Wasting company time attracting competitors is surely a violation of your fiduciary duty. I don't pay you to sleep or eat, so why should I pay you to interview? At our competitors no less?

For anyone reading this thread seriously, the job market is fine, feel free to market your skills. As a rule of thumb, if your employer didn't agree to the raise till you presented a counteroffer then you should almost always leave. No matter what your employer said when you started or thereafter, if you're doing a fantastic job the "once per year" bonus/promotion cycle is bubkiss, and they will absolutely compensate you accordingly (on the flip-side, if you haven't been hired yet, don't start underleveled with a promise of a promotion except in dire circumstances; this has been hashed out before, but reply if you want more details).