Although I haven’t faced this situation personally, I can imagine that retaining skilled crew members under budget constraints requires a blend of transparency, creativity, and a strong sense of camaraderie. Open communication is crucial—letting the team know the challenges you’re facing and showing appreciation for their commitment can go a long way. Exploring creative solutions, like flexible schedules, offering future collaboration opportunities, or finding ways to add value outside of monetary compensation, can also help maintain morale. When people feel valued and invested in the project’s vision, they’re more likely to stick around, even when budgets get tight

In my experience yes of course you can consider flexible hours or profit participation or deferred earnings but everything won't work if you did not manage to have with your crew and frank and open communication channel. As long as I could see we are all aware that this things can happen and we are all here for the long term (I always say this business is a marathon not a sprint) so if you are transparent and you had always shared the good and the bad with your crew (or at least with you HoDs) I am sure that in the moment of need you will ripe the rewards.

To retain skilled crew members amidst budget constraints, implement a "creative collaboration initiative." Invite them to pitch their own projects, offering resources like equipment access or small funding pots. This fosters investment and teamwork, boosting morale. Additionally, organize skill-sharing workshops to enhance expertise and build community, showing that you value their contributions, which encourages loyalty despite financial challenges.

Oh HECK no. Pay them. If you can't pay your crew (that hired on for a paid position), shut down production, get more investors, and make sure the people you screwed are the first ones you can when you get the company up and running again. "Alternative compensation" models occasionally referenced are in addition to, not instead of, fair wage. Flexible hours in film production is a recipe for disaster. "Creative input" creates confusion and seeds conflict. Appreciation and networking should be already present (and it's no substitute for a paycheck). Deferred Payments are a scam you only get to run once. If you ever want experienced people to work with you again, you won't do it.