Certainly there's a lower bound at which a business owner won't be able to staff their restaurant, but that lower bound isn't one penny less than the status quo. Rather, there's some shitty middle region, where employees are generally dissatisfied with their wages but not desperate enough to leave.
The world is changing more rapidly than ever and the attitudes of young workers (typically found in the hospitality industry) is completely different than just 10 years ago. Even the concept "desperate enough to leave" is alien: If a better opportunity shows up you switch, there is no question about it. Just like you yourself will pump gas at a station with a better price than the one you pumped gas in yesterday.
There is absolutely no reward for sticking with an employer in this industry, if another employer has a better offer it's goodbye.
