ever wondered how DXC gets away with promising pay increases but never delivers. I think snr mgt work on a simple theory that new employees will take a few years (maybe 3 or more) to figure out that the pay promise is an illusion and leave.
Those that leave are replaced with new employees that again believe for a few years that pay rises will happen and then leave and the cycle starts again.. Those that don't leave after a few years accept that lack of a payrise but consider other reasons for staying.