Hiring and the dichotomy of payroll expectations in manufacturing?

A manufacturing company with a stable team—many employees have been with the company for 10–20+ years—now looking to hire 1–2 experienced hires and 2–3 trainable, entry-level team members. Facing the challenge of a changing labor market, especially with wage expectations increasing faster than productivity or pricing can support. What are the most effective current strategies to attract and hire manufacturing talent (both experienced and entry-level)? How to balance fair pay expectations with internal equity and operational constraints? What sourcing methods (job boards, recruiters, referrals, trade schools, etc.) are producing results in 2025? What realistic incentives or benefits are candidates valuing most in this environment (beyond just pay)? How do you ensure cultural fit with a long-tenured team while bringing in new talent?