It is a major error to underestimate the value of people. Of course, except in retrospect, most of us don't realize we are making that mistake. It's time we got serious about the positive side of continued employment. The success of many companies in recruiting has been mediocre at best. Recruiting skilled employees who are in short supply has become an expensive budget item accompanied by a slowly moving learning curve.
Retention makes more sense than hiring replacements.
If you must recruit, word of mouth praise from happy employees is the best of all recruiting tools. To put first things first, you must know why people are staying. There are a variety of reasons people stay on with a particular employer for an extended time but, too often, the managers are not fully aware of these reasons. Simple awareness of the top three categories for staying is just a beginning. More detailed information is needed for the information to be useful.