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Reichheld, F. F., & Teal T. (1996).  The Loyalty Effect : The Hidden Force Behind Growth, Profits, & Lasting Value.
"Loyalty is indeed a two-way street, and companies that dump people when earnings are down (much less when earnings are up) are sowing the seeds of their own failure. Every company falls on hard times now and then, and it's the loyal dedication of key employees that pulls most of them through. By showing people that the company won't stick by them in adversity, a firm can almost guarantee that the next time it's in trouble, its most talented employees will jump ship just when they're needed most." (p. 96)

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