Forget golden handcuffs - the staff want caring companies, writes Jenny Hirschkorn This articles details what happened when Standard Life Bank's MD Jim Spowart left to join the Halifax, followed by many of his staff. Standard Life tried to stop the defections by offering massive loyalty bonuses to those who stayed - but the attempt failed. In the article, Kate Lidbetter, a director of SKAI Associates, explains how, although golden handcuffs have become a widespread tool for retaining staff at all levels, there is some doubt as to whether it's really an effective ploy. Kate is concerned that although the terms retention and loyalty are often used interchangeably, they are actually two entirely different issues. "What worries me is that people may find it difficult to leave for the wrong reasons and the result can be some very stressed and demotivated staff". She says people are looking for caring companies with proven training programmes and effective career management strategies, a view borne out by a recent survey which found that the companies most successful at staff retention were those taking a long-term view, nurturing people into top positions rather than importing from outside.

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