[mungoid]

This also gives the current employer the benefit of doing nothing preemptively. It puts the onus on the employee to go through all this extra effort just to get the match. I'm sure plenty of employees take it too but shouldn't.

[cloverich]

While true, changing jobs has a cost for the employee too. Its a cost benefit analysis. I often find being in a new job provides opportunity to quickly level up by using learnings from prior jobs. But sometimes the new job is just different enough that you're investing more time in learning the ropes and making connections than getting ahead, and it can be a while before you can start to have an impact. If you're already capable and empowered at the current place (or better yet, promoted by the counter offer), it can be mutually beneficial to stay beyond monetary reasons.