Manpower Planning Under Stochastic Turnover Behavior
In the past decade, Markovian Analysis has been utilized for manpower planning purposes in a number of organizations. The main assumption in these models was the stability of the transition probabilities for turnover behavior. In real life this assumption is rarely met. In this paper a remedy for this problem is proposed. This remedy is the utilization of multiple transition matrices depending on the socio-economic changes in the work environment.
KeywordsPlanning Horizon Transition Matrice Small Bank Markovian Analysis Manpower Planning
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