I tend to believe that one should try to be much more than a "bench-warmer". Yes many companies do not seem to recognize employee contributions when review time comes around. However, You can always mention such efforts in your resume or use a coworker as a reference. It's unfortunate that in order to get a decent raise, you often need to "jump ship".

I just got myself a 58% increase in pay when I left a company I had been with for 4 years. My last company had a cap on raises of 1% a year, and that was implemented after 3 years of wage freezes. For those 4 years however I was quite happy. Even given the monetary situation. The work we did helped people, and often saved lives. For me the decision to leave was made by a desire for a greater challenge, a need to further my career and knowledge, and needing to have money to save for my wedding next winter.