The answer is **The Great Resignation**. Corporate leadership has PTSD from 2021. "Tribal Knowledge" walked out the door. They learned that when a manager leaves, the instruction manual for the department leaves with them. The current wage disparity is an insurance premium. We are not seeing a wage-price spiral. We are seeing a **retention-price spiral**. The inflation in your company's payroll isn't coming from new hires. It is the cost of keeping the old guard in their seats.