One of your company’s most powerful competitive weapons may at this very moment be cleaning out her desk—or contemplating doing so. Can you afford to let her go?

Women are falling victim to two types of attrition: They’re being disproportionately let go and they’re disproportionately quitting. Yet whether they’re jumping or being pushed, figures show that a female exodus is bad for business.

Research conducted by both Catalyst and McKinsey & Company demonstrates that companies with significant numbers of women in management have a much higher return on investment. While a recent study from London Business School shows that when work teams are split evenly between men and women, productivity goes up. Gender balance counters groupthink.

The facts couldn’t be clearer: smart women equal stronger companies.

As we begin to emerge from the global recession, firms with a view to the future are building bench strength through programs that provide traction for both their high-performing and high-potential women.

Intel created career development workshops aimed squarely at retaining one of its most at-risk populations: midlevel female engineers. Data collected from exit interviews had revealed that many of these talented technologists were leaving not to spend time with their family but because they no longer felt challenged by or passionate about their work.

Intel’s one-day career workshops encourage participants to identify what work truly excites them and the type of work they’d like to do in five, 10 and 15 years. Participants then practice how to effectively discuss their aspirations with their direct managers, who, at the same time, are being taught to address the unique needs of their female reports.

Even firms in the troubled financial sector recognize the need to nurture female talent. UBS recently launched two new programs aimed at supporting women. “Connecting with Clients in Turbulent Times” is tailored to the bank’s client-facing women who want to take their revenue-generation skills to the next level. “Charting Your Future” is a career-counseling workshop customized for high-powered women in Asia.

“The message from management is that the bank cares,” explains Mona Lau, global head of diversity and campus recruiting. “We want you to stay.”

Sylvia Ann Hewlett is an economist and the founding president of the Center for Work-Life Policy in New York. Her forthcoming book is titled Top Talent: Keeping Performance Up When Business Is Down.