“Engineers did this to themselves…”

Long, long ago, the compact was that employees worked hard for a company for a long time, and were rewarded with pensions and opportunities for career advancement. If you take away the pensions and take away the opportunities for career advancement, your employees will advance their careers by switching companies—and the reason that this works so well is because all of the other companies would rather pay more to hire a senior engineer rather than take a risk on a junior.

It’s a systemic problem and not something that you can blame on employees. Not without skipping over a long list of other contributing factors, at least.