Employment and Full-time Sales Associates
Chern’s has never examined its internal labor market. The company asks you to perform a transition analysis for full-time sales associates. It asks you to conduct relevant analyses to describe the internal labor market for its flagship store.
Summarize the flagship store’s internal labor market and highlight any trends or forecasted gaps based on the transition probability matrix in Table A-5. The probabilities are based on annual rates that are averaged over a span of three years. In other words, they are the average rate per year. If Chern’s wants to keep its flagship store staffed with 140 full-time sales associates, how many full-time sales associates should it expect to have to hire from outside the company annually?
Traditionally, 30 percent of the store’s job applicants for sales associate positions become job candidates, and 15 percent of them receive job offers, 75 percent of which are accepted. Chern’s asks you how many applicants it will need to generate each year to acquire the number of new hires you forecasted. 1. Conduct a transition analysis. 2. Summarize the internal labor market and highlight any trends or forecasted gaps. 3. Based on the transition probability matrix, calculate how many new full-time sales associates should be hired externally. 4. Calculate the number of applicants needed to acquire the number of new hires you forecasted.
Table A-5
The Transition Probability Matrix for Chern’s Flagship Store | Transition ProbabilitiesBased on the Past 3 Years | | | Job Category | FTSA(%) | PTSA(%) | DEP(%) | BUY(%) | MER(%) | Exit(%) | Current # of Employees | Full-Time Sales Associates (FTSA) | 50 | 15 | 5 | 5 | 5 | 20 | 140 | Part-Time Sales Associates (PTSA) | 30 | 50 | 0 | 5 | 0 | 15 | 30 | Department Manager (DEP) | 5 | 0 | 75 | 0 | 0 | 20 | 16 | Buyers (BUY) | 0 | 0 | 0 | 65 | 5 | 30 | 5 | Merchandising Managers (MER) | 0 | 0 | 0 | 0 | 80 | 20 | 8
Summarize the flagship store’s internal labor market and highlight any trends or forecasted gaps based on the transition probability matrix in Table A-5. The probabilities are based on annual rates that are averaged over a span of three years. In other words, they are the average rate per year. If Chern’s wants to keep its flagship store staffed with 140 full-time sales associates, how many full-time sales associates should it expect to have to hire from outside the company annually?
Traditionally, 30 percent of the store’s job applicants for sales associate positions become job candidates, and 15 percent of them receive job offers, 75 percent of which are accepted. Chern’s asks you how many applicants it will need to generate each year to acquire the number of new hires you forecasted. 1. Conduct a transition analysis. 2. Summarize the internal labor market and highlight any trends or forecasted gaps. 3. Based on the transition probability matrix, calculate how many new full-time sales associates should be hired externally. 4. Calculate the number of applicants needed to acquire the number of new hires you forecasted.
Table A-5
The Transition Probability Matrix for Chern’s Flagship Store | Transition ProbabilitiesBased on the Past 3 Years | | | Job Category | FTSA(%) | PTSA(%) | DEP(%) | BUY(%) | MER(%) | Exit(%) | Current # of Employees | Full-Time Sales Associates (FTSA) | 50 | 15 | 5 | 5 | 5 | 20 | 140 | Part-Time Sales Associates (PTSA) | 30 | 50 | 0 | 5 | 0 | 15 | 30 | Department Manager (DEP) | 5 | 0 | 75 | 0 | 0 | 20 | 16 | Buyers (BUY) | 0 | 0 | 0 | 65 | 5 | 30 | 5 | Merchandising Managers (MER) | 0 | 0 | 0 | 0 | 80 | 20 | 8