I run a business in Social Democratic Austria for nearly 29 years. I've had employees for 26 of those years.

Severance pay and legal notice for our longest employed team members (10+ years) is several months severance and 6-8 weeks (IIRC). That "giving notice" goes both ways, and that is important.

As an employer, I want a team focused on the complex technical work we do here, not worried about the whims of some middle manager. This is great for long term team building. Since it is not so much of a dog-eat-dog world here, we are more than the sum of our parts. That is a massive competitive advantage.

People came to me during lockdown and said they WANT to come back to the office, because of the work climate. Part of this climate is knowing that noone is going to be "disappeared" on a Friday at the end of a bad quarter, as happens all too often to our US colleagues.