Submitted by: Submitted by Winnie87103
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Category: Business and Industry
Date Submitted: 10/25/2011 02:10 PM
1.b
Table 1.1 Markov Analysis Information
Transition probability matrix | Current year |
| (1) | (2) | (3) | (4) | (5) | Exit |
Previous year | (1) Store associate | 0.43 | 0.06 | 0.00 | 0.00 | 0.00 | 0.51 |
| (2) Shift leader | 0.00 | 0.54 | 0.16 | 0.00 | 0.00 | 0.30 |
| (3) Department manager | 0.00 | 0.00 | 0.64 | 0.06 | 0.00 | 0.30 |
| (4) Assistant store manager | 0.00 | 0.00 | 0.06 | 0.52 | 0.08 | 0.34 |
| (5) Store manager | 0.00 | 0.00 | 0.00 | 0.00 | 0.66 | 0.34 |
| |
Forecast of availabilities | Next year (projected) |
| (1) | (2) | (3) | (4) | (5) | Exit |
| | Current Workforce | | | | | | |
Previous year | (1) Store associate | 8,500 | 3655 | 510 | 0 | 0 | 0 | 4335 |
| (2) Shift leader | 1,200 | 0 | 648 | 192 | | | 360 |
| (3) Department manager | 850 | 0 | | 544 | 51 | | 255 |
| (4) Assistant store manager | 150 | 0 | | | 78 | 12 | 51 |
| (5) Store manager | 50 | 0 | | | | 33 | 1 |
| | | | | | | |
Gap analysis | Next year (projected) |
| | | (1) | (2) | (3) | (4) | (5) |
| Year end total(column sum) | 3655 | 1158 | 736 | 129 | 45 |
| External hires needed (current workforce-total) | 4845 | 42 | 114 | 21 | 5 |
Forecasting Labor Requirements
1 By conducting and environmental scan and looking at the results found from within table 1.1, mainly the gap analysis, it shows that each position is going to need to externally hire for each position. 4845 employees are going to need to be hired as store associates, 42 as shift leaders, 114 department managers, 21 assistant managers, and 5 store managers. Because the labor market is soft during this period of time, I believe that finding employees for the store associate position and shift leader should not be a difficult task. These positions require very little training and skill. The labor market is full of people looking any type of work to pay their bill in hard economic times. The manager positions...