At all times the retention of talented employees is of the utmost importance. Key to such retention is a focus on development, exposure to career opportunities and engagement.

These are the things that make employees realise: no matter how tough things become, my employer continues to prioritise me as an employee. It is an opportunity to give meaning to the cliché "people are our greatest asset" and builds tremendous goodwill between employer and employee. Organisations should also not take their eye off the talent pipeline - this is what sustains continuity.

How can companies ensure they keep their best people when they are forced to cut staff?

By looking after them during times of prosperity and keeping them informed at all times, especially when things are tough. Employees know what's going on - whether employers tell them or not - and when they're not kept informed, they draw the picture for themselves, which may be worse than the reality. Various organisations have managed to retain their valued employees through changing the structure of working conditions through, for example, job-sharing programmes and reduced working hours.

Legally, fairly, respectfully and humanely - our labour legislation provides us with firm guidelines ... you can't go wrong when you follow the law. The key is communication and total engagement.

What can managers do to ensure the lines of communication between them and their staff remain open, in good and bad times?

It is important to make communication an integral part of the working relationship. At LexisNexis we have gone a long way in creating a culture of communication: our CEO, Billy Last, holds quarterly road shows for all staff. These are informative, honest and fun and provide employees with a sense of involvement in the life of the business. On a daily basis, our executive and management teams start their day with a coffee, newspapers and networking session. It is an important time to share ideas, problems and solutions among the leadership of the organisation. At the departmental level, every manager and executive is responsible for the execution of a communication and engagement plan - this forms part of our performance contracting and evaluation.