Most companies are trying to hire people with more than 2-4 years of experience, but not 0-2 years of experience. They are far from losing all candidates to death or retirement.
The problem is that labor laws and practical considerations make it so that most other options are infeasible and/or illegal. Business model innovation in employment is basically illegal.
Professional sports take interesting and varied approaches to the subject, but even they are facing challenges (see ‘free transfers’ in the European football market).
