FORECASTING THE NUMBER OF HUMAN RESOURCES IN THE ORGANIZATION USING MARKOV CHAINS

Yordan Petkov ()
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Yordan Petkov: University of Economics – Varna, Bulgariaп

INTERNATIONAL SCIENTIFIC AND PRACTICAL CONFERENCE "HUMAN RESOURCE MANAGEMENT", 2024, issue 1, 80-88

Abstract: In modern reality, the human factor and its adequate formation and management is extremely important for the effective functioning of organizations. Along with a number of other factors, rational planning, forecasting and maintaining optimal staff numbers play an essential role. In this regard, the purpose of the report is to present the possibilities of the stochastic model, known in the literature as Markov chains, for predicting the number of employees in different job positions in the organization. The theoretical formulations are supported by numerical example.

Keywords: Human Resources; Forecasting; Markov Chains (search for similar items in EconPapers)
JEL-codes: C53 J21 (search for similar items in EconPapers)
Date: 2024
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