Back in the old days companies would hire smart/capable people and train them up.
This mentality works well when you don't expect your workers to leave in under 5 years. I don't really know if this is a good or bad thing, but given the structure of American businesses it doesn't make as much sense to take on a new person, train them, then take the risk of them taking their skill set elsewhere.
Do people leave companies after a few short years because they're job hoppers? Or do companies drive them away with constant focus on profits, redundancies, cutbacks, and all these wonders of modern management? I'm more of the opinion that people 'jump ship' because they're worried that the rug is about to be pulled from under them at any moment by management.
This mentality works well when you don't expect your workers to leave in under 5 years. I don't really know if this is a good or bad thing, but given the structure of American businesses it doesn't make as much sense to take on a new person, train them, then take the risk of them taking their skill set elsewhere.