Incentivizing the profession is the way to go; it has to be. It isn't just pay, it's also say, benefits, support/administration, academic and professional autonomy/respect, and so much more.
But direct compensation is what is going to get them there, while the institutional supports are going to keep them there.
Here in Ontario, it was a solid job on both counts. In the last few years, tho, the latter has been crumbling and the numbers are dwindling and shortages are being faced in places where you could be a sub (requiring a teaching degree) for 5-10 years before getting a full time gig.
This says much about the state. None of it good.