So you saved the company $10k a month and got a $200 meal in gratitude? Awesome.
You seem to be assuming that a $200 meal was the only compensation the person received, and they weren't just getting a nice meal as a little something extra on top of getting paid for doing their job competently and efficiently.
But that's the kind of deal I make when I take a job: I do the work (pretty well most of the time), and I get paid. If I stop doing the work, I stop getting paid. If they stop paying, I stop doing the work. (And bonus, literally, if I get a perk once in a while like a free steak dinner that I wasn't expecting)
It doesn't have to be more complicated than that.
Of course the truth is more complicated than the sound bite, but still...
That's independent of pay scale.
Granted, if you pay way below expectations, you'll lose the professionals over time. But if you pay lavishly no matter what, you get the 2021/2022 big tech hiring cycle instead. Neither one is a great outcome.
There is no single mechanism that does. Paying well is always a component in attracting talent (see my original comment)
It is not a guarantor of quality/motivation. That's ongoing leadership work. And part of that is maintaining/kindling pride in people's work (and firing the ones who are just there for the money)
Don't assume that a steak dinner was the only recognition we got.
As far as comp: I was well taken care of, and I won't discuss more in a public forum.