Well, right now companies have to compete with government benefits in many states. Benefits that exceed the free market wage by a significant margin in most cases.

Why would companies raise wages now when they can wait a few months to see if the situation changes?

People seem upset by this, but if you have a free market economy, you should anticipate that actors will work in their own best interest.

Changing regulations around compensation will be much more effective versus hoping that a company will act on a specific moral principle.