APPLICATION OF STOCHASTIC MODEL WITH RECRUITMENT PROCESS IN A MANPOWER ORGANIZATION
Stochastic models are essential for organizing manpower resources. In this study, a stochastic model with a non-stationary recruiting process is developed and examined. Here, a shock process defines the time-dependent recruitment. The Weighted Exponential Distribution is one of the special situations for particular parameter values in the shock process. Additionally, it is presumable that the process of getting promoted or terminated follows a weighted exponential distribution. We calculate the anticipated time to employee recruitment in the organization using the renewal process and the survival function. The model analysis indicates that the shock process in recruiting greatly affects the traits of manpower organization.
Keywords: Distribution, Manpower, Organization, Parameter, Recruitment