Faculty Compensation and "Brain Drain" - the Atlantic

Some universities value top faculty because of the attention - and private funding - these individuals may draw to the campus. At the risk of raising some hackles, one wonders whether the goal of retaining faculty is more about the university than the students. Let's assume for the sake of argument that it's about the students, and let's take it a step further and assume higher education institutions are ready for a paradigm shift. How then, might universities be able to hire and keep outstanding teaching staff?