Time - Even More Costly Than Money: Training Costs of Workers and Firms
We empirically investigate the joint training decisions of workers and firms. The aim of our study is to learn how various cost components affect workers’ (non-)participation in training. In particular, we separately consider monetary and non-monetary training costs, which is possible thanks to an especially rich dataset that includes both participants and non-participants. Our estimation results show that workers whose firms cover some of their training costs would generally be more likely to have assumed the full training costs themselves had they not received employer support. Moreover, the share of self-financed training, as compared to employer-supported training, is generally low. Thus, firms moderate virtually all training decisions and, as a result, considerably influence (non-)participation patterns. Interestingly, although training non-participation can be attributed to both monetary and non-monetary costs, the latter seem to comprise the more binding restriction. That is, time is more costly than money.
Training costs, employer-supported training, time vs. money
In order to set up a list of libraries that you have access to,
you must first login
or sign up.
Then set up a personal list of libraries from your profile page by
clicking on your user name at the top right of any screen.