This is the driving factor in why turnover amongst the 'peasants' has skyrocketed the past 40 years alongside the wages at the top. I have lost count of hte number of company's I've done consulting for where the very idea of employee retention is thrown out the window...

Because if they can hire a fresh college grad for a pittance to do the job, why would they ever "waste" the money on raises, improved benefits, or any other "expense" expected with seniority.

Simply put "corporate" doesn't see the value in the people doing the actual work. And that's why so many X'ers and older millenials with multiple degrees and experience "just below middle manageemnt" now find themselves flipping burgers whilst the kids are in school, or stocking shelves at Walmart and Target overnight.

It is one of the driving forces behind the dwindling middle class,l and the ever increasing income inequity. Companies with a sociopathic lack of care for the "peons"