Pay the professor more money. Top Universities are sitting on tens of billions of dollars of endowments, and are willing to pay football and basketball coaches millions of dollars. They are not insulated from market pricing.
In many cases, a new assistant professor's salary at a top university is lower than than entry level salaries for software engineers in technology. For considerably higher stress, harder work conditions, and less job security until they make tenure.
Compare this with medical doctors at teaching med schools: they are often paid slightly less or competitive with practicing doctors.
I am a research scientist with a PhD, and while academia has perks, I'm very happy I went to industry.
In many cases, a new assistant professor's salary at a top university is lower than than entry level salaries for software engineers in technology. For considerably higher stress, harder work conditions, and less job security until they make tenure.
Compare this with medical doctors at teaching med schools: they are often paid slightly less or competitive with practicing doctors.
I am a research scientist with a PhD, and while academia has perks, I'm very happy I went to industry.