I will absolute do what I can to grow employees. But they have to want to do that. Not all employees want to climb the ladder. They do not want to become a manager, they do not want the responsibility that comes with lead or architect roles. That does not mean they cannot grow in their position. You can always improve your coding, automated testing, devops, not to say soft skills, learn a new framework etc.

Manager: “What happens if I train my employees and they leave?”

What happens if you don’t train your employees and they stay?

Why would anyone want a team who hasn’t updated their skillset since 2006? That’s the epitome of the “Dead Sea Effect”

Agreed, I think companies that foster an environment of growth and learning ultimately become more competitive in the market and have an easier time innovating, so its a big plus from the shareholder equity side, but certainly not their responsibility to elevate each and every employee.