Start by looking at who you're competing with for talent. Civilian employers, airlines, AFRC, ANG. How does your pay and QoL/work rules compare?
- Hard pay (salary)
- Soft pay (per diem, hotels, health care, opportunity to work more/less for more/less pay, 401k/pension, Space A/deadheading options, education, etc). AD is better at this in some areas (pension/TRICARE until that goes away...) and worse in others (military lodging is mostly awful, compare travel on AD on a non-flying TDY vs FedEx deviating in international first/biz class, the disaster that is DTS and the JTR, etc)
- Total time away from home
- When away from home for work, where is that location? A nice place, an average place, or a shithole?
- Control over career progression and living location
- Crew rest, FAR 117 requirements, crew duty days, etc
- Leave/vacation
- Additional duties- how much work are you expected to do outside of your primary duty? Do you do everyone else's jobs for them? Do you take your work home with you? Does your employer pretend that all of its employees are equal?
Just a few things that came to mind, there are plenty more to add. It's going to be incredibly painful for the AF to acknowledge that it's severely lacking in QoL and work rules with respect to pilot retention. Throwing more money at the problem can indeed fix it, but it's going to take a hell of a lot more money than has been floated so far.