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Respond to the following discussion: COLLAPSE The average annual inflation rate was 1.9% between March 2006 and January 2020, compared to an annual growth rate
Respond to the following discussion: COLLAPSE The average annual inflation rate was 1.9% between March 2006 and January 2020, compared to an annual growth rate of 2.7% for the average wage of employees in physicians offices, 2.8% for employees in hospitals, 2.2% in nursing homes and 2.5% for the rest of the economy. The nursing home wages in January 2020 and June 2023 increased by 7.0% per year. This showed that employment growth and real wage growth in healthcare has been more than the rest of the economy. If this is the case why are there still labor shortages and increased quit rates (Poindexter, n.d.). There is a lot of research that shows a positive relationship between HRM practices and a company's performance. HRM functions are recruitment, and selection, HR appraisals, HR development, and HR rewarding. It is now a strategic role instead of a administrative role (Piwowar-Sulej, 2021)
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