This also happened to me at my current employer. In fact every year they review all employees salaries compared to the market rate and compensate for any difference with a raise. This was in addition to the yearly raise based on a performance review. I think companies serious about retaining talent are starting to employ this practice.
Curious, do you know what data is used in order to estimate the current market rate for a given position? As an individual employee I am very interested in figuring this out for my local region, but I really don't know what data sources are accurate.
