Be The Employer of Choice
Yes, leadership requires authentic respect for your people, communication skills, and the ability to grow people through great coaching and mentoring.
But you also must provide fair and competitive compensation. Be the kind of boss people WANT to work for, and also make sure you are providing compensation and benefits so that they CAN AFFORD to continue to work for you.
(image source: https://www.facebook.com/photo/?fbid=7261189693996311&set=a.157234417725243)