I went back to work full time, after time off with kids, in 2010. I was already on UPS3 and Head of a small dept which wasn't going to grow, so I was on the top salary I was ever going to get at that school. I applied for, and was appointed, SLE, which comes with no money. I was not, and never have been, interested in being on SLT. I worked very hard, got excellent results, ran huge amounts of extra-curricular activities, made children happy, sent previously disillusioned kids off to university and drama school, got the school in the local press constantly (for good reasons) and was once described as "the beating heart of the school"
Oh, and I always met my performance management targets. But I never got a pay rise, ever.
PRP, for me, was pointless as there was literally nowhere to go, so what was my incentive? (obviously it was never the money, but hey)
A few years back, I could have applied to be an advanced skills teacher, but that disappeared.
I don't teach in schools any more. I'm not saying I left because of the pay - I didn't - and actually, I earn far less at the moment, but then, I also work far less. But PRP, or anything to do with teacher pay, unless the lid that is UPS3 is lifted, is never going to fix the recruitment and retention issue.