Did you notice that Allstate's switch from a place where you could have a career to a job with zero job security happened gradually? At one time you could build a successful career here, then it became mostly a regular job with a one-off promotion and occasional raises. Then we kissed promotions goodbye and bonuses became smaller and rarer. And now we are at a point where we don't even know if we'll have a job tomorrow nearly every day. I guess this is why most people stayed - they pulled the whole "boiling frog" on us.
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Had 35 years with the company, bled Allstate Blue 10 more years and I would retire. Bonus level manager that work my AZZ off for years - only to be told - "you should ALWAYS have your resume updated and ready to go" i was dumbfounded - and said - "so we don't buy a house or a car or anything because we there is no guarantee REGARDLESS how well i performed that I will get to retire with Allstate?" Anyone over 55 nd has 20 years have a target on their back.
Many people stayed because they're either close to retirement or making too much for other companies to match for the exact same position. They will probably just bite the bullet and put up with up. But at my old office, the younger and less tenured adjusters have been leaving the company in waves because they have less to lose.
I feel bad for those who aren't close to retirement but have been there too long to go anywhere else without taking a significant pay cut. They're the ones most likely suffering from the boiling frog syndrome you described.