A Stochastic Model based on Order Statistics for Estimation of Expected Time to Recruitment in a two Grade Manpower System under Correlated Wastage

In this paper, an organization with two grades subjected to exit of personnel due to the policy decisions taken by the organization is considered. As the exit of personnel is unpredictable a new univariate recruitment policy involving two thresholds one is optional and the other one mandatory is suggested to enable the organization to plan its decision on recruitment .Three mathematical models are constructed using a univariate policy based on shock model approach assuming that (i) the amount of wastage at each decision epoch are identically distributed constantly correlated and exchangeable exponential random variables(ii)the inter-decision times form an order statistics and (iii) the optional and mandatory thresholds follow various distribution. Theanalytical results are substantiated with numerical illustrations.