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Probability Techniques in Human Resources

Probability Techniques in Human Resources.

#134266850

Topic:

Probability

Type of paper:

Essay (any type)

Discipline:

Mathematics and Statistics : Statistics

Format or citation style:

APA

Pages: 1

Deadline: 4hrs

Discuss the benefits of probability techniques in your career (Human Resources)

(200+ total words) and include at least two APA-formatted citation/reference

Probability Techniques in Human Resources

Student’s Name

Institutional Affiliations

                               Probability Techniques in Human Resources

A career in the human resource management serves different tasks with the four general being: the attraction, development, motivation and retaining of human resources (Rafiei & Davari, 2015). The understanding of the current and future human behavior of employees concerning their departure, transitions, and new recruitments is important for the management. Through predetermined probability techniques and complementing statistical analysis, historical data can be used to provide predictive analysis pertaining to employee transfers, resulting demand and supply depending on the organizational requirements (Du & Li, 2015). The analysis is beneficial to the organization given the precautionary measures developed to address any employee transitions. Also, the predictive analysis facilitates the selection of the most appropriate candidates in the organization after reviews into future scenarios of resource availability and desired talent for the determined gaps (Puri & Sengupta, 2018). The probability techniques facilitate the determination of future trends critical for decision making in employee management.

Probability techniques are important during research by the HR department. The motivation and development tasks might involve surveys and interviews from different stakeholders in the organization. The number of employees might be many which make it expensive and time-consuming to attend to all employees in the research. Therefore, the application of the probability techniques enables timely and cost-effective data collection on employees. Through the information obtained, the concerns of the employees, those underperforming, sectors with inadequate staffing and overall performance trends are obtained. The inference drawn is from a reliable group drawn from the entire employee framework. Entirely, the research processed is made easy, faster and cheaper without compromising the validity and reliability of the results. The incorporation of the techniques equips the HR managers with statistical ability to back their decisions in attending to human capital in the organizations they serve.

References

Du, W. Y., & Li, S. (2015, July). Application of Markov model in human resource supply forecasting in enterprises. In 2015 International Conference on Computational Science and Engineering. Atlantis Press.

Puri, R., & Sengupta, P. (2018). Application of Statistics in Human Resource Management. In D. Bhattacharyya, Statistical Tools and Analysis in Human Resources Management (pp. 15-37). IGI Global.

Rafiei, N., & Davari, F. (2015). The Role of Human Resources Management on Enhancing the Teaching Skills of Faculty Members. Materia socio-medica, 27(1), 35.

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