AdWeek NYC 2013 – “Winning The Talent Wars”

Talent is the single most important factor in guaranteeing sustained business success. Marketing is changing rapidly and becoming more technology- and analytics-based, in addition to creativity.

This is such an important topic, AdWeek NYC 2013 devoted two entire panels to the topic of winning the talent wars starting with the CEO. Here are some thoughts offered by David Kenny (CEO, Weather Channel), Michael Leedy (CMO, American Eagle Outfitters), Andrew Bennett (Global President, Havas WW), James Citrin (Spencer Stuart), and Sheila Marcelo (CEO – Care.com):

• Only 20% of CEOs are recruited from the outside…67% come from within the company;
• Leadership is more important than strategy…great leaders can fundamentally “change the game” in their companies and industry sectors;
• Leadership is about setting a vision, having a great product, and creating an environment that stretches and empowers people;
• Encourages risk-taking and gives permission to make mistakes;
• Winning the talent wars is about attracting vs. recruiting; great work and big ideas (and ideals) attracts great talent;
• Employees are looking for a social mission in addition to the business mission;
• Many businesses are pushing global expansion, but lack people with the skills in emerging economies;
• Strong leaders allow “moonlighting” by employees to create new products and distribution channels;
• New CEOs need to understand and respect the bedrock (rich history) of their companies;
• One of the biggest factors in becoming a successful CEO is “learning agility;”
• Also being socially and culturally aware; instill pride and expect emotional buy-in…you are part of it (culture)…its up to you to participate;
• Cultural fit is ranked by 84% of C-suite leaders as the #1 criteria; people have to stand up for it become cultural advocates;
• Many companies are using Social Hiring and Firing practices; usually if someone fails, they get fired from below; once leaders flatten out the hierarchy and eliminate walls and office barriers, it becomes clear who is not delivering;
• People have to fight for it (culture); the challenge is finding smart people who are also kind;
• Another factor is the leader seeking (surrounding) diversity; agencies struggle because there is not enough diversity;
• Structures will continue to change; development is happening at a faster rate; leaders need the confidence to turn over leadership earlier and employees need to seek to accept it earlier;
• Allow for failure; some of the best people/leaders have failed, gotten fired; they were humbled; look for fighters who pick themselves up and keep going.

How is your company doing at winning the talent wars? What changes are you pursuing as the leader to create sustainable business success?  Let us know.