From what I can observe, I would say that's often the case. We are a small organization, and another of the rules is that you can't create too many levels, become too hierarchical, and so on. So for employees who want and who deserve a promotion, often the only way to get it is to go to a much larger organization, where there are promotions and a level up. That has happened to many employees recently, particularly in our investigation area.
The managers move on because they can get promotions when people see the skills they have, and the employees move on and obtain promotions and so on. So there we are, back hiring people.
I'll add that in our particular case, because we're looking at privacy files, there's now a six-month wait for secrecy clearance.