In boardrooms around the world, a silent cost is eating into business performance. It’s not market disruption, tech upheaval, or economic uncertainty. It’s ego.
When leaders prioritise being right over doing what’s right,when they build walls around ideas instead of bridges between people, they’re paying what Anton Gillis, President of EO Cape Town and CEO at Hamac Asset Management, calls the “ego tax.”
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“Ego builds walls around ideas, around people, and around growth. When ego drives decision-making, it becomes about being right rather than doing what’s right,” says Gillis.
Inclusivity as a Strategic Advantage
In celebration of Women’s Month, Gillis highlights that inclusivity is not a nice-to-have, but a competitive advantage.
According to a KPMG study, South Africa leads the G20 in gender diversity, thanks in part to the JSE’s gender and diversity targets introduced in 2015. In the country’s top 100 listed companies, women now hold 29% of board positions, compared to the G20 average of 20%.
While gaps remain across sectors, women-led businesses are increasingly shaping the entrepreneurial landscape, a shift visible in organisations like Entrepreneurs’ Organisation (EO), a global network of 17,000+ business owners across 60+ countries. In South Africa, EO chapters in major cities welcome entrepreneurs generating at least US$1 million in annual turnover. Central to the EO experience are small, confidential forums where members challenge each other’s thinking.
“Inclusion has fortunately become part of our generational mindset and is in many industry sectors no longer a false narrative,” says Gillis. “At EO Cape Town, we’ve seen how entrepreneurs can lead this shift, not through compliance or policy, but through authentic connection, curiosity, and the courage to challenge the status quo.”
Diverse Perspectives Drive Smarter Decisions
Gillis says that within his EO forum, women entrepreneurs have reshaped his decision-making approach.
“Their questions often come from perspectives I wouldn’t naturally think to explore,” he notes. “That’s exactly what makes their input so powerful.”
These perspectives bring emotional depth and long-term thinking that strengthen risk analysis and strategic planning.
Vulnerability Builds Stronger Teams
For Gillis, leadership is not about always having the answers. It’s about creating an environment where honesty and openness are valued.
“Vulnerability becomes a strength when teams feel safe to share their truths,” he says.
This psychological safety allows teams from diverse backgrounds, ages, and experiences to solve problems more effectively.
Leading Without Ego Produces Better Outcomes
Leaders who prioritise purpose over pride and contribution over control, often see greater long-term results.
“It’s about lifting others without seeking credit, and listening without needing to dominate,” Gillis explains.
He credits women entrepreneurs for modelling these behaviours, influencing his own leadership style.
Emotional Intelligence Delivers Tangible Business Results
Supporting colleagues through challenges requires empathy, presence, and the ability to build trust. Gillis argues that these “soft skills” are in fact core business capabilities that build resilient teams.
The Path Forward
For leaders ready to reduce their “ego tax,” Gillis recommends:
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Actively seeking out diverse perspectives
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Encouraging vulnerability as a strength
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Listening to understand, not to defend
“The businesses that will succeed are those that understand inclusion isn’t just about compliance — it’s about leveraging the full spectrum of human capability to drive innovation and sustainable growth,” says Gillis.
For more on EO Cape Town, visit eosouthafrica.org.
