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I've worked for companies that do this, although it's not publicized so I can't point you to a press release or something. Usually a very strong indicator is to look for companies who publish salaries, either publicly or to all employees. It's almost impossible for a company to underpay people when everyone knows everyone else's salary.

I believe Adobe is known to aggressively hand out raises like this. Here in Utah, at least, it's extremely difficult to get Adobe engineers to switch jobs.

Stitch Fix also does that, at least in the data science team.