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:
“We have not the motive to prepare ourselves for a “life-work” of teaching, of social work—we know that we would lay it down with hallelujah in the height of our success, to make a home for the right man. And all the time in the background of our consciousness rings the warning that perhaps the right man will never come. A great love is given to very few. Perhaps this make-shift time filler of a job is our life work after all.”
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