HR Planning - Markov Analysis

[torta0000]

Thanks Doctor!

[1984aman]

Dear Dr,

What tool will you recommed to aid hr plannig and forecasting when historical data is unavailable?

[DrNBereman]

@1984aman Conceptually the demand for labor is always going to be derived from the demand for the goods and/or services that they produce. So the problem then becomes projecting that demand. There are judgmental methods of doing that forecast as well as using regression analysis (which uses historical data).

[iakhanify]

Dear Dr,

Thank you! i really found this very helpful, however question raising that how we would be calculating the probabilty of the movment as you mention for example 60% of job A at time @ inrespect to Time 1?

Best regards,

[DrNBereman]

@iakhanify

The probability is calculated by looking at historical data showing the movement of people within the organization. Some ERP systems can provide this information. Does this help?

[TheHumzie]

thank you, that finally made sense. So, can i be correct in saying that Job D is an attractive one- since in time 2 there are more ppl there than in time 1?

[DrNBereman]

Not necessarily attractive..all the percentages do is capture the reality of the movement of people in the organization. So it just might be that this job is one that people either stay in or move TO with a higher probability than moving out.

[DrNBereman]

Thanks! I appreciate the comment.

[slixhtid]

Great video, really useful info for myself; currently carrying out a HRM assignment. Thanks - reference given