Oh that's a really good way to handle it that would actually follow the intent of the program.
You can't find someone to do a job? Then you need to compete on wage with other companies to bring someone in. Or, you know, raise your salary for local employees.
A simple stack rank and cut has the problem of where to draw the line.
Also, how to value pre-ipo stock
There are other good options as well (an auction, etc). They all have problems, but there are mitigations. It could be vastly improved even if it’s not perfect.
Another problem: different industries and roles natohace different pay ranges.
If you decide on a single pay cutoff software engineers will starve everyone else out. And there are of course great, well paid people in other hard to hire industries.
Something about those industries would change. They might charge their customers more or train up more people or get more creative with technology. Or the market might decide it can do without that additional productivity from those companies.
You can't find someone to do a job? Then you need to compete on wage with other companies to bring someone in. Or, you know, raise your salary for local employees.