Rewarding Top Executive Talent: A Case in Point
Your company has just had a seven-year streak of fantastic sales after a stunning turnaround; it is the success story that everyone in business wants to read about. It is also time to worry.
Apple’s stunning recruitment of Burberry’s CEO, Angela Ahrendts, to fill their highly visible SVP of Retail and Online Stores position shows just how mobile and desirable high-performing executive talent can be – that includes your CEO.
The lesson to learn here is that you cannot let your guard down. You must be actively engaged at rewarding and retaining your company’s high-performing talent. Make sure they are challenged, adequately-paid, and know that you appreciate them. There are effective strategies that assist companies in identifying high-performing talent. Companies can develop or modify competitive reward structures that put “glue in the seat” and build a bench of in-house talent to replace key executives in a pinch.
Blink and they will be gone – just ask any director on the board of Burberry’s.