No, he doesn't. The full list from him includes:
Am I happy with my job?
Do I like my manager? My team?
Is this project I’m working on fulfilling?
Am I learning?
Am I respected?
Am I growing?
Do I feel fairly compensated?
Is this company/team going anywhere?
Do I believe in the vision?
Do I trust the leaders?
The sooner you become consciously aware of it, the better.
Not to mention that your answer implies that people only do things because of some list of personal criteria -- e.g. that they always take conscious and/or rational decisions.
Wanting to move to a different area for any number of life reasons
Wanting to change to a different career entirely
Need to take time off to deal with a new child, a sick relative, etc.
Finding an opportunity for something you can't offer them, like a chance to start their own company
And about a hundred other things that I couldn't imagine.
His job as a manager doesn't really include making sure your children don't get sick, or convincing you that California weather isn't that nice, or that you don't really want to have the life goal of starting your own company. I'd saying restricting the list to questions that a manager could have an impact on is more valuable than a more generic list that encapsulates everything.
Being fairly compensated and being adequately compensated are two different things. Sometimes you have to pay more than what is "fair" to keep people. Fair is tied to market forces, forces that assume people can/will move between jobs. To stop people from falling prey to market forces and leaving you need to pay them above the going rate, beyond fair.
An extreme example of this is where the fair/market rate is zero, or even below zero. People like interns on film/tv productions are paid nothing, sometimes for years. There are even examples of people paying for the opportunity to work without pay. If you want such people to remain loyal you have to pay them something, which would be more than the fair/market rate of nothing.
For an example of negative market rates in the medical field, see http://thetab.com/uk/uclan/2015/10/04/is-uclan-elitist-1193
"There has also recently been criticism of work experience placements in a private hospital being sold for £500 per week, which would help students improve their applications to study medicine at university."
But such markets are only approximated in practice, and the interesting part of Economics is studying the effects of how actual markets differ from being perfectly free and efficient.
Conditions leading to a shields down moment for someone switching to job that might be preventable by management is pretty well contained by this list. It doesn't account for life goals or circumstances that drive you in a truly different career path.
In one example in my career, a big employer was trying to change its culture, and set up a group to change its practices. Hired a lot of good, pretty expensive people. And it all worked well for a while, until one person decided that grass was greener somewhere else. Losing a teammate led to another, then another. The people that left had new employers, and happily recommended them. Others that were happy before were less happy with enough good coworkers gone, as management did nothing to special to keep them. In 6 months, everyone in that change initiative, and a lot of other employees they had contact with, were all gone. They ended up having to outsource everything said department was doing, because too much of the knowledge and expertise had left.
So beware when people leave, because coworkers leaving can a very common trigger for shields to go down.
It's weighted by whether the coworker was good or not, which makes you wonder if he knows something you don't. THAT'S when you start sniffing around and discovering other things that say yeah, he was right and it's time to bail.
Rands lists the major ones, but there can be dozens of others. I personally call them "red flags" and once I see enough, it's resume time. I've tuned my own threshold pretty well and walked away from some perfectly good jobs and companies, only to see them implode in my rear-view mirror a year or two later.
My current employer, who has treated me well to date, just went back on a promise not to move the factory to Mexico. At the announcement they promised not to relocate Engineering. I updated my resume over the holiday break.