Attention employers: this is not a retention strategy. Yes, it may work in the short-term as people who are nervous will hold onto a job with both hands right now. But when they get a new opportunity, how seriously will they consider it? That is completely proportional to how they’ve been treated lately. If your treat your employees well it will return to you many times over. Even if you have to lay them off, if you do it fairly and with respect they’ll respect you as well. However, if your current retention strategy is “you’ve got nothing else” soon enough your employees will turn the tables on you. How do I know? Because your people are contacting me, even in this economy.