New Delhi, Aug. 9 -- Decades ago, remaining at a single organization throughout one's career signaled strong dedication and professional achievement. Today, widespread workforce reductions, escalating pay expectations, and the trend of switching roles regularly have significantly weakened corporate retention strategies. Nevertheless, billionaire fund manager Bill Ackman contends that businesses must continue allocating substantial financial resources to keep their top-performing talent on board.

Ackman's hedge fund Pershing Square, which oversees about $35 billion in assets, provides its roughly four dozen employees with a range of attractive workplace benefits, including broad ownership opportunities and an unusual degree of flexibility...