A MARKOVIAN STUDY OF MANPOWER PLANNING IN THE SOFT-DRINK INDUSTRY IN NIGERIA
DOI:
https://doi.org/10.4314/njt.334.855Keywords:
Wastage, Absorbing state, Residual stock, Markov chain, Transition matrixAbstract
A Markovian approach to the analysis of data pertaining to recruitment, active staff wastage and retirement collected over a period of five years from a soft drink manufacturing company based in Lagos, Nigeria, is presented. Our results suggest that although the company studied has a long term employment policy, staff who retire from the system are disproportionately small 15 to 26 % compared to those who leave through wastage (74-85)%. This paper proposes a review of the current manpower policy to moderate the perceived imbalance in policy structure. The author is convinced that the method advocated is effective as a decision support instrument for solving manpower planning problems in industrial organizations.
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