The more workers you attract, the higher your standards for hiring can be. That goes for any job, including jobs of passion. If you need to fill three positions and get three applicants willing to do them for shit pay… odds are your applicants are shit too, or they’d be going for better paid positions.
If you offer more, people with better qualifications will be interested more. You get more applicants and can be picky who you want.
As a bonus: better paid employees have more incentive to stay and do a good job to ensure they keep their position.
About fucking time for that