I don't know if this is representative, but I've found that employees who are treated as disposable often treat their jobs at disposable. In other words, job hopping is often at the employee's initiative. They are ready to look for new work the minute their old job feels a bit more insecure, and are ready to jump at a new job if they are offered new benefits. Note that I said benefits, not security. It is assumed that job security does not exist so it is not something that is worthwhile seeking.
The sad thing is that it hurts employers as much as it hurts employees. It costs money to look for new employees. It costs money to vet new employees. It costs money to train new employees. It costs money to terminate employees or have employees resign. It also costs money in lost productivity in the intervening period. It also adds a great deal of risk, since there is no guarantee that the new employee will be of any value or, if they are of value, that they will be a good fit. Yet a lot of businesses don't seem to realize the impact on the bottom line because churn is not broken out when the accounting is done. Rather, it is a bunch of different expenses that fall in different categories -- if they are even recognized as expenses to start with.