Urban Outfitters' Glen Senk: Look for the Right Culture, Diverse Opinions and 'Bad News'

According to Glen T. Senk, the key to success is hiring and cultivating the right people. At a recent Wharton Leadership Lecture, the CEO of Philadelphia-based retailer Urban Outfitters underscored the importance of recruiting and developing a team that is a good fit for corporate culture -- and then listening to what those employees have to say, even when the feedback isn't always positive. "When you are the CEO, everyone wants to 'yes' you; no one wants to give you bad news," said Senk, who began working at Urban Outfitters in 1994 and took the top job in 2007. "But I have to pull [the bad news] out of them. I need to know what I'm doing wrong."
Another tenet of Senk's philosophy is the importance of pursuing a career for the sheer enjoyment of the work, rather than for money. The wisdom of that viewpoint became apparent to Senk in 1989, when he successfully battled cancer. "You realize you have to take responsibility for doing what is right for you," Senk noted. "You have to live a life you want to lead." Senk added that focusing on living what he called an "authentic" life has paid huge dividends. "A lot of my friends who went on to be very successful in investment banking or law or consulting ... are not as happy as I am. There is not a day that I don't wake up bounding out of bed and can't wait to get to work."
The payoff to Senk's formula is evidenced by Urban Outfitters' rapid expansion.
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