> Companies must invest to train current workers to pick up new tasks — and invest to recruit replacement employees after the economy improves or the company’s financial troubles clear up.

It always baffled me how could a businessman fail to understand that loosing a reliably working employee (even of mediocre productivity) is like shooting your own leg - resulting in having to look for a replacement, train them and hope (certainty is value worth money as well) they are going to be as good. To me it seems it is always better to increase the wage to avoid losing people already working for you so you save yourself from the hassle.