Leave the salaries alone, thats not the problem! When your having a retention and recruitment problem, first stop the rot.
Stop the guys leaving, that solves half your recruitment problem at a stroke...Then you don't have to create a devision amongst the pilots with pay and cause more guys to feel of little value and leave.
Stop the rot and make this a place that people want to stay in and once again you will have EXPERIENCED guys wanting to join and at the current rates.
The race to the bottom only leads to one place....the bottom.
10 years ago we had plenty of time off, rested pilots, happy families and no retention or recruitment problem. Its not rocket science, treat people well they will give you their best and more. Treat them badly and the ivory towers of Costa will eventually crumble.