I don’t go into detail about this in my book, The Magnetic Leader, which probably explains why I’m often asked how companies can attract magnetic leaders to their organizations. Here’s where to begin.
Showcase your organization. There are many great organizations out there, although you wouldn’t know it. That’s because a lot of companies are best kept secrets. This is the last thing you want to be when looking to attract and hire magnetic leaders, or any talent for that matter.
Magnetic leaders, those whose leadership style is irresistible, are in high demand. This means they can be fairly selective when deciding for whom to work. You’ll have a hard time attracting magnetic leaders to your organization if they have no idea who you are. To achieve recognition, you’re going to need a strong employment brand that will pull magnetic leaders towards you. (More on the topic of employment brands below.)
Raise the level of leadership in your organization. It’s no secret that great people want to work with other great people. This means that if you want to attract great magnetic leaders to your organization, and right now you have a group of okay leaders, you’re going to need to raise your game.
It’s time to clear the deck. Remove leaders who are simply occupying space. Now that there’s room in your organization, you can look to curate a team of “A players.” Once you’ve been able to recruit one or two highly regarded leaders, no doubt others will follow.
Send out press releases whenever magnetic leaders join your organization. This will send a signal to others that your organization is moving into a new league.
Assess your current leaders, with an eye towards identifying areas where further development may indeed increase their leadership abilities and magnetism. Once you’ve determined what’s needed, you can choose from an array of delivery options, which may include onsite training, online courses, and executive coaching.
Review your compensation and benefits package. People will tell you that money doesn’t matter. Those people are usually the ones that have more money than they know what to do with. Money matters.
Magnetic leaders don’t come cheap. They’re considered top talent. If you want top talent, then you’ll need to be prepared to pay for top talent. A competitive benefits package will be necessary as well.
Salary surveys are one way to determine the going rate. However, given the record low unemployment rates in many parts of the country, a better measurement may be what applicants are currently asking for in terms of compensation and benefits.
The investment needed to assemble a team of magnetic leaders will have what I call a ROM (Return on Magnetism). That’s because people do business with people. A team of irresistible leaders will attract a higher quality workforce, more customers, and more profits. And who doesn’t want that?