Most work these days is done on a temporary per project basis so really employee longevity is far less important than it used to be. Imagine code management before there was even CVS much less Git. Our practices and tools from git to agile enable us to use completely temporary teams so the leverage employees used to use to achieve longevity is largely gone unless you have some serious technical debt like you still don't use git.
One of most common and toxic cultures on tech fits with this article: Google's "free lunches foosbal tables long hours" pleasure island approach. Pat them on the back, give them a lunch just for participating, make them work easy more than 40 hours for free.<p>I much prefer a normal 9-5 job that doesn't give out free perks and expects results, but lets you have your free time after work.<p>Not all millennials need coddled. Some of us were given a shovel ad kids instead of a participation award and told to work until it's finished. Hire those ones and leave the rest to the companies that attract people who actually think a free meal worth their freedom.