That's a different situation then. A lot of companies make trainee employees sign a bond. To my knowledge all the Indian software consulting giants have one. If an employee leaves before the term is fulfilled (typically 2 years) they have to pay the company. It's usually on the order of 20-40% of an entry-level employee's annual salary. Otherwise the company can withhold references and experience letters, which are usually needed in future.
If you already have a bond/contract system in place and employees are still leaving, then IMO you're still paying them too little. If they are happy to pay 20-40% of their annual pay just to leave the company, it means they can make 50-100% more elsewhere. Loyalty is worth something but it's not worth passing up a pay raise that high.
If you already have a bond/contract system in place and employees are still leaving, then IMO you're still paying them too little. If they are happy to pay 20-40% of their annual pay just to leave the company, it means they can make 50-100% more elsewhere. Loyalty is worth something but it's not worth passing up a pay raise that high.