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Exercise \#2 - Markov Analysis or "Transition Matrix" Pam Johnson is one of three new assistant regional managers of Huntsville Credit Union (HCU). Her position was recently created to provide administrative support and advice for the regional manager in charge of the southern region, James Smith. In their first team meeting, Pam and the two other assistant regional managers met with James to discuss areas throughout their branches that might be addressed to lower costs and raise profitability. Each of the assistant managers was given different aspects to emphasize, and Pam was asked to focus on ways to reduce costs and/or increase labor productivity among employees within the eight branches. In part, this was a response to feedback from the branches regarding an increase in recruitment and training expenses as well as a decrease in employee morale. Pam's first course of action was to evaluate some direct and indirect labor costs related to turnover and retention as well as areas of bloated labor (labor surpluses) through the southern region. Based on her analysis, Pam arrived at some basic points of information for the branches. First, HCU is organized into Ch. 5 Assignment - Page 1 several broad regions throughout Alabama, Tennessee, and Georgia. Each region comprises 8 to 12 bank branches. Each branch consists of 4 primary positions: branch managers, assistant managers, loan officers, and tellers/customer service agents. On average, each bank has 1 branch manager, 3 assistant managers, 4 loan officers, and 15 tellers/customer service agents. Beyond the average staffing levels, Pam was also able to get some information regarding the movement of employees throughout and in the organization. As shown in the following transition matrix, HCU averages 26% tumover, with turnover among the tellers/customer service agents slightly higher, at 33%, and turnover at the assistant manager level the lowest, at 17%. Transition Matrix for Southern Region Answer the following questions: 1. Based on the "Transition Matrix" for HCU, which positions will experience a labor surplus in the upcoming year? Show your calculations. 2. Which positions will experience a labor shortage in the upcoming year? Show your calculations