In baseball, the teams with the highest payroll usually have the best records (except for the Cubs, which is another topic altogether). Why? A high payroll usually means that the team is filled with talented players. While I know there are exceptions, the team with the most talent usually wins.
Business is similar–a great business is usually filled with great talent. So, how do you attract the best talent? Sure, money helps, but there are many other important aspects to attracting talent in business. Want some tips? Here’s a great place to start: I recently ran across Computerworld’s annual report of “100 best places to work in IT” for 2011. It not only lists the top places to work, but it also explains what these companies do to make this list. In other words, it explains what these companies are doing to attract talented employees.
Take a look at the top companies and see what they’re doing to attract the top talent. Maybe it will give you some good ideas for your own company. Of course, if you have any other ideas, I’d love to hear them.