When one of your employees begins to entertain offers from other firms, a dangerous precedent can be created. Left unchecked, disenchanted people can become carriers of a virus that infects the rest of your organization, especially if they are good at building relationships with their co-workers and direct reports.
Before you know it, they have created a subculture that challenges the way things work and the way you manage, and that pits people against their colleagues in a very unhealthy way.