The problem with salary and market rate is that the current rule is: in order to get a raise you need to change jobs.

In many companies (I worked in one) you need to get CEO approval to give somebody raise more than 5% ("CEO approval" means - no way). But there was a trick: you can re-hire valuable employees after a year with 20% to 50% increase in salary. And they will not even lose 401k matching or other benefits they have accumulated.

And system seems to work well: re-hired employee would be much more experienced and they came back like nothing happen.

So I do not know...