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Essay / Markovian Analysis and Planning - 1519
It is often said that the past is the best indicator of the future. When planning and forecasting future workforce needs, based on variances in employment levels due to advancements, demotions or departures of employees within a company, the Examining a Markov analysis chart can reflect areas of opportunity for the organization based on past employment movements (Dartmouth, n.d.). The Doortodoor Sports Equipment Company is unique in its industry, being the only company selling door to door. However, this tactic and other HR practices could be examined to determine if the changes used increase retention or improve internal promotions. We will now look at Markov analysis for the sports equipment company Doortodoor. Internal Labor MarketWhen examining the Markov analysis for the sports equipment company Doortodoor, several conclusions can be drawn from the data. The numbers reflect the organization's retention rates or job stability, promotion, demotion, transfer and turnover rates. Job Stability Doortodoor Sports Equipment Company retains a higher percentage of employees in their part-time sales (SP) and assistant sales manager (ASM) positions. . The company retains 60% of its SP and 80% of its ASM. While the organization retains 70% of its Regional Sales Managers (RSM), it loses 30% of turnover. The retention rate for RSM is high, but the total number of employees in this position within the company is lower than other job categories, resulting in the highest turnover rates in the company . The job category with the highest total exit rate is Full-Time Sales (FS). The employees retained in this category amount to 50%. However, in this category, 10% of employees transfer...... middle of paper ...... Markov analysis along with company practices can help improve the performance of staffing practices in staff in the future. Works Cited Craik, D. (2004). Promote the art of downshifting. Retrieved from http://www.theguardian.com/money/2004/apr/26/careers.theguardianDartmouth. (nd). Chapter 11: Markov Chains. Retrieved from http://www.dartmouth.edu/~chance/teaching_aids/books_articles/probability_book/Chapter11.pdf Heathfield, S. (2014). A job transfer is a career opportunity. Retrieved from http://humanresources.about.com/od/glossaryt/g/transfer.htmHeneman, HG, Judge, TA, & Kammeyer-Mueller, JD (2012). Recruitment Organizations (7th ed.). New York, NY: McGraw-Hill. Robertson, T. (2014). Reasons for high sales staff turnover. Retrieved from http://smallbusiness.chron.com/reasons-high-turnover-rate-sales-personnel-15715.html