I have worked in several different industries and the same thing always happens. A bunch of people quit, write their resignation letters, management always blames the employee and a new one is found. Management CAN'T fix the problem because that involves spending more money (ie more people in a busy department) or buying more material/equipment, or anything that spends money. Companies don't want to ever spend money, and managers are told 'too bad, you fix it, that's your job' so managers are generally aware of how shitty it is, and don't care because they can't ever fix it.
Then, when too many people quit, the owner tells them this exact words: “You fix it so people stay and don't quit – but it can't cost the company more money, only your time because you are salaried. Maybe you should have 'extra' meetings (beatings) until morale improves?”
My current employer just forced all new hires to go to additional meetings and do additional work which just forced them to be more angry and resentful at management in a feedback loop. But at least it looks like the managers are trying to improve morale. And that's what is the bare minimum they need to do.