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Hit the nail on the head. Inflation doesn't factor into their calculus at all. They'll pay exactly what's needed to attract and retain employees, nothing more, nothing less.
I'm not sure they don't care about inflation. If operations become too expensive, they will start to cut corners, and this includes salaries. Not the CEO salary or any of the C-suite, obviously. But the rest of us.
The competition has the same problem. It's a big equation, cut a little here, cut a little there. It might be that some companies can pay a little more, because they were able to cut somewhere else.
Chief
Companies probably do care about inflation when it impact their bottom line, but you are painfully accurate — they don’t care about your bottom line and everyone is replaceable.