It should be simple: pay people fairly, treat them well, give them meaningful work, and they'll be loyal and productive employees for years to come.
Putting our people first is vital for their wellbeing, and aside from the fact that it makes good business sense, it's the right thing to do. With stress, burnout, mental health issues, health problems, debt, and addiction on the increase, a stressful workplace or toxic workplace culture can play a huge role in the mental, emotional and physical health of our people.
Everywhere I look nowadays I see something about stress and reducing stress. When my doctor inquired about my stress level, he seems shocked when I said "Zero". I guess most of his patients feel stress. I just don't. I have a friend who was nice enough to point out all the things that I should be stressed about, "kids, work, money". Thanks for that buddy, but nope, still not feeling stressed.