This doesn't sound right to me at all. There are environments and fits where people will leave, no matter what you pay them.
And people have an inherent bias for the status quo because of job switching costs (or if they don't, they're not long for your company anyway). If they're happy and feel fairly paid, they're not going anywhere. If they get a competing offer such that it no longer seems fair, if you've created an environment of trust, they may even tell you.
And people have an inherent bias for the status quo because of job switching costs (or if they don't, they're not long for your company anyway). If they're happy and feel fairly paid, they're not going anywhere. If they get a competing offer such that it no longer seems fair, if you've created an environment of trust, they may even tell you.