Soar urged the 150 SME leaders in the audience to “weave the thread of leadership into the fabric of your organisation” in order to retain talent. “The majority of talented people are confident in their own abilities, which means they lack fear,” he said. When coupled with the fact that they’re in demand, this means that SMEs should be in fear of losing them.
Using his own experience in the military, where the pool of potential recruits is extremely small, Soar identified a need for SMEs to follow the Navy’s example in spotting and developing future leaders – to create a leadership culture.
“Few organisations set a strategy to develop leaders, when the benefits are clear without capital investment,” he said.
“Our prime reason for recruiting an officer is leadership potential,” Soar argued. In the same way, he added, “identifying a pipeline of leadership talent is vital for growing businesses”.