Loyalty. How has it become so undervalued? By its very definition, to be loyal is a commitment. It is the suppression of self-interest in favor of the success of the cause one is dedicated to. For an employer it should be attribute numero uno on the importance scale. A loyal employee is dedicated to the success of the mission, in the case of a business, to its profitability and success. A loyal employee is not just clocking hours and doing a job. A loyal employee goes above and beyond. Is an advocate. Has the company's back. You can count on a loyal employee to do what is needed to advance the success of the business.
While it's a no-brainer that a loyal employee is worth his or her weight in gold compared to a non-loyal employee (not disloyal, just complacently non-loyal), the economic value of loyalty is grossly underrated. As an employer, having a loyal employee on the side of the business is worth 10 or 20 employees who wouldn't go above and beyond to save a customer relationship, win a deal or make sure every detail is accounted for. And yet, if it's measured at all, it is a "soft" number. Einstein perfectly summed it up: "Everything that can be counted does not necessarily count; everything that counts cannot necessarily be counted."
It is erroneous to believe that profitability is a result of the "hard" numbers alone. The "soft" numbers, the intangible assets such as loyal employees, play a larger role in profitability than most number crunchers give credit.
In short, a loyal employee is worth retaining. An employer with loyal employees is fortunate and poised for success.
"Lack of loyalty is one of the major causes of failure in every walk of life." - Napoleon Hill (1883 - 1970) from Think and Grow Rich (published 1937).