, trust-based relationships that are the hallmark of a professional-client bond. As artificial intelligence and machine learning gain ground, the client becomes a data point, a revenue source to be optimised, rather than a person with unique needs and concerns. This commodification of professional services devalues the expertise and empathy that define a professional’s role.

Profit-first culture

A profit-first culture is leading to a de-emphasis on the very knowledge base that gives professions their authority. Professions are built on a foundation of continuous learning, research, and development. When financial metrics dominate decision-making, long-term investments in training, research, and innovation are often the first to be cut in favour of short-term optics. This can lead to a stagnation of professional knowledge and a skills gap, as the profession fails to keep pace with new challenges and emerging needs. A professional services firm may, for instance, be reluctant to invest in advanced training for its employees if it does not see an immediate return on investment. This short-sighted approach can leave the organisation ill-equipped to handle complex future problems, diminishing its value to society. The expertise that once served as a barrier to entry, and the basis for public trust, begins to erode from within.

Finally, the psychological toll on professionals cannot be overstated. When an individual’s professional identity is rooted in a code of ethics and a dedication to service, and they are then forced to operate within a system that systematically rewards behaviour contrary to those principles, a profound internal conflict arises. This cognitive dissonance can lead to burnout, moral injury, and a pervasive sense of disillusionment. Professionals may feel like they are betraying their values, their clients, and themselves. This stress can lead to a decline in mental health and a high rate of turnover in professions that were once considered lifelong vocations. The sense of purpose and fulfilment that comes from serving others is replaced by the hollow pursuit of arbitrary targets, turning a once-meaningful career into just another job.

In conclusion, while the profit motive is a necessary component of a functional economic system, its overemphasis poses a grave threat to the concept of professionalism. By systematically eroding ethical standards, compromising service quality, undermining professional autonomy, devaluing expertise, and inflicting a psychological toll on practitioners, an obsessive focus on the bottom line corrupts the core tenets of professional practice. A return to a healthier balance requires a renewed commitment to the foundational principles of service, integrity, and public trust. This can be achieved through stronger professional codes of conduct, fostering organisational cultures that prioritise ethical leadership, and re-educating both professionals and the public on the inherent value of a service-oriented approach. Professionalism and profit are not mutually exclusive, but for them to coexist harmoniously, the former must never be considered a mere tool for achieving the latter. The future of a just and functioning society depends on a vigilant defence of professional values against the relentless, and often destructive, forces of pure commercialism.

(The writer is currently, a Leadership Coach, Mentor and Consultant and boasts over 50+ years of experience in very senior positions in the corporate world – local and overseas. www.ronniepeiris.com.)