For the younger generations, after watching their parents work 20+ years at the same organization and receive a cheap watch, they have no illusions about who will be providing the loyalty and who will be receiving it.
Even not firing people in recession times, providing four monitors or free massages and lunches are not loyalty if they make workers more productive or attract better talent. It would be loyalty only when these actions cost the company much more than they benefit it, as a gift to the employees out of sheer good will.
Or worse, a pink slip.
Why? Because by job hopping, you'll find the company willing to pay the most for your current skills, but you'll forgo promotions that would allow you access to even higher-paying jobs.