It does happen here too of course but I don't think it is the norm.
I'd consider being more loyal to companies if it meant I'd be compensated properly for my work and time. But I've never gotten less than a 40% TC raise changing companies, plus other/better benefits.
In your country, the balance-of-power is slightly shifted toward the working class (at least compared to the US, as well as most of the developing world). Unions, for example, serve as a buffer to prevent the worst of the exploitation, but the foundational exploitation of labor remains. Labor laws, minimum wage, also exist for this reason, but do not change the fundamental nature of the relationship. Their mere existence and lack of inverse mechanics (i.e. maximum wage, for example) should tell you all you need to know.