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:
“Wherefore is light given to him that is in misery, and life unto
the bitter in soul;
Which long for death,”
—Bible: Hebrew Job (l. III, 20–21)
“The triumphs of peace have been in some proximity to war. Whilst the hand was still familiar with the sword-hilt, whilst the habits of the camp were still visible in the port and complexion of the gentleman, his intellectual power culminated; the compression and tension of these stern conditions is a training for the finest and softest arts, and can rarely be compensated in tranquil times, except by some analogous vigor drawn from occupations as hardy as war.”
—Ralph Waldo Emerson (1803–1882)