Many surveys show that pay, by itself, is not the key to retention. It's part of retention, but not the only part. Feeling valued, feeling aligned with the company's goals, feeling fairly treated, etc are also a big part of retention.
The Gallup Q12 employee engagement survey was quite popular about 10 years ago, and Gallup claims that it can be used to understand the things that the company needs to do to aid retention. The questions in the survey may give you a feel for what people are looking for. I'm evidently a technological troglodyte, and therefore unable to post a link to the questions, but a quick Google search of "Gallup Q12 questions" will get you there.
The Gallup Q12 employee engagement survey was quite popular about 10 years ago, and Gallup claims that it can be used to understand the things that the company needs to do to aid retention. The questions in the survey may give you a feel for what people are looking for. I'm evidently a technological troglodyte, and therefore unable to post a link to the questions, but a quick Google search of "Gallup Q12 questions" will get you there.