Talking about compensatory picks is a cart before the horse argument.
You know what our real issue is? Hitting on our draft picks in the first place. The more draft picks you hit on to begin with, the greater your chances of losing someone who becomes a free agent.
Teams that draft well tend to get more compensatory picks over time because they bring in a lot of talent. The salary cap "forces" the talent to spread out across the league to the extent that it can, which is what triggers those compensatory picks.
It generates a snowball effect for teams that draft well. You get more picks, therefore bring in more players, and when drafting well, you bring in more players which you cannot keep all of. So you lose some players, but get compensatory picks for them, taking you back to the beginning of the cycle where you bring in more good players.
The bottom line is we simply need to draft better top to bottom, and the compensatory picks will take care of themselves.