IV. Suppose that there is investment in on-the-job training (OJT) in period 0 an

Question

IV. Suppose that there is investment in on-the-job training (OJT) in period 0 and potential benefits occur over the next n-1 years. 1. Define firm-specific and general on-the-job training 2. Discuss how the incentives for investing in general and firm-specific OJT differ for the employer/firm and employee/worker; identify potential costs and benefits. How do the OJT investments in general and firm specific training get revealed in workers' age-earnings profiles, including their shape? 3. 4. Would private sector employers be more concerned about the safety of their workers on and off the job with firm-specific than general training? Why?

Explanation / Answer

A IFRM SPECIFIC TRAINING IS DESIGNED TO MAKE AN EMPLOYEE NOT TO BE FITTED IN AN ORGANISATION BUT INCULATE IN HIM ALL BUSTHICS ETHICS AND POLICY OF A PARTICULAR COMPANY. WHERE AS GENERAL OJT JUST TRAINS AN EMPLOYEE ABOUT THE WORK HE IS EXPECTED TO PERFORM DURING JOB  

FOR EX- A SPECIAL TRAINING BY ANENGUNNERGING CONCERN LIKE ABB WILL BE DIFFRENT FROM SIMPLE OJT OF AN ENGINEERING CONCERN.

A2-INCENTIVES FOR SPECIFIC OJT WILL NOT GAVE A CONCERN AN EMPLUYEE BUT TRAIN HIM HOW HE CAN EXCEL IN HIS CAREER AND HOW HE CAN CIONTRIBUTE IN ADDITION OR MAINTAINING BRAND LOYALTY OF A CONCERN BY BEING HIS BRAND AMBASSADOR.IT MAY BE COSTLY TO DO THIS BUT AS EMPLOYEE IS SURE ABOUT HIS FUTURE HE WILL PERFORM AT HIS BEST EFFICIENCY TO PERFORM SO THAT HE CAN ACHIEVE THE DREAMS HE DREAMT OF WHEN HE JOINED THE CONCERN.

WHILE GENERAL TRAINING DOES WARRANT EMPLOYEE ABOUT ANY FUTURE APTH AND SECURITY SO HE MAY RESIGN OR LEFT JOB WHENEVER HE SEEMS FIT WHICH COSTS DEARLY TO A FIRM WHO HAS INVESTED HIS RESOURCES TO TRAIN AN INEFFICIENT EMPLOYEE TO AN EFFICIENT ONE. WHEN THE TIME FOR GENERATING RETURNS ARISES THE EMPLOYEE MAY OR MAY NOT BE WITH THAT COMPANY.

A3- IF CAREER PATH IS CLEAR IN SPECFIC TRAINNING EMPLOYEE WITH VLEAR UNDERSTANDING OF HIS CAREER PATH WILL THINK TWICE TO LEFT THE JOB IF HE KNOWS ALL HIS REQUIREMENTS NAD DREAMS WILL BE TAKEN CARE OF DURING HIS SERVICE PERIOD.

FOR EX- PROMOTION AFTER 5YEARS TO MANAGER, SENIOR MANAGER AFTER 7 YEARS AND THEREAFTER SUBEQURENT PROMOTIONS. SO EMPLOYEE KNOWS WHAT TO ACHIEVE TO ACHIEVE HIS PERSONAL GOALS IE TO BE A MANAGER IN A BANK WORK FOR 5 YEARS EFFICIENTLY TO BE A MANAGER FROM EXECUTIVE AND HENCE FORTH.

IN MAY OPION BOTH WAYS AS IF EMPLOYEES ARE SATISIFIED WITH HR POLICY THEY WONT BE UNRESTED OR VICE VERSA,. SECONDLY A TRAINED EMPLOYEES ALWAYS COST DEARLY TO A CONCERN THEN INEFFICIENT ONES SO HR POLICY SHOULD BE DESIGNED IN THE WAYS THAT TRAINED EMPLOYEES DOENSOT LEFT JOB OR RETIRE TILL A QUALIFIED SUCCESSOR IS MADE IE FOR EX- A MD OF A COMPANY SHOULD NOT RETIRE TILL HE WOULD HAVE 2 OR 3 QUALIFIED OFFICIALS TO REPLACE HIM.

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