Earlier quoted context omitted.
I've worked at those kinds of organizations, read the documents, put in the work, and got promoted...by switching companies :). In my experience, the companies that do have those documents (and not all do) don't actually really use them or make much reference to them in 1-on-1's or reviews. That's because management's perspective is that they are interested in how well you are doing at the job they hired you for, not…
In my experience, I've seen plenty of promotions from within (and experienced my fair share as well). They just take a while to happen. But then, I've been at multiple companies for over 5 years. That's probably about how long it takes to watch someone grow from an individual contributor into a leader, including leadership skills as well as building reputational and political capital across the organization. Patience…
Your anecdata doesn't align with actual studies that indicate frequent job changes as the optimal strategy for maximising income.
Your loyalty isn't worth anything to your employer in the current market. Those times ended several decades ago.
Here's some counter anecdata: after graduating, I doubled my salary and seniority twice in 3 years with two job hops. If I stayed at my first employer, I'd be lucky to be making a third of what I am now and none of the career prospects that have become available.
I'm in my mid 30s and have a seniority level that lifers at my current employer hope to achieve sometime in their mid 40s if ever.