Well put. It also makes zero fiscal sense to lose an experienced, onboarded and productive employee due to tiny/non-existent raises, to then have to spend more

Well put. It also makes zero fiscal sense to lose an experienced, onboarded and productive employee due to tiny/non-existent raises, to then have to spend more money finding, interviewing, hiring, onboarding, and pay the new person more- but companies seem hell-bent on perpetuating that cycle as well.