Application of Cox's Regression Model in the Analysis and Forecasting of Manpower Wastage and Attrition in Labour Intensive Indian Industry

We have seen the usage of Cox's Regression Model in Human Resource Management in various types of practical problems. In this paper we try to apply Cox's Regression Model in the analysis and forecasting of manpower wastage and attrition (retrenchment) in labour intensive Indian industry. We have seen retrenchment (wastage and attrition) in academic set-ups. Academic retrenchment (wastage and attrition) is a type of retrenchment where the skilled personnel in academic field become redundant due to the changes in course design and their next employment is not a problem in some other academic institutions. But the problem lies in case of retrenchment of unskilled workers, that too in the third world where the manpower is abundant. The present application of Cox's Regression Model in the analysis and forecasting of manpower of wastage and attrition for the Indian industry, where the unskilled manpower is abundant and the factors of retrenchment are specified by the past (employees taken Voluntary Retirement) and present employees.