经济代写|劳动经济学代写Labor Economics代考|ECO433

经济代写|劳动经济学代写Labor Economics代考|The Training Decision by Employers

Consider an employer who has just hired a new employee. If the employer decides to bear the cost of training this worker, it will incur the explicit and implicit training costs discussed earlier-including, of course, the forgone output of the worker being trained. Thus, in the training period, the employer is likely to be bearing costs on behalf of this new worker that are greater than the worker’s marginal revenue product. Under what conditions would an employer be willing to undertake this kind of investment?

As with any investment, an employer that bears net costs during the training period would only do so if it believes that it can collect returns on that investment after training. It is the prospect of increased employee productivity that motivates an employer to offer training, but the only way the employer can make a return on its investment is to “keep” some of that added post-training revenue by not giving all of it to the worker in the form of a wage increase.

Put succinctly. for a firm to invest in training. two conditions must be met. First, the training that employees receive must increase their marginal revenue productivity more than it increases their wage. Second, the employees must stay with the employer long enough for the employer to receive the required returns (obviously, the longer the employees stay with the firm, other things equal, the more profitable the investment will be).

经济代写|劳动经济学代写Labor Economics代考|The Types of Training

At the extremes, there are two types of training that employers can provide. General training teaches workers skills that can be used to enhance their productivity with many employers; learning how to speak English, use a word-processing program, drive a truck, or create websites are examples of general training. At the other end of the spectrum is specific training, which teaches workers skills that increase their productivity only with the employer providing the training. Examples of specific training include teaching workers how to use a machine unique to their workplace or orienting them to particular procedures and people they will need to deal with in various circumstances they will encounter at work.

General Training Paying for general training can be a rather risky investment for an employer, for if the employer tries to keep post-training wage increases below increases in marginal revenue productivity, trained workers might leave. Because general training can raise productivity with other employers too, trained workers may have incentives to look for higher wage offers from employers that have no training costs to recoup!

Thus, theory suggests that if employee mobility costs are not very great, employers will be deterred from investing in general training. The likelihood of making back their required returns is low, because the gap between marginal revenue product and the posttraining wage might not be sufficiently great, or the expected tenure of the trained workers with the firms sufficiently long, to recoup their investment costs. When workermobility costs are low, firms either will not provide the training or will require the employees to pay for it by offering a very low (or, in the case of some interns, a zero) wage rate during the training period. Research finds, however, that firms often do invest in general training, a fact that suggests worker mobility among firms is costly-and that the labor market is therefore characterized by monopsonistic conditions. A related possibility is that, while the skills taught to employees are general in nature, the combinations of general skills required by particular employers vary markedly, and this variability reduces the transferability of skills among employers. $23$

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