If a company places it's headquarters in a HCOL area and requires everyone come in 5 days a week, then yes, they have a responsibility to pay a salary high enough that their employees can survive there.
If employers don't like the fact that COL is too high, THEY can go ahead and march on city hall to advocate for political action. Companies have a MUCH larger sway with local politicians than the average employee does. That, or they can increase the salary or change the attendance policies.