Once you attract the best and the brightest employees, the challenge is keeping them and optimizing their skills to enhance and grow your business. Competitive benefits packages and pay rates may seem like obvious retention tools, but what about other influences that surpass the bottom line, like leadership? As a strong leader, it becomes possible define your company’s culture and increase commitment, morale, and even the performance of your employees.
Leadership is even more important during challenging economic times. Employees look to the owners and managers for assurance during uncertain economic times. Frequent communication by strong leadership helps inspire them to stay the course. When your people are motivated, it becomes easier for you to focus on being more effective at sustaining your daily operations and affecting positive change for the future of your company.
You may achieve powerful results by demonstrating the following qualities and nurturing them in your employees:
Defining short and long term objectives provides direction for the business. When you communicate the vision you have for the organization, it creates a feeling of inclusion for your staff. Your people feel they have a stake in the future and a role in the company’s success. It becomes easier for you and your people to develop strategies to accomplish goals.
While leaders benefit from having confidence in their abilities, arrogance can have an eroding effect on morale. Humility helps cultivate respect and foster an environment where self-interest takes a backseat to shared objectives—where one person’s accomplishments are everyone’s success. As a leader, humility doesn’t mean thinking less of yourself. It means thinking of yourself less.
It can be easier to motivate people when they trust you. One of the best ways to lead is by example, holding yourself to the same standards as everyone else. Most studies will tell you that appreciation consistently ranks higher than pay for employees. People thrive when they feel appreciated. They want to feel like you are rooting for their success. Make a concerted effort to acknowledge the contributions of staff, maintain fairness and consistency, and take responsibility for your actions and decisions.
Leadership styles vary, and successful strategies will also vary in different businesses and people. Energizing and rallying your employees with strong leadership can have a favorable influence on retention, profitability, and growth.