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:
“Because it shut not up the doors of my mother’s womb, nor hid
sorrow from mine eyes.
Why died I not from the womb?”
—Bible: Hebrew Job (l. III, 10–11)
“... the time will come when no servant will be hired without a diploma from some training school, and a girl will as much expect to fit herself for house-maid or cook, as for dressmaker or any trade.”
—Lydia Hoyt Farmer (1842–1903)