[Woost]

If the employer wants loyalty, then they can pay for it. Maybe not literally, but when I really like my job it takes a hell of a lot more than an extra $10k/year to get me to switch.

Or they can heavily encourage it, with vesting stock options, seniority based raises/promotions, etc.

Relying on "loyalty" to keep people when the employer has shown none (an employment contract that has penalties if you're laid off? Only for senior execs) is just a bad idea.