>People routinely give notice where i work, get significant counter offers to stay, and remain on as employees for a long time.

If this is true, then there are other issues at play here. Sounds like the company is paying well below market and getting away with it. 1/2 here or there ok, but if it's routine then it is a pattern that should be a sign to all the employees that the company is clearly taking advantage of their talent. Personally not somewhere I'd be interested in working.