Quantitative workforce management has become more popular since the pandemic as companies are eager to find methods to accurately locate the sources of their reducing human efficiency and ROIs of human capital. This paper aims to shed light on the applicable methods of quantitative talent planning to adjust the workforce costs and staff ratios between different departments of a company. The present study analyzed the average workforce costs and cost benefit ratios data from electronics production & design companies. The regression method was also applied to illustrate these two factors' trends and relationships. The paper's main findings are the Equal Workforce Efficiency Curve and the four-zone coordinate axis, which can help companies understand their current economic position compared to other competitors in their field. We also propose a strategic management framework to assist companies in using our methodologies more conveniently and confidently.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.