Discrete Time Stochastic Processes to Achieve the Threshold Level of Recruitment Process

Abstract

 In this paper, the problem of time to recruitment is studied using discrete time stochastic process to achieve the threshold level of recruitment in manpower system. Manpower planning is the process of estimating the optimum number of people required for completing a project, task or a goal within time. Manpower planning includes parameters like number of personnel, different types of skills, time period etc. Loss of manpower is unpredictable; a suitable requirement policy has to be designed to overcome this loss. In this paper the stochastic model is proposed to get the expectation and variance of the time to achieve the threshold level for recruitment process.