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Employee Supply and Investment in Employee Acquisition and Training Cost Analysis

Description

Example model of employee supply for a company with complex and lengthy employee training requirements. This model assumes that the company requires highly skilled and well trained employees which progress from the initial hire stage through a multi-year apprenticeship to become journeyman level technicians. At the journeyman-level, there are 20 experience-based categories which are based on the duration of service at the journeyman level (e.g. 5-yr cohort, 6-yr cohort, and so forth).

The purpose of the model is to simulate the evolution of the workforce through this detailed training regime given various investments in the employee acquistion and training process. The specific investments or programs represented are:

  • No change from current practice
  • Improving the interview process to better target the potential hires most likely to become experience journeymen
  • Implement and improve pre-employment screening
  • Implement and improve pre-hire assessments

The goal of each of these investments or strategies is to increase the employee supply at the highest levels of training.

The model simulates or forecasts the level of staff available at each experience level as well as the cost for each option. The levels of staff for the options can then be compared as well as the relative costs of the strategies. Levels of staff supply are also compared to projected or forecast staff level demand.

Additional Information

Keywords

Employee supply, Cost Analysis, Discrete change push, Integrator array

Categories

GoldSim Applications, Supply Chain & Business Process Modeling, Economic & Policy Analysis, Cost Modeling & Project Planning

Experience Level
Intermediate
Contact

GoldSim Technology Group

 

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