Isn't the problem the high turnover rate in the industry? Why invest in educating someone if they are going to quit in one year or so?
'What happens if you don't invest in them, and they decide to stay?' - Quote from a management guru, can't remember his/her name
On my resume, the "at-will" terminations outnumber the number of times I jumped ship for a better situation, 5 to 1. This last year's raise was just a cost of living increase, and they crappified the health benefits, so I may have to even those numbers up a bit soon. The only thing stopping me is the horrid, nauseating, bile-raising gauntlet of developer interviews.