While reading The Talent Game (membership required) Panel Discussion transcript, I was horrified to read that one participant said that many employees are being told they are lucky to have a job — that is one form of retention. Simply put, it’s disgusting. Not only does it show an utter lack of respect for the employee, but it also shows an utter lack of competence in talent management.

Even if you recently went through a layoff, presumably the employees you retained are those employees who were best at the jobs you needed done. These are, by definition, the same employees your competitor would also keep in the same situation. And since these are the best employees, these are the employees that companies who didn’t have the same talent pool to draw from before the recession are desperately seeking in an economy where they need a workforce who can do more with less. Maybe your employees are lucky to be making a high salary, or to be receiving above average benefits, or to be working at a company that challenges them on a daily basis in a job they like, but they are not lucky to have a job. Even if she has to make a sacrifice in pay, benefits, or flexibility, a good employee can always find a job.

So if you still think that your employees are lucky to have a job, you better wake up and smell the coffee before they do. Otherwise, you might find that your best employees are leaving for your competition as soon as the economy recovers.