What is the difference between a minimum acceptable hourly rate and a minimum acceptable bid?
We use “minimum acceptable bid” in auction situation and “minimum acceptable hourly rate” in Insta-Shift situations…The confusing part comes in to play as, under certain conditions, Insta-Shift situations can cause a Short Auction to start. Let’s use some examples to explain the differences. Example #1. You are not working any Insta-Shifts so you set a minimum acceptable bid for the bidders to use as a baseline for the lowest hourly rate you will accept. Most likely, there will be bidding activity from more than one bidder and your minimum acceptable bid will increase during your auction. Example #2. You are working Insta-Shifts and there is a surplus of other nurses working Insta-Shifts. In this case, an auction will not start as there are enough nurses to fill all the Insta-Shift demand and your minimum acceptable hourly rate will be your rate. Example #3. You are working Insta-Shifts, there is a deficit of nurses and more than one hospital needs nurses immediately. This causes our
