Estimating Workforce Attrition Rate Parameters: A Controlled Comparison

Robert Bryce, Jillian Henderson

2023

Abstract

Here we consider workforce attrition rate parameter estimators (three continuous, three discrete), demonstrating that they originate in the Ordinary Differential Equation (ODE) describing a memoryless survival time population. This demonstration reveals how to craft estimators and reason about them. Setting up controlled numerical experiments we test this family of estimators to determine their relative performance, both in steady state and under dynamic change of population level. Additionally, we find the analytic expressions for the residual error of the estimators which provides insight into their bias properties. Our results suggest that, out of common simple estimators, the two-point average population and half-intake estimators are robust choices.

Paper Citation

in Harvard Style

Bryce R. and Henderson J. (2023). Estimating Workforce Attrition Rate Parameters: A Controlled Comparison. In Proceedings of the 12th International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES, ISBN 978-989-758-627-9, pages 82-93. DOI: 10.5220/0011748600003396

in Bibtex Style

@conference{icores23,
author={Robert Bryce and Jillian Henderson},
title={Estimating Workforce Attrition Rate Parameters: A Controlled Comparison},
booktitle={Proceedings of the 12th International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES,},
year={2023},
pages={82-93},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011748600003396},
isbn={978-989-758-627-9},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 12th International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES,
TI - Estimating Workforce Attrition Rate Parameters: A Controlled Comparison
SN - 978-989-758-627-9
AU - Bryce R.
AU - Henderson J.
PY - 2023
SP - 82
EP - 93
DO - 10.5220/0011748600003396