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How to retain employees when pay raises and job security are but a memory

This story appears in the January 2003 issue of Entrepreneur. Subscribe »

If you're like most employers, you had pretty severe layoffsabout a year ago, and are just thankful you haven't had to letanyone go since. But look around. The all-for-one attitude amongsurviving employees has likely dissipated. You're left with astressed, overworked staff who can't remember their lastraises.

Don't kid yourself-people won't work under theseconditions forever, notes Richard Hadden, employee relations expertand author of Contented Cows Give Better Milk (SaltilloPress). "Even though there's a cease-fire in the talentwar, in the next few years, there will be far more jobs than peopleto fill them. People working [long hours], [who've] neglectedtheir family and neglected their health-those people [will be] thefirst to jump ship."

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