Estimation of manpower wastage using cox’s approach

Abstract

The usage of Cox’s Regression Model is to Estimate the wastage of the organization. In any organization wastage occurs mainly in two forms voluntary or involuntary wastage. Voluntary wastage may be due to an individual’s decision to quit the job or due to voluntary retirement whereas involuntary wastage may happen due to retrenchment, retirement or death of the person etc., In manpower planning, one of the most important variables is completed length of service (CLS) on leaving a job, since it enables us to predict staff turnover. In this paper to analyze and predict the pattern of manpower wastage using Cox’s approach to Exponential-Gamma and Exponential- Half Log Logistic distribution. A real software industrial data has been used to validate the above models.