Ensure your company’s top talent doesn’t jump ship with these top tips.
It seems like every day there’s a headline announcing a new executive is either coming or going at a major restaurant brand. Panera Bread’s Irene Cook left to work for Dig Inn, while Wendy Moats of Starbucks headed over to Pie Five this year, and McDonald’s David Hoffman left after 22 years with the brand to be president at Dunkin’ Donuts. The more moves there are, the more companies begin to worry that their own talent may be attractive to the competition. A a recent QSR Magazine article explains a few tips to follow that can help your company retain a leader.
“The more common practice is for someone who is potential CEO material but who isn’t quite there yet to be poached from a competitor,” says John R. Kimberly, a professor of entrepreneurial management in the Wharton School at the University of Pennsylvania.
While there is always a fear and risk of someone being poached, Kimberly advises that companies should still support the talents of its top executives giving them great responsibilities in order to at the very least appear attractive to future job candidates.
For brands going through challenges, it can be hard to find the right people to stick around through it all. Andy Gamm of Pizza Patrón explains why he stayed with the brand, “I’ve got a tremendous passion for the brand, and that goes a long way,” he says. “It’s very motivating when it’s fun to get up and come to work every day.”
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