How to fix this...
In my humble opinion, there is only one to way to fix the problem.
Let's first have a look at what the problem actually is: it is a lack of lifestyle. I don't hear anybody complaining about the money we get. Yes, we don't get enough for the amount of flying we are doing, sure enough, but if we would work a normal 80 hours roster with the current pay, nearly everybody would be happy or at least content.
The solution to this problem looks like a catch 22: we are suffering from these conditions because we don't have enough manpower, but we can't find enough people and people are leaving because we are suffering from these conditions.
The best way to overcome this problem is a massive change in basic conditions: we go back to 80 hrs/month for the basic pay, no restrictions on rostering and while we are at it, get rid of the flight pay and the bid groups... they complicate matters for no good reason whatsoever. Also, we introduce the old credit for duties again, 2.5 hrs for leave, 3.5 for STBY, minimum 3.5 for flights etc...
These actions would result in no lifestyle change initially, but a good pay rise due to the overtime. It would prevent people from leaving, because the pay at the current levels of work would be really good. It also sends a message as what the company is aiming for: back to 80 hrs contracts. Only this way will we be able to retain people and hire new guys at the same time. As more people will join EK, the overtime would slowly become less, so the money earned per month would come back towards what we are earning now, but this with a normal lifestyle and 80 hrs per month flying. Mission accomplished.
I do realise that this would take at least 2 years to accomplish, probably closer to 4 to get the right amount of crewing in. I also realise that short sighted managers at EK will never go for the long term solution, yet this is in my opinion the ONLY way to handle the current situation.