. . . I see this everywhere, it's systemic... and these same employers whine that employees have no loyalty... Loyalty is earned, which in the case of an employment contract translates directly into BOUGHT. If an employer doesn't pay for it, they won't get it. If you consider employees disposable, you get disposable employees. And that churn is horribly expensive, and utterly destructive.
Don't get me started on this. My only argument with you is that "translates directly into BOUGHT," if by bought you mean strictly in terms of salary and/or benefits.
There was a time, and when I started my career in the mid-1980s I was of the generation that experienced the tail end of this, where employers were loyal to their employees. This meant that when things like economic downturns occurred, contracts fell through [I started with a defense contractor - hated the industry, though], or similar you were not RIFfed (Reduction In Force) mere moments after the event. You would be kept on payroll, often for months, because there was a realization of two things:
1. This, too, shall pass. The next contract will come. The slump due to a competitor getting a jump on {product X} is not likely permanent. Etc.
2. Having people who not only know what they're doing, but who also know "the company way" of doing things (regardless of the company), and who have what I've previously called institutional memory which allows them to ramp up much more quickly and avoid mistakes was considered a major business asset.
I remember quitting my job at AT&T in the late 1990s mostly because even those of us who had over a decade of experience with the company began to be treated as interchangeable parts. I remember having a heated argument with one of the supervisors on my project, and adamantly refusing to give estimates in "man hours" because there is no such thing as a generic "man hour." You have to know the staff you'll have working a project in order to have any hope of putting together anything vaguely close to an actual timeline that can be met.
I never regretted walking away from the programmer-analyst and database administrator worlds.
I learned, over time and too late, that no amount of money is worth becoming so soul sick about a job that you question, every morning, whether you have the strength to go in to the office today. I've quit several jobs secondary to that becoming the case, and have never regretted having done so.