While not focused on exactly the same topic, this HMW video has some intersection and gets into the nitty of what's going on.

It also means the employers hosed themselves, since skilled labor is not threatened by a potential firing (the way they once were) and are continuously looking for their next rung on the ladder elsewhere. Also, it means promotions are no longer an incentive for hard work, since the workers expect you to hire from elsewhere. So all those incentives to overperform are gone.

PS: Curiously in The Sims 2 (a 2004 game) I figured out the best way to get rich legitimately (e.g. without using cheats, and not getting an Open For Business storefront, was to swap careers whenever you reached the top tier of a career ladder while sustaining necessary skill and friend minimums. The sim would get promotions every day of work, including a fat bonus, and I could finally afford that pre-built dream-house I made.)

I keep on getting fired. I also usually get a dramatic pay increase with each new job. Still pisses me off.

We just have a fully open system based on age, experience and seniority.

No discussions, no begging or threatening to leave, but also just industry median salary.

I have stayed for 6 years now.

Yeah this sucks for people like me that just want to do a good job. 30 years and finally making some money but not goood money.

That's empirically testable in my case. Same employer's for ~10 years, went from £13k per annum to almost £30k. In the next 10 years, I went from £30k to £85k. Software developer, in the UK.

I’ve been fortunate. With same company for 12 years and am above market rate enough that I dont care to look elsewhere.

I've been mostly working at startups since I graduated and I haven't had a job for longer than 2 years once I stopped delivering pizza for Papa John's and driving for Lyft. My pay is pretty good but it's kinda balanced out by the amount of time I've been unemployed.