Yes, we tried. And we generally succeeded. We fed info from applications/resumes into what was at the time a realtor's database that told us approximately what an applicant was paying for rent/mortgage, and we had some algorithms that looked at their previous jobs, credit report, and other information and figured out for us what we'd need to offer them and what we'd need to pay them to ensure they had to take on debt. Our under-the-table discussions with other employers, carried out through various media, assured us that they were all thinking the same way, so there was no demand to worry about.
Plenty of evidence bears out the result of this program, which has been widespread and generally going on for a long time. Just google "monopsony power" and you'll see how the employer/employee balance of power has been steadily shifting in favor of the employer. Why would that be happening, if it was just me doing this sort of thing? Most employers (though certainly not all) do stuff like this.
Why? Employees who have a burden of debt stay in their jobs and shovel whatever BS we tell them to shovel, whenever we tell them to shovel it. And that is absolutely the ideal. Want someone who will get up and get on the clock when you call them at 2:30 in the morning--five nights in a row? Need someone who will cancel their family weekend or vacation at the last minute if you need them to do so? Need someone who will work with a 105 degree fever if you need them to? Make sure there is a huge threat--and that threat is lose your house, your family on the street, starving. That's the point. So long as I could create that as an employer, I knew I could literally get my people to do whatever I wanted them to.
For the most part, skills are nonsense. You don't want someone to develop them--that costs money. Just fire whoever doesn't have the right skills and hire someone who does. As long as I know that a sufficient number of employers are doing the same things and acting the same way, that's all that I need to worry about. With that threat, I can guarantee that my employees will develop whatever skills I need them to have in double-quick time, on their own dime (taking on even more debt). Again, all of that is the point.
Well...bracket that for a moment and your answer will be forthcoming shortly. What, in market economics, stops something like this from happening? This was an implicit agreement between me and other employers in my markets to act a certain way so as to remove, as much as possible, all the power employees might otherwise wield--and if they have any power, it drives labor costs up. So long as they have no power, they'll work whenever I want them to, (bringing all their skills with them) for much less, and you'll never have any trouble getting employees whenever you need them.
But from a market economics perspective, what does it matter how I figure out what offer to make employees, what I offer them once they're on the job, and why they accept it? That's all just our business, isn't it? That's between me and the employee, right?