5th North American International Conference on Industrial Engineering and Operations Management

Estimating Expected Time for Recruitment of Human Resource Companies Health Insurance based on Lomax Distribution

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Abstract

In a company, especially insurance companies, human resources play an important role to maintain the company's business continuity. The increasing number of insurance customers, of course, is very positive effect for insurance companies, but it must also be balanced by the company's human resources, so that recruitment of workers needs to be done, but the recruitment will be related to time and cost. In this paper, statistical model developed to obtain the expected time using Lomax  Distribution models for reaching threshold level. In the time of recruitment, the assumptions were assumed that independent and identically distributed (i.i.d) random variables for time between decision epochs.

Published in: 5th North American International Conference on Industrial Engineering and Operations Management, Detroit, USA

Publisher: IEOM Society International
Date of Conference: August 9-11, 2020

ISBN: 978-0-9855497-8-7
ISSN/E-ISSN: 2169-8767