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

Abstract

An attempt to study the characteristic of threshold level in recruitment process using newlinestochastic model. Departure of people is common in many organizations. Once a large newlinenumber of departures from the organization reaches to a certain threshold level, it could newlinebe considered as a threshold break. The time to achieve threshold is an important feature newlineof the organization. The stochastic model is proposed to get the expectation and variance newlineof the time to achieve the threshold level. Numerical example is provided to illustrate the newlinemodel. It is suggested that two category organization subjected to random depart of newlinepersonnel due to policy decisions taken by the organization is considered. It is found newlinemathematical model and analytical results for the mean and variance of the time for newlineemployment at any organization. Developed the mathematical model for several category newlineorganizations through stochastic process and found the analytical results for the mean of newlinethe time for employment at any organization. The problem of time for recruitment is newlinestudied using discrete time stochastic process to achieve the threshold level of newlinerecruitment in manpower system. The stochastic model is proposed to get the expectation newlineand variance of the time to achieve the threshold level for recruitment process. Developed newlinethe binomial network in which a stochastic process is a real variable that changes through newlinetime in a random way. The elementary building block of stochastic calculus is the so newlinecalled Wiener process or Standard Brownian Motion . This work starts from newlineBrownian motion that describes the idea of continuous random walk and proceeds to Ito newlineprocesses. Finally, the Binomial Network is presented to visualizing the stochastic newlineprocess in discrete time. newline