Title changes can be very valuable. The thing is, they're only valuable because they help you get a better job elsewhere. "Here's something that is only useful

Title changes can be very valuable. The thing is, they're only valuable because they help you get a better job elsewhere. "Here's something that is only useful if you leave". Cool, I appreciate it, but do you expect me not to use it? If you want to help your employees, give them title changes. If you want to help and retain your employees, give them title changes and pay raises.