[snip] the employees are going to damned sure be loyal, because they won't have a choice... as you've aptly pointed out, where the hell else are they going to go that pays that well for so little?
Golden handcuffs are still chains of bondage, that is true enough.
At least they'll have an opportunity to make some intelligent decisions about their extra income, perhaps some might start that nest-egg towards retirement they've been wanting to kick off but haven't had the funds to do so until now.
As a general comment, life can be pretty tight financially when earning less than $40k. For example here in Auckland I'm paying $35kp/a just in rent for a nasty cold 3brm house with no heating/aircon, no carpeting, peeling paint and a bushy garden/yard that costs me another $1.5kp/a to keep tidy.
Those golden handcuffs on offer sound