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Tips on how to attract and retain talent in your organisation

Holding on to talent will help get you through tough times, says expert.

In difficult economic times the role of a leader becomes even more important, with professionals looking to those above them for guidance and inspiration.

But despite living in volatile times, it seems that there are simple steps those who have already climbed to the top of the corporate ladder can take in order to make sure they steer their company in the right direction.

In a recent interview with The Australian,Hay Group Pacific's general manager Henriette Rothschild said that holding onto talent and having "courageous conversations" will make a big difference to workplace morale as well as boosting productivity.

"CEOs need to be clear about their strategy, bring this to life and win the hearts and minds of their team to ensure people are aligned around this. A loss of focus or direction can be fatal for an organisation going through a down turn," explained Ms Rothschild.

In addition to this invaluable advice Rothschild also went onto offer her top five tips for good leadership during tough economic circumstances.

And coming in at number one was communication, with a clear emphasis on active listening and constructive feedback.

"The role of the CEO isn't to sit in a tower and dole out directives. It's to sell your vision through good communication, which means listening as well as talking."

Coordinating teams that will bring your strategy to life, as well as putting in place a competitive rewards scheme is another way to make sure that staff members are on track to meet targets and progress their career.

Ms Rothschild said that retaining and attracting talent should be at the top of any leader's to-do list in 2012, while stretching current employees will make sure your brand stands out in tough times.

With this in mind, it may be time for leaders to dust off their eco business card and start mingling in order to attract the best and brightest to their fold.