I'm religious about this topic for a reason. :)
No, I attribute the turnover to the recruiting mechanism. We found great people who were sorely mispriced by the market, and we took advantage of that to create a win-win scenario: people without the resume to get a similar job at a competing firm got an extremely impactful resume bullet and a good-paying job, and we got people who genuinely wanted to be on our team and weren't applying as a once-a-year lateral job-hopping gamble.
(I have no problem with people job-hopping, by the way, but every employer is trying to minimize their exposure to that.)
Really my comment was just to help demystify why this sort of thing doesn't happen in many companies based on my own observations.