As far as I know, that equivalence betwixt "shortage of workers" and "not paying workers enough" holds for economists as far apart as Milton Friedman and John Maynard Keynes. That makes management's policy especially inexcusable.
Well, there can't be all that big a shortage anyway.
Last time I went to the US I found that supermarkets were stocked with food, gas stations with fuel, and lumber yards with lumber, so it seems that stuff is still getting from where it is to where it needs to be quite effectively.