For arguments sake, at 0% inflation, or even negative inflation (deflation) your employer can fire you and feel fairly confident that they can always hire you back at the same wage – or even at a discount.
Businesses can quite successfully pass on inflationary costs with higher pricing, and investors are likely to see returns and share prices rise in line with inflation.
Meanwhile, there is no benefit to employees, as inflationary wage growth is eaten up by inflation in their expenses.
For arguments sake, at 0% inflation, or even negative inflation (deflation) your employer can fire you and feel fairly confident that they can always hire you back at the same wage – or even at a discount.