I keep hearing about employees leave bad bosses not bad companies or something like that. I think that must employees look at the full picture when deciding to stay or go.
The decision to stay or go is a big decision and cannot be downplayed to just one thing. Most people evaluate everything when making this choice, at least I do.
I have worked in roles where the company did amazing things for its employees but the direct manager was not good. I have also worked in the inverse. Where the boss was awesome but you could tell they were constantly struggling to be good and shield us from the poor decisions from the company.
All you can do as a leader is be the best you can be. People will make their choices regardless of how you act. That doesn't mean you shouldn't strive to be the best boss ever but you have to realize that some things are out of your control.
For me leadership is about honesty first. Be honest with your feedback because you cannot learn and grow if someone is sugar coating your faults as to not hurt your feelings. Don't be mean and frame everything in the realm of learning and growth. Be honest about the business. If you have information that your team needs to know to make decsisions then get them that information don't hide it from them. The sooner they know the truth the sooner all can move forward and get the job done.
Lead from the front. No one wants someone barking orders ta them to realize they have no idea what they are talking about. You do not have to be the subject matter expert on everything but if you do not know what you are talking about you will get found out pretty quick.
Lastly be compassionate. Money is not the only driving factor in decision making. Sometimes as a business you can afford to do things that an employee may not be able to afford to do. Personally I have delayed a layoff for a few weeks because of personal issues the employee was having. Of course we could have cut them loose and saved some money but is it worth it at the risk of an employees health. You have to take care of the person first and the loyal and healthy employee will come later
Work to be the best boss you can and good things will follow. The business leaders need to work on being the best business and good strong loyal employees will arise.