Leadership In Business: How To Attract And Retain The Most Talented Individuals

In the business world, modern trends see employees moving from one post to another with much more frequency than they ever did in the past. More and more people see the value in their skills and are prepared to seek out the best employment packages with a renewed sense of self-worth. And this is a powerful thing for business as a whole. Confidence in their abilities and a strong sense of entrepreneurial spirit are keystones in the history of many successful enterprises. 

Leadership in business: attracting and retaining the cream of the crop

The concept of a ‘job for life’ is a thing of the past, and some companies struggle to retain their brightest, most valuable human assets. This is when advanced leadership and innovative thinking techniques can be the difference between consignment to the middle of the road and overwhelming success. So, how can businesses stand out from the crowd when attracting their first-choice employees? 

Remuneration and benefits packages that include critical illness insurance

Part of the solution to the problem of attracting and retaining employees centres heavily on their financial motivations to remain. Healthy financial offers are a superb way of catching the eye and making people think twice. Combine that with a sensational package of extra benefits, and the odds of achieving the desired result swing heavily in their favour. Some benefits not all Australian employment packages offer include:

• Life insurance outside of Superannuation coverage
• Critical illness insurance
• Comprehensive health insurance

All of this drives up the cost of hiring people, but if it does manage to attract the best in the business, it is a tactic that should pay off in the long run. 

Other contributing factors

There is no catchall answer to the question of how to counter the trend towards instability among employees, but some other factors weigh into the equation, namely: 

• Development opportunities — It is proven that if people feel challenged and appreciated, they are much less likely to consider changing jobs. This is somewhat of a catch-22 situation, as it is important to offer employees the chance to grow and augment their skills but at the same time, you are making it easier for them to move if they choose to. The trick is to find a balance that gives them no reason to want to leave.  
• Employee engagement — Engaged employees are more likely to be motivated and productive. 
• Managers’ attitude towards their employees — As a leader, the responsibility of any manager is not only to the owners of the company and their clients but also to their employees. And that role extends far beyond the control of their rudimentary work functions. A good manager’s approach to looking after their people should include everything from their work satisfaction to general well-being. 

Conclusion

If CEOs can start to think differently and recognise the skills and attributes their employees/potential future employees possess, they are already on the path towards attracting the strongest people. By working with them and respecting their efforts, no matter what level of corporate structure they find themselves on, the potential to build and grow an effective business model is high. Incorporating aspects of health and life insurance that other employers do not offer, like critical illness insurance, is a fine way to reflect their level of appreciation and one that is sure to foster loyalty and increased motivation to drive ever harder towards success.