Is retaining talents relevant in a downward economy or is it a continuous challenge regardless of the state of the economy?

Some may argue that retaining talents in a downturn is not critical especially when organizations are fighting just to stay afloat.  Do we then let talented and experienced employees slip through our doors at a time when the economy is under performing?

What would happen to companies that have failed to keep their key talents during an economic downturn and then finding themselves needing the same talents that slipped through the doors?  Would they be in a position to attract such talents to join them again?  Can a “one-size fits all” compensation packages attractive enough for the different cluster of jobs or demographics?

 Are there effective and innovative ways to attract and thereafter retain talents in organizations? 

Retaining talents require a whole gamut of initiatives that must be continuously reviewed with the aim of modifying them to keep up with changing times and environment.  Proactive organizations will need to go beyond the curtain of the Company and delve into personal areas that might cause some kind of stress to their employees.  Removing some of the causes of personal stress would inevitably help employees to worry less and hopefully when such stress is lessen or eliminated, the employee could focus more on his work.  High productivity in a company will generally result in higher profits.