I don't know what your company is, but it may not have a reputation for paying well. I've worked both at well-paying FAANG companies and lots of BasicAverageTech companies, and the candidate flow is night and day different. There is no shortage of people that "know the basics." In fact, there is no shortage of really strong candidates. They are out there, looking around to job hop like everyone else. It's just that they are probably just not applying at your company. Not that you can personally do anything about your company's compensation, but that might explain it.