Ha, I was just thinking about this in a very similar way the other day.
Employee happiness is basically Good Will > Bullshit. Good Will is things like flexible working hours, office perks, interesting projects. Bullshit is anything that the employee percieves negatively.
Retention builds on this. It's Good Will + Compensation > Bullshit. Compensation here can be salary or benefits. Many employees can be unhappy (Good Will < Bullshit), but not quit because they need the money or whatever. But, at some point, the BS will outweigh even good compensation, and that's when employees quit.
Employee happiness is basically Good Will > Bullshit. Good Will is things like flexible working hours, office perks, interesting projects. Bullshit is anything that the employee percieves negatively.
Retention builds on this. It's Good Will + Compensation > Bullshit. Compensation here can be salary or benefits. Many employees can be unhappy (Good Will < Bullshit), but not quit because they need the money or whatever. But, at some point, the BS will outweigh even good compensation, and that's when employees quit.