The bigger concern for me is lack of promotion opportunity. Not getting annual pay rises is fine if there is the possibility to getting promoted. In my particular role if I want promotion I would need to leave or relocate. That's my choice so I can't really get too high and mighty about it. I need to take ownership of my career but I do think Cisco doesn't put much effort into offering career progression options. At one meeting I went too it was made clear to me that promotions to the next grade were available...just I had to move locations. That's fine if you are mobile. Not if you have a family.
But again, if I want it hard enough I can always leave...which does mean that the motivated people with good skills leave and are not retained. Bad news for Cisco.
This is the main issue for me as well, @OjVZMaw-mby, and it should be on the company's radar. We have lost a few really good folks because no raise and no promotion sent them looking for greener pastures.