The success and failure of any organisation largely depend on its leadership. Studies show that there is no "one size fits all" leadership style. Nevertheless, effective leaders do possess certain attributes which are extremely crucial for an organisation's sustained success.

In his book "Leaders Eat Last", American author and motivational speaker Simon Sinek highlighted the underlying principles of effective leadership. The book contains some engrossing anecdotes and real-life examples which can be applied to create an organisation where employees are strongly motivated to go all-out, collaborate and eventually succeed.

Let's delve into some of the key takeaways from the book.

Putting the well-being of employees first has a profound impact on its success. Leaders can do this by exhibiting care and empathy for their employees.

Simon cited the example of the US Marine Corps where leaders prioritise the well-being of their team members above their own comfort, thus creating a sense of comradeship and loyalty and inspiring them to go for extraordinary triumphs.

Employee well-being can be ensured by offering comprehensive compensation packages, helping them in their professional growth, and treating them like family members. Organisations having these practices experience higher employee job satisfaction, lower turnover, and much better productivity.

Building trust between leaders and employees as well as among team members helps organisations create a working environment conducive to being innovative, taking risks, and working collaboratively. It all starts with open and transparent communication.

Encouraging colleagues to share their ideas and providing feedback on leadership also contribute positively. Tech giant Google is well-known for its open and transparent communication, thus building trust among colleagues.

Leaders must foster a sense of greater purpose across the organisation. When employees feel that their work has an impact on the well-being of the society and environment, they feel more engaged and motivated.

Patagonia, an outdoor apparel company, is committed to sustainability and encourages its employees to act on environmental issues. By aligning their work with a higher purpose, employees feel a sense of fulfilment and are more likely to stay longer with the company.

Creating a sense of belongingness among employees supports organisations to develop a more engaged, supportive, and productive workforce. One example of a company that does this well is Airbnb. They encourage employees to arrange social events and gatherings outside of their working hours. This creates a social ecosystem and allows employees to interact informally and more openly and develop a sense of belongingness.

Simon Sinek has introduced a novel concept called "servant leadership, which prioritises the needs of the team members and enables their success. Servant leaders do this by providing necessary guidance, support, and resources to their teammates. They actively listen to their colleagues, taking their perspectives into account and making decisions that benefit the collective rather than serving their own agendas.

Moreover, servant leaders are committed to the growth and development of their teammates by providing opportunities for learning. They believe investing in employees' growth benefits both individuals and companies. Servant leaders also act as mentors and coaches, providing guidance to team members reaching their full potential.

Finally, effective leaders must lead by example. Leaders who demonstrate the behaviour they want to see in their employees create a culture of accountability and respect.

Simon Sinek outlined great insights on principles of leadership that certainly drive organisational success.

The author is chairman and managing director of BASF Bangladesh. Views are personal.