Can you imagine if HR actually addressed the reasons for leaving? It's often the money, sometimes the management but usually the money.

Take my wife's example, she changed jobs twice in a year and each jump was a 10k raise (she isn't very good at negotiating, too). My brother changed jobs like 10 times in 5 years (programmer, several were start ups that ended) and he ended up going from 80k to 180k. Most of the jumps had anything to do with work environment, and in tech most of these companies have crazy good work environments.

So do they counter offer? Do they do competitive raises? Actually yes, but our worth is usually so high that doing those just raises the competing offer. If we ever were paid our worth, we'd stay. That hasn't been the case since the 50s-- or so I'm told, anyway.