On The Job Training
Many firms are willing to train internal employees for other positions. Since they find no use in workers with experience from other places, they prefer to promote young workers and train them on-the-job. Firms want to maintain the investment afterwards; therefore they offer the employees job security and structured promotions. Due to the importance of on the job training, the promotion is often given by seniority. Also, this way of promotion encourages on the job training, since the eldest worker is not afraid that the young one replaces him. Employers benefit from this more stable relationship because they reduce the cost of training.
Read more about this topic: Internal Labor Market
Famous quotes containing the words job and/or training:
“...miserable comforters are you all.”
—Bible: Hebrew, Job 16:2.
Job to his friends.
“Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do, when it ought to be done, whether you like it or not; it is the first lesson that ought to be learned; and however early a man’s training begins, its probably the last lesson that he learns thoroughly.”
—Thomas Henry Huxley (1825–95)