Several companies I know seemed to lie and use Covid as a convenient excuse to not give out raises (or give shitty bonuses, etc) to save money in the short term. Meanwhile hiring and earnings don't match up to those actions.
This phenomenon definitely has made me want to leave my job. I would consider myself the most important member of my team but would guess I am making a median salary on it. Time to brush up on my political speak and whiteboarding
so either you're not as important as you think you are, or you're being ripped off salary-wise. Both are reasons to move tbh.
Anything else is a decoy. Words != actions.
My understanding is that retention bonuses are the norm during bankruptcy. Of course, I understand the reason for that. But the reasoning is pretty clearly "we're betting on you not being mobile enough or irreplaceable enough".
Of course it is a bit cynical, and maybe some companies are acting different. But in general I think the cynicism is justified.
[0] https://on.ft.com/3rfL1n4 (paywalled, but link bypasses)