It's become cliche for companies to complain about a talent shortage while wage statistics don't rise in response. I've heard restaurant owners complain about not being able to attract and retain quality wait staff while they pay the tipped minimum wage (less than $3 per hour).

This attitude has to change.

If a company can make significantly more money by hiring someone, then they should be aggressively increasing wages to signal to the market that they are serious. It's basically refusing to participate in the free market, or a complete lack of understanding of how markets work.

Business managers frequently act like they understand economics better than economists yet this attitude should telegraph a level of cluelessness that makes them unfit to manage a hiring process.

Everyone wants to pay less and get more talent. If you can't afford to pay more then compete on other aspects---allow remote work, more flex-time, and so on. Try something different in your interviews. Offer apprenticeships.

Sometimes it's not even a pure talent shortage that force increasing wages. In San Francisco the housing shortage and lack of support for new construction wipes out a lot of gains that come with higher salaries.