Retention Is Culture, Not Compensation, in a Mobile Market
When talent walks in a market this fluid, the instinct is to reach for the pay review, but in a city where money is seldom the deciding factor, people leave a place they have stopped believing in even on good compensation, and stay somewhere they respect even when a bigger number is one email away. What actually holds capable people, being respected, doing work with meaning, having a leader who genuinely sees them, is cultural, not financial.
Kevin puts that squarely to leadership rooms, because it recasts an expensive New York problem. For an organiser whose real worry is holding talent where everyone has options, the useful reframe is that culture is the retention plan, and that the lived daily experience of the place, not the annual figure, settles whether the best people stay. That is a good deal more actionable than another benchmarking exercise.