> [..] people quit if they aren't promoted quick enough. Titles are free, and smaller companies have zero problems handing them out like candy to keep people happy.
My experience is that those same people quit once they are promoted. They are playing a game of ladders. It might be your corporate ladder they are trying to climb but most likely it is someone else's. They want that Senior Engineering title so that they can hop to the next organization without putting in the work to achieve that title at that company. And, it works. Some of my former coworkers have been hired for jobs far above their skillsets and it's on those hiring companies for not being able to assess competence. I have had employees from my company with only four years of experience leave for a VPE title. I wouldn't trust them as an engineering manager or senior engineer reviewing code let alone a VPE but companies are desperate and they were charismatic enough to BS their way through interviews. I always smile when that happens because I know which company will likely go out of business since they can't assess skillsets without titles. These companies are willing to pay way more money for far less talent and well that's the stupidity tax these companies get to pay.
If recruiters are going to farm talent from smaller companies, as they do, I will ensure from here on out that externally all of my duds have Senior, Principle, or Distinguished engineering titles. I will hand them a grenade with the pin removed... Electrons to bits they hire them without evaluating skills or experience. ;) I'll give my exceptional talent titles like Level 1-M.U. (Level 1 being our highest most prestigious rank, the title being master of the universe, or whatever.)
This is the game companies they have created since they can't assess competence and corporate recruiters only know how to search LinkedIn for titles. They made that bed, now they can sleep in it :)
Jokes aside, I was only burnt a few times by employees wanting titles in order to jump ship quickly. I now recognize my coworkers with accolades, great pay, flexibility, and treating them like the intelligent adults that they are. Collaborating with them. Being transparent. If they still want to quit because I won't give them a title too soon and their ego simply cannot get past that, it's just not a great fit and I don't want to keep them from fulfilling the needs of their ego at their next job. That being said, the right people get the right titles at the right time, and in between then, there are a lot of ways I promote people culturally without giving them a title too soon.
Most people just want meaningful work, paid well, and only after those two have been addressed, then do they want recognition. Don't get me wrong, they want recognition too but a lot of poorly managed companies don't understand what meaningful work and paying employees well means so they hand out titles as quickly as they can. Heck, they don't understand what recognition is either if the best they can do is hand out a title.
PS; I am definitely not saying that is what is happening at your company or with your higher ups. I am just over here hyperbolically weaving fantastical yarns of fanciful prose to amuse and illuminate at 0530AM MST.