Second in Command: The Chief Behind the Chief with Cameron Herold Ep. 409 - How to Attract and Retain Top Talent Without Breaking the Bank
In today's episode of the Second in Command podcast, Cameron discusses the essential strategies for attracting and retaining top-tier talent for executive roles.
The conversation emphasizes the importance of creating a strong company brand and leadership presence online, as well as the necessity of conducting rigorous interview processes to identify true A players.
Cameron also explores the nuanced topic of compensation, particularly the complexities surrounding equity and bonuses. He argues that fair and substantial base pay, along with generous vacation policies, can better motivate top talent than traditional bonus structures, which may inadvertently demotivate employees.
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In This Episode You'll Learn:
- The essential elements your company needs to attract high-caliber executives. (0:50)
- Why traditional job postings won’t land you a top-tier second in command. (2:25)
- The benefits of using specialized executive search firms to find and recruit exceptional COO candidates. (2:50)
- The pitfalls of giving away equity too freely, and strategies for ensuring equity is earned and tied to performance. (4:50)
- Why performance-based bonuses might not always motivate employees. (6:00)
- And much more...
Resources:
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- YouTube - Second In Command Podcast - https://www.youtube.com/@secondincommandpodcast
- YouTube - Cameron Herold Leadership - https://www.youtube.com/@CameronHerold
- COO Alliance - https://cooalliance.com/
- Cameron’s newest book - The Second In Command - Unleash The Power Of Your COO
- Cameron’s Online Leadership Course - https://investinyourleaders.com/ch
- Cameron’s Website - https://cameronherold.com/
- Instagram - https://www.instagram.com/cameron_herold_cooalliance/