The point here is that only reason a person leaves the job is because he feels stagnant/problem with management/salary issues/growth.to be competitive companies have started offering competitive slaries to employees,management always keeps an eye on whether an employee has a problem and how we should cater to that.
Now if we think logically 90/100 times a person leaves for growth in responsibility,new learning,challenging projects etc.
its not that the same company cannot offer that growth to the employee,why cant we look at our own people and help them move forward rather than hiring people at higher level with so much of difficulty and entering into a race where I am hiring one from a X company and loosing two to Y company.
Its all about planning it and managing it.So there is a need of good planners and managers.
Everybody would agree we see less/no attrition in a small company and most of the people say its coz of their size.But I dont think the size does matter if we plan and implement in a better way.I have started with a small company and I had the best feeling working with that company.The problem I faced there is that the company grew and management became weak,all personal care,team building,belongingness went for a toss,people started feeling demotivated and moved on.Company started hiring senior people from outside coz it grew,not even thought of people who contributed to its growth.
I guess attrition has nothing to do with salary/perk but management's inability to carve the growth path of its people wrt the company;s growth