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:
“A spirit glided past my face; the hair of my flesh bristled.”
—Bible: Hebrew, Job 4:15.
“Unfortunately, life may sometimes seem unfair to middle children, some of whom feel like an afterthought to a brilliant older sibling and unable to captivate the family’s attention like the darling baby. Yet the middle position offers great training for the real world of lowered expectations, negotiation, and compromise. Middle children who often must break the mold set by an older sibling may thereby learn to challenge family values and seek their own identity.”
—Marianne E. Neifert (20th century)