It is easier to retain an existing customer rather than lure a new one believe marketers. The same applies to employee-employer relationship too. The management practices adopted by the Japanese enabled them to dominate certain markets. An organization's first step should be to ensure that employees feel wanted by the organization. Long-term employment serves to strengthen the organization.

There is still hope. I think we are seeing more employees take an individual look at their jobs in the long-term. They would rather remain with their current employer if career opportunities were presented. Thus, organizations that are serious about retaining key talent have a great opportunity today to create a work environment that allows for flexibility, growth, and development.David Sholkoff, a principal in Deloitte & Touche's Human Capital Advisory Services practice

Employee retention is once again grabbing headlines as the economy takes a swing upwards and people are emboldened to seek greener pastures. It is ironical that after chanting the mantra of downsizing and employing people on shot-term contract bases, retention of people has moved to the forefront as the key issue in several organizations. Jeff Taylor, of Monster feels that in the next five years, there will be an acute shortage of employees.2 This predicts a situation where employers once again will seek employees and not vice versa. Scratch the surface and a lot of hidden perspectives are revealed.