Redsy,

No offense, but lets talk again after you go through a slow spell, and do everything you can to keep your employee working. You have him even help around your house at your own personal expense. Then he comes to you and says "i want to do electrical work, not sheetrocking/landscaping/etc. X company is willing to pay me $1/hr more and they have tons of work. Sorry, I'm leaving"

It definately changes your attitude towards employees.