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:
“But where shall wisdom be found? And where is the place of understanding? Mortals do not know the way to it, and it is not found in the land of the living.”
—Bible: Hebrew, Job 28:12.
“The want of education and moral training is the only real barrier that exists between the different classes of men. Nature, reason, and Christianity recognize no other. Pride may say Nay; but Pride was always a liar, and a great hater of the truth.”
—Susanna Moodie (1803–1885)