Stop the herd mentality, and pilots will become sought after and well paid like accountants, doctors and lawyers
Accountants, doctors and lawyers have many 100's of companies/organisations in Australia looking to recruit them. There are only 3 airlines (4 if you count Jetstar) recruiting.
There may be a short term undersupply of pilots in this country and around the world but the easiest way to fix that will be to drop the bar and accept less hours into the right seat. Less hours in the right seat will allow pays to go down even further. Which ultimately means less pay in the left seat as these guys get used to being paid less.
I think that you need to lobby CASA to make sure minimum hours are fixed to prevent this occuring.