Why is attrition so high in companies?

In today's world, it is one of the biggest problems that any company is facing. The attrition rate is too high because I feel that the gap between companies and employees is widening even when all measures are being taken. After I did some research on this topic I am trying to present both ends in this writeup. This is the feedback that I collected after talking to my friends from various companies..

As an employee perspective, I feel that
- The companies are not taking enough steps to provide fool proof plans that can make individuals happy.
- No clear roles are defined in most of the organisations. Responsibility without authority is killing everyone
- No clear targets are defined for the team members.- In project based companies, the team needs to prove at each and every point. This makes them a bit frustrated.- The boredom comes if people remain in the same project for long.
- Office politics comes into picture and no one is their to listen to the grievances.

As companies perspective, I feel that
- The people always expect a lot for everything- The people sometimes don't deserve the things that they are getting.
- The process cannot be improved for individuals in a day and if they start taking steps today, it will take atleast a year to see the results. Employees don't try to understand and acknowledge that the things will change.
- People always misunderstand the policies of the companies.

After going through both ends, I think that the companies should target individuals and get their issues sorted out in the initial phase only. If they build up, then their is no turning back for anyone. The question then remains unanswered is "Companies are spending money but, are the employees getting benefit? really!"