Compensation changes – is it just me?

So, I've been with Align for a few years now and usually, the comp discussions are pretty straightforward, tied to performance reviews. But this past cycle felt... different. The standard merit increase pool seems smaller, and even those who usually get a decent bump are seeing much more modest adjustments. I've heard some chatter about a push to "realign" compensation to market, but it feels like the market is moving up and we're moving sideways, if not down. Has anyone else experienced this? Are the performance metrics being used differently, or is the overall budget just tighter? It’s making me question my future here if my compensation isn't keeping pace, especially with the cost of living going up. Trying to understand the strategy behind it, if there is one. Anyone in a similar boat or have insights from HR or management on this? Curious to hear what others are seeing.