Stack ranking is more popular in FAANG. I just don't think musical chairs should be used as a means of "motivating" or "refreshing" talent. It's efficient, but not very "humane."

Paid overtime is common in US federal government roles. You can be a FTE/salaried employee but work more than 40 hours/week and either get paid time (I don't think they do time and a half) or bank the hours for PTO. It's an incredibly fair arrangement but again I haven't seen it outside gov.

The notion that developers need to be in the office 5 days/week is an excuse peddled by the business- if you really are in a situation where the business loses money or comes to a halt because "it's Friday and all developers are out of the office", I think a change to the SDLC is warranted. It's already a common rule to change-freeze on Fridays for this reason. Additionally, there could be a system where some developers are working M-R and others are working T-F.