Retention of quality employees has taken top priority in today’s highly mobile workplace. A management consulting publication has provided us certain pointers which if followed can reduce the attrition rates substantially. Hiring to senior levels from outside the firm must be reduced to less than fifty percent. Instead internal promotions must be implemented. Employees must be clearly communicated about their growth prospects within the firm. During pay raise, clear demarcation must be made between payments based on actual performance versus potential. Proper talent management requires an appreciation of the fact that the employment market is highly mobile for the right people. The pay scale for employees must be able to match market average as much as is possible.