Why are we so bad at taking care of what we have?

In both human psychology and corporate strategy, there's a persistent bias toward the novel and external over the familiar and internal – a tendency that helps explain why organizations often prioritize new talent acquisition over developing existing talent, even as data shows Generation Z and female employees are increasingly likely to leave their current positions.

Even as workforce attrition levels hit their lowest point since September 2020, organizations are being warned not to retreat from engagement initiatives – a reminder that the cost of neglecting existing talent often becomes apparent only after it's too late.

Yet a "grass is greener" mentality manifests in corporate decisions like offering up to 20% higher salaries to new hires willing to work in-office while existing employees face inflexible RTO mandates, creating a self-reinforcing cycle of dissatisfaction and turnover. This behavioral pattern mirrors a broader psychological tendency known as the acquisition bias, where humans consistently overvalue new possessions or relationships while undervaluing existing ones.

The irony lies in the clear data showing that retention is far more cost-effective than replacement. Benefits and compensation remain primary drivers of retention, with over half of employees citing benefits as their reason for staying.

Yet organizations continue to underinvest in existing talent development and engagement, particularly for key demographics like women and younger workers who place high value on workplace culture, flexibility, and career development. This disconnect between known best practices and actual behavior suggests a deeper organizational bias toward quick fixes over sustained investment in human capital.

The fact that companies are willing to pay premiums for new talent while struggling to retain their current workforce highlights a systemic failure to recognize and invest in the value already present within their organizations.