Abstract
Recent transitions from the industrial to knowledge economy suggest an immediate and wholesale retraining scenario so that many organisations can remain at the cutting edge of technology. The dynamics of the job market is creating a challenge for many organisations in recruiting and retaining their core staff. In fact, many companies are in fear of losing critical business knowledge when their employees leave. In this paper, systems dynamics is employed to illustrate the relationship between recruitment, training, skills, and knowledge in a causal loop form. Strategies for human resource management are developed by conducting time-based dynamic analysis. We anticipate that systems dynamics modelling would help organisations to devise efficient human resource management strategies.
| Original language | English |
|---|---|
| Pages (from-to) | 153-164 |
| Number of pages | 11 |
| Journal | Journal of the Operations Research Society |
| Volume | 54 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - Feb 2003 |