A holder adapted to be attached to a tether to help retrieve a dropped tool or prevent a dropped tool from being lost or forgotten during use where the holder has a hollow member with an open end and a closed end and is adapted to frictionally hold a non-working end of a tool in the hollow member. The closed end of the hollow member has a centrally located opening within which is located a cylindrical member which is connected at one end to a shoulder connector and is coupled, either directly or indirectly, to an attachment means at its other end. The cylindrical member can be either fixed or rotatably coupled to the opening in the hollow member and the attachment means is configured to be attached to an end of a tether.