It takes a lot more than money to recruit and retain high-caliber executives. They’re like hot items — tough to find and subject to rapid turnover.

"If you have the financial resources, and you truly believe that people are the differentiating factor, why would you let dollars stand in the way?" asked executive search professional Kirk Palmer, who is ceo of the agency that bears his name. During his presentation at the summit, Palmer outlined the "five truths" about companies that succeed in retaining extraordinary executives, and the "five traits" those executives have in common:

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