Hewlett-Packard has lower turnover than many of its competitors. The Men's Wearhouse has lower turnover than many other companies in the retail industry. Starbucks has comparatively lower turnover than other companies in the fast-food business. Of course, none of these companies is perfect. And then, when these toxic companies conduct themselves in this way, they wonder why people leave.
High turnover costs big money.
First of all, it costs money to go out and replace all of the people you've lost. Along with incurring replacement costs, when you lose people, you lose knowledge, you lose experience, and you lose customer relationships. Every time a customer interacts with your company, he or she sees a different person. There is nothing soft and sentimental about this part of the argument. This is simple economics.