[paulcole]

If a company does all those things and the employees are happy to keep working there, how can anyone argue that they're under compensated?

Pay is part of compensation and compensation includes what going to work feels like.

If I'm at a reasonable level of pay I'll absolutely optimize for work that feels enjoyable vs. wringing out a few more dollars. And my definition of reasonable is quite low (intentionally because I live as cheaply as is possible in the US with a chronic illness).