No amount of money is going to keep someone who has burned out on high stress
Yes it will. They are leaving because the pay is not worth the stress. More pay makes it more worth it.
we don’t have a shortage
Yes we do, there are not enough nurses to keep hospitals running at their designed efficiency. And the government is purposefully not paying more to fix the shortage because they want public healthcare to get worse so they can sell us on private healthcare.
We do have enough people qualified to be nurses in the country to get our hospitals back in shape, but when you can make more money as a waiter the incentive to keep nursing is low.