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A risk analytics model for strategic workforce planning: readiness of enlisted military personnel.
- Source :
-
Annals of Operations Research . Jul2024, Vol. 338 Issue 1, p513-533. 21p. - Publication Year :
- 2024
-
Abstract
- We develop a dynamic stochastic model of military workforce planning that incorporates uncertainties about personnel gains and losses across ranks. We then apply it to determine the probability of not meeting required targets as well as the resulting shortages and overages in the short, medium, and long terms along with the evaluation of policies to mitigate these risks. Our model allows decision makers to adjust recruiting and training practices to minimize the risk of not meeting target personnel levels as well as to value retention and reenlistment policies by calculating the expected marginal value of retaining additional service members. Moreover, it allows us to create a penalty function to optimize recruiting and training levels. The outcome is a tool to evaluate and ensure comprehensive force readiness. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 02545330
- Volume :
- 338
- Issue :
- 1
- Database :
- Academic Search Index
- Journal :
- Annals of Operations Research
- Publication Type :
- Academic Journal
- Accession number :
- 178444628
- Full Text :
- https://doi.org/10.1007/s10479-023-05567-0