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:
“Sometimes the hardest part of my job is the incessant reminder of the fact we’re all trying so assiduously to ignore: we are here temporarily ... life is only ours on loan.”
—Sue Grafton (b. 1940)
“At present I feel like a caged animal, bound up by the luxury, comfort and respectability of my position. I can’t get the training that I want without neglecting my duty.”
—Beatrice Potter Webb (1858–1943)