It literally just has to create job openings and have its recruiters reach out the employees with attractive offers.
And there's nothing dishonest about that whatsoever. As I mentioned in another comment, Masimo had revenue of $1.24 billion last year. They're not a tiny mom and pop company. It's their job to pay their talent enough, and treat them well enough, so that they stay. If they fail to do so, then that's on them.
(And of course, companies undervalue their employees all the time. It's why the best way to progress in your career is often to be constantly switching companies, because another company will pay you what you're worth when your present company refuses.)