The use of a Markov model in assessment of alternate faculty personnel policies

This study demonstrates the usefulness of the Markov modeling technique for analysis of alternative faculty personnel policies at a university. The necessary faculty flow model and transition matrix are developed with limited resources and only two years of time-series data. By making adjustments to the input vector (those entering the university) and the transition matrix, faculty personnel policy decisions are simulated and their outcomes, in terms of important faculty characteristics, are determined. Six hiring and retirement policies at a major university are assessed utilizing this procedure. The results that are presented provide an illustration of the nature of the information which can be obtained from this procedure.