CEO TA LENT SUMMIT
CREATING A CULTURE THAT NEVER QUITS What it really takes to hire and retain the best of the best in an fierce job market. BY C.J. PRINCE CEOS CAN COUNT ON ONE THING heading into 2020: there will be no return to business as usual. The unprecedented speed and complexity of change has created a climate in which constant disruption is the new normal. To stave off obsolescence, CEOs need a cadre of gifted leaders in their ranks who are able to see around corners, spot looming threats and identify new opportunities for growth. Just how to attract, nurture and retain that top talent in a fiercely competitive market was the subject of the 2019 CEO Talent Summit at West Point, where top business and military leaders shared secrets for recruiting and building extraordinary cultures that thrive in change. That illusive competitive requirement— great culture—was at the heart of the discussion during the two-day conference. “That is the DNA,” said Nigel Travis, chairman of Dunkin’ Brands, where he led as CEO for nine years until 2018. Travis, the author of The Challenge Culture: Why the Most Successful Organizations Run on Pushback, explained that a challenge culture requires constant dissatisfaction with the status quo. “What exists today is not going to help you in the future—even if you invented it,” said Travis, who was also president and
COO of Blockbuster until 2004. He explained that the video rental giant ultimately went bankrupt because it failed to identify the threat from a single scrappy startup. “We studied Netflix passively. We sat there and watched it—you can’t do that,” said Travis. “You have to constantly anticipate your potential demise.” To do that successfully, you need a culture that welcomes dissent and inspires spirited questioning and effective listening. “Do you, as CEOs, provide your people the opportunity to question the status quo?” he asked attendees. “Because that’s what helps you anticipate the future. Think of vigorous discourse as a way of life.” At Dunkin’ Brands, Travis instituted weekly “coffee chats” with junior employees so they would have a safe space for honest and transparent communication. CEOs must be authentic leaders, he added, noting that the tone should indeed be set by the CEO, “but you can only do that with your actions—with what you do every single day.”
“You have to constantly anticipate your demise,” said former Dunkin’ Brands CEO Nigel Travis, top. Below: CEOs touring West Point.
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