Douglas Klein of Sirota Consulting contends it’s a company culture.
Others, like Wayne Hochwarter, a professor at Florida State University maintain it’s about the bad boss.
In reality, it’s a combination of both. Leaders must create a corporate culture where employees feel respected and empowered. But even with a positive culture, a bad relationship between employee and supervisor will cause the employee to leave, or sick another position in the company.
I always counseled the follow to employees who work for large companies: don’t transfer solely because you don’t like your boss, because supervisors tend to move around frequently, and you could end up working for him or her again.
What goes around, comes around.