I'm not sure that's such a bad thing, yet I wouldn't say that what we have today is bad either, I suppose they're just two equilibriums. The problem more likely lies in the transition from one to the other: employees that expect to be treated with loyalty and are summarily dumped with a few years left before retirement, or employers who invest a lot in employees and expect to see them stick around because of it.
This is pretty off topic, but I'm not particularly a fan of 'loyalty' to countries either. Most people happen to be born in a particular one; at least a company is something that you likely chose.
The chocolate maker Cadbury would be a good example of this.
/nostalgic for an earlier era I am to young to have known