Topic > Markov Analysis and Planning - 1519

It is often said that the past is the best predictor of the future. When planning and forecasting future labor needs, based on gaps in employment levels due to advancement, demotion, or exiting employees within a company, a review of a Markov analysis chart can reflect areas of opportunity for l organization based on past occupational movements (Dartmouth , n.d.). Doortodoor Sports Equipment Company is unique in its industry, being the only company to sell door-to-door. However, this tactic, as well as other HR practices, could be examined to determine whether the changes implemented increase retention or improve internal promotions. A revision of the Markov analysis for the Doortoodoor Sports Equipment Company will now be considered. Internal Labor Market When examining the Markov analysis for Doortoodoor Sports Equipment Company, several conclusions can be drawn from the data. The numbers reflect retention rates or job stability, promotion, demotion, transfer and turnover rates for the organization. Job Stability Doortodoor Sports Equipment Company maintains a higher percentage of employees in part-time sales (SP) and assistant sales manager (ASM) positions. The company retains 60% of its SP and 80% of its ASM. Although the organization retains 70% of its Regional Sales Managers (RSMs), they lose 30% of revenue. The retention rate of RSMs 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 the Full-Time (SF) Sales category. The employees retained in this category amount to 50%. Within this category, however, 10% of trans employees...... middle of paper ...... Markov analysis along with company practices can help drive better performance in employee hiring practices staff in the future. Works Cited Craik, D. (2004). Promote the art of relegation. Retrieved from http://www.theguardian.com/money/2004/apr/26/careers.theguardianDartmouth. (n.d.). Chapter 11: Markov Chains. Retrieved from http://www.dartmouth.edu/~chance/teaching_aids/books_articles/probability_book/Chapter11.pdfHeathfield, S. (2014). Moving to work is a career opportunity. Retrieved from http://humanresources.about.com/od/glossaryt/g/transfer.htmHeneman, H. G., Judge, T. A., & Kammeyer-Mueller, J. D. (2012). Staffing Organizations (7th ed.). New York, NY: McGraw-Hill. Robertson, T. (2014). Reasons for the high turnover rate of sales staff. Retrieved from http://smallbusiness.chron.com/reasons-high-turnover-rate-sales-personnel-15715.html