Respond to the following:
What are the factors that would make you most likely to quit a job?
1. Poor Benefits Package (ie, medical/dental, 401K)
2. Low wages and compensation.
3. Poor Management and Company Policies.
4. Unstable work schedules.
5. Unpleasant work environment.
Is the relationship between your pay and your perception of your performance a reason?
It will be a reason, in today's generation our economy is being driven by the job market. If you know that you are not being compensated enough on the job that you are doing then chances are you will not last in the job. Employees ultimately need to take responsibility for their own careers, but employers and managers should also understand what career management methods are available.
What could your organization do to keep you?
In that sense, all of the factors above would not make me stay on that company. There's no such thing as a perfect place to work. If you enjoy what you do then that would be a plus. But if you enjoy your job with less pay chances are you still be searching for a more competitive job ("in search for greener pasture"). Another example, if I was a part time employee and was being offered to be a full time employee with benefits I would probably take the offer.
A comprehensive approach to retaining employees should be multi-faceted and include improved selection, a well thought-out training and career development program, assistance in helping employees lay out potential career plans, providing employees with meaningful work and recognition and rewards, promoting work-life balance, acknowledging employees' achievements and providing all this within a supportive company culture. For employers, promotions can provide opportunities to reward exceptional performance, and to fill open positions with tested and loyal employees.