Stuart,
Very thoughtful answer, Stuart. You know as well as I that there are those who will sit back thinking that, given the economic conditions, employees will stay, no matter what. That may not be the case, however. Failing to retain employees has many spinoff consequences. For example, students feel the loss and may choose to leave as well. Other employees need to pick up the responsibilities of the former employee until a replacement can be found and that can impact employee morale. Failing to be the leader that you encouraged can also affect morale, resulting in less or poorer performance. The results of management's behavior will have a financial impact on the bottom line, positive or negative.
Dr. Patricia Kapper