Hiring and firing optimally in a large corporation

Article Abstract:

A simple stochastic model was developed for the optimal staff size of a giant corporation as a function of its wealth. A quantitative theory was formulated, including precise recommendations on how to increase, decrease or maintain the size of the workforce to achieve maximum total profit that is discounted with a fixed interest rate. This optimal policy appears to agree in quantitative terms with observed practice. The model, which is very simple and relies on only five estimable parameters, will likely be useful in helping develop or in studying policies on corporate sizing.

Corporations, Models, Employee selection, Stochastic systems

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Job displacement

Article Abstract:

Job displacement refers to involuntary loss of employment with minimal opportunity of being hired by the former employer. Majority of displaced workers are women and minorities. Most of them have higher educational attainments than temporarily laid off employees and come from retail and financial industries. They typically have a hard time getting new employment. When they do, their salaries are usually lower than in their previous jobs. The government, as a demonstration of its concern, institutes programs to cushion the impact of reduced income among these workers.

Demographic aspects, Layoffs, Economic security

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Employee job termination strategies

Article Abstract:

Employers can avoid lawsuits resulting from the termination of employees by considering risk-reducing strategies and getting familiar with state and local employment laws. Employers need to identify problem employees, warn them about the consequences of their behavior and keep records of warnings, absences and performance reviews. Employers must also ensure that the termination complies with company policies.

Management, Employment discrimination

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