Money matters, certainly. But simply throwing money at the situation will not work.
Money will help sustain any implemented change, but first we need change. Nobody trusts management anymore, nobody! It has been lost permanently. So a change in management is primordial. The actual protagonists can not stay if any change in the lethal erosion at EK is desired. We all know who has to go and it is simply up to HH to go ahead. As long as he is so distant to reality, nothing can happen, even a 20% pay rise will be simply taken, but no change will ensue.
The recruiting problems originate not only in the unattractive package, but more in the negative propaganda among pilots. Such mouth to mouth transfer of experience and knowledge is widely underestimated, because it is relatively slow to show. But once it does, it is even slower to go away if desired, because it is completely out of control of the companies and its cronies, it is entirely in the hands of the pilots themselves, especially of the ones in the respective company. This will haunt each and every manager, because it is so out of his control. Therefore the panic actions on all levels at EK, to show they are doing something, even though it is futile. Control is very much lost at Emirates Airlines, the control by TC and by AAR! They are doomed, and it is self inflicted.
A new team will be faced with multiple problems. I think the fast track to gaining the employees back to more or less function normally at least for some time, would be to cancel some flights as to give everyone some breathing space: Contractual leave for pilots, no overtime obligation for mechanics, humane rosters for FAs. If some think that this is inconceivable, then i would simply remind the situation with the runway closure. EK handled this quite well, so a similar response to this equally threatening problem can work.