That's not too far off from what the military has done for a long time, at least for enlisted. We'd get small raises most years, and classes on financial responsibility.
That's the logic of corporate spending. They'll shovel out any amount, price no object, to avoid paying people what they deserve. Somehow they don't see the connection. Wasting money on nonsense is never a problem, but it galls them to think that employees don't want to work for free, just out of loyalty.