What make people to stay with organisation

We HR folks often talk about employee retention and implement various measures. We always scolded by management for our failure to retain talent pool and employee in the organisation.
We read a lot about different theory, employee engagement activities, counselling and all but if you ask me what is the most difficult to predict, my answer will be "human behaviour".
We conduct exit interview, pre-exit analysis, read HR group mail and SMS, asks seniors and copy different thing to implement.

Well, as I told in my earlier post, the best place to know what employee expect is public transport like bus and train. There, employees are not scared to HR or reporting head and they openly express what they want.
In the vening, I have only one train to reach my city from workplace, the Panvel - Dahanu road shuttle train. By a fraction of second, I missed my train to reach Bhiwandi and I decided to go back to Thane to catch a bus.
Just behind my seat, two friends were discussing. the conversation was like this:
a. Where do you work?
b. At Dadar
a. Do you daily travel from Bhiwandi? (It takes 1.30 hrs to 2 hrs for one way travelling)
b. yes
a. For how long you are working there?
b. for 10 years

on this b surprised and asked that for 10 years he has not changed job at all?
b. Didn't you think to chnage your job?
a. Before my current organisation, I joined another organisation. There office timing was very strict, 11 am to 7 pm. The management clearly told me that this is the policy and you have to stick with this. I could not continue and joined this organisation.

b. So what is great in this organisation?
a. I have flexibility to work. To get satisfaction I should enjoy my work and I am doing it. There is no time constraint, you can come any time, complete 8 hours and leave. This both flexibility makes me satisfied. Also, whenever we go for interview people ask why are you looking for change and the definite answer is "salary growth". Every time it is very awkward to give such reply. Salary is important but job satisfaction is more important.

b. how big is your company like Reliance, Tata?
a. It is a medium size organisation with 8 people in textile/ fashion designing and around 8 people in merchandising. Size of the organisation doesn't matter. Even you feel better to work in a smaller team. The company should not be so small or too big.

I was listening them very carefully. I was knowing this very well but, one thing was new here, enjoying job even with the smaller organisation make people to stay for longer time. Now people are more preferring for flexibility in terms of choosing timing of the job, lesser interference in their day to day work, freedom to choose own job/ working condition with proper increment. If you miss any of this factor, certain that you will loose your human assets.

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