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Unfortunately, as many of the responses indicate, plenty of our peers see no problem with this practice at all. Professional ethics are becoming a bit of an anachronism. We have head hunters calling our folks on a nearly daily basis. That being said, our firm has always placed an extremely high value on our employees-we pay well, bonus well, have a flexible work/life environment and even do small thinks like free snacks and a free drink fridge. Most of all we are not a sweat shop demanding 50/60/70 hour weeks as employees "pay their dues".
The net net of this is employees laugh and tell us when they are contacted; moreover, most of our employees have been with us 8 plus years and in the past few months our last three hires came from employees encouraging their friends to work for us.
None of us can control the questionable actions of other employers but we can create an environment employees do not want to leave.