If your company has trouble hiring, it's a signal that something is wrong with the hiring process and the company needs to change it. Maybe stop leetcode nonsense, maybe offer more equity. Your managers should spend time to figure out the root cause and fix the problem. If your management cannot figure it out, fire them first.
If your company has trouble retaining engineers, it's a signal that something is wrong with the work environment. It could be pay. It could be lack of promotions. It could be a lack of recognition for the amount of work they are putting in. Once again, it is the management's job to figure out the root cause and fix it. If they can't, fire your management first. Hire/promote people who can do something different.
It is quite clear that in a hot economy, a lot of employers will need to reevaluate if they have the right decision makers in the first place.