It certainly is possible, and certainly not the easiest path, but possible. When I started in my current role, we had about a 30% retention rate with 30 heads, I grew that to 200 heads over 2-3 years, but still had about a 40% retention rate. Today I'm somewhere between 85-95% for the last 2 years, quarter over quarter. Keep in mind, I'm Rockwell, NC trying to do pharma/otc/med device work, and still at best a micro cap business. I can't compete with Raleigh/Charlotte wages or the big boys in the space. There were some adjustments for covid wages, but pre-covid I was lower 30% of wages and today I'm in the lower 30% of area wages, so it's normalized. As cliche as it sounds, changing the culture was my magic bullet, and when it came to recruiting, selling what we do have to offer. Biggest selling point is I'll grab someone off the line or given department and pull them in to the interview and give them a few minutes with the candidate alone. I'm told that little party trick is usually what sells it, to have the balls that a random employee is happy enough with the culture/environment that they don't leave for a job paying 50% more 30-45mins away and express that happiness. Having a bank roll certainly makes it easier. I've done turn arounds like this before with billion dollar companies, with 1,000+ heads and open checkbooks, and it takes 6 months instead of 5 years. I've come to find out, most people just want to be treated like people, have stability, have accountability, do their job and understand what's expected of them. Personally, my first hour or two every day is spent in at least one of the plants/warehouses...if that means I roll up my sleeves to help a maintenance tech, or plunge a toilet for the janitor, or picking an orders, or 'racing a work center', or just observe and ask about weekend plans/grandkids. That certainly affords a ton of loyalty and buy in to 'the vision'. One of the most frequent 'thank you's' I get though, is carving out cancerous and apathetic employees. I don't care if you've been here a day or a decade, you get one warning to get on board. I figure if employees can show up, with a good attitude, I can teach them the rest.
Edit...but if you're specifically talking feds...yeah, we're fawked there.
Double edit...as an example, I recruited a robotics maintenance engineer away from a role he was making $200k at, I was only offering $100k. But it was an easier way of life for him to come to me and my people reinforced that to him. Well, his employer countered and bumped him to $250k and promised an improved work/life balance. So he stayed. Just got a call from him after 6 months saying he made a mistake. His start date is March 6th.