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:
Define the qualities, attributes and/or characteristics that are unique and most important to their company. "This sounds like a no-brainer but very few companies actually do it," Palmer said.
Have people who understand and believe the ‘must haves’ of the business and culture. "They drink the Kool-Aid, walk the walk, talk the talk," Palmer said. "How does this happen? It happens when the leader or leaders in the business communicate core values that come to define the culture of the business, and transmit these values down and throughout their organization."
Opportunistically hunt for talent. "It’s not just based on openings," Palmer stressed. "It’s not just lip service, but time spent. CEOs of these companies spend significant portions of their time speaking to prospective candidates from other companies."
Have a continual and conscious process of getting the right people "on the bus and the wrong people off the bus," Palmer, quoting from the book "Good to Great" by Jim Collins.
Pay top dollar for their talent."Frankly, companies that don’t pay often have an unrealistic perception of themselves. If your company makes the statement that you pay at "market averages" in your compensation program, your implied statement is that you have and desire to acquire ‘average’ people."
The five traits that extraordinary executives possess are, as Palmer sees them, great interpersonal skills; a passionate curiosity with a love of learning; they’re proactive; they have unyielding tenacity, and they possess a "purposeful passion" and ability to find the right home to fully exploit their passion.
In honor the @CFDA’s announcement of @iamnaomicampbell receiving the Fashion Icon Award at the 2018 #CFDAAwards, which will take place on June 4, here’s a #tbt of the supermodel on @michaelkors’ runway in 1991. #wwdfashion #wwdarchive (📷: George Chinsee)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech during @sxsw for @createcultivate in partnership with @fossil. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.