So what does it take to attract and hold on to key employees short of bribery, coronation, or a visit from Tony Soprano? In today’s new economy of dot com -- twenty something millionaires, stock options, IPO’s, Silicon valley and alley, incubators, and venture capitalists, it may sound surprising that new innovations like sound management that can clearly define goals and objectives, meaningful benefits, a comfortable work environment, and likable fellow employees, may be the key ingredients of successful recruitment and retention strategies.

Today, we come across so many people who feel that the world’s riches are being gobbled up by only those individuals who reside in the Internet space and it’s related financial markets, or at one of the emerging technology sectors like wireless communications. There are times when we feel like many of our contemporaries, fresh from successful forays to Vegas can’t wait to let us know how well they’ve done and ask why haven’t we come along as well? The lure of quick wealth and the thinking that the "new economy" bus is getting ready to leave the station, is pulling many talented employees away from stable and secure "old economy" companies that can’t produce the same enticements. Likewise, students – undergraduates and MBA’s are also feeling the pull. But is money the real issue or are other considerations having an impact. What is the real percentage of winners and losers who visit the casinos?

Consider an article in the Wall Street Journal recently that discussed this very issue. In the article, a recent survey of approximately 6000 employees by Randstad North America, showed reasons why people stay put. 71% said they liked their co-workers, 68% enjoyed a pleasant work environment, 68% had an easy commute, 65% percent felt challenged at work, and 54% cited flexible work hours. According to Daryl Evans of Randstad, the most striking finding of the survey was "the commonality of all this information across the generations."

In the March issue of Mobility Magazine both retention and recruiting were covered in separate articles. On the recruitment side, Maura Carey Damacion of US Relocation discussed a buddy system and promise of mentorship and continuing education as well as a commitment of individual professional development to prospective new hires. With regards to retention, Linda Owens’s article touched on several key issues including such work/life issues as cost subsidies for items ranging from mortgages and cell phones to elder care programs. Employee recognition and reward programs along with a simple "thank you" from time to time will all have an impact.