The problem is that pay cute are a huge feel-bad moment; many employees who are otherwise perfectly happy will simply quit rather than accept one. Some companies did it anyway in the first RTO wave, typically under the fig leaf of location-based pay. Others look towards a less disruptive strategy (https://www.npr.org/sections/money/2022/07/12/1110510488/lea...) of slow rolling raises and inflation adjustments for remote roles.