Literature Survey for - What are the benefits and costs of worker Essay

Literature Survey for - What are the benefits and costs of worker training, and who should pay for training - Essay Example Moreover, Acemoglu and Pischke argue that worker training is important especially with the ever changing technology in organizations (1999, p.2). In a bid to increase productivity and retain relevance in competitive industries, organizations have to constantly change and adopt to new technology. As a result, workers need to attend trainings on how to effectively use new technology. Studies show that highly skilled workers easily and effectively adapt to new tasks and technology compared to low skilled workers. Furthermore, highly skilled workers were found to be more innovative hence yielding better performance (Blundell, Dearden, Meghir, and Sianesi, 1999, p. 14). This implies that worker trainings ensure that the entire workforce is always in conversance with organization equipment and technology thereby maintaining high productivity. In addition, the basic education attained in institutions of higher learning and other basic education providers is arguably not enough to produce optimum results. As a result, there is need for continued worker training to impact the essential knowledge required for maximum productivity. According to Preffer and Fong a consultancy firm can produce a two-year learning experience in colleges in three weeks (qtd. in Xie and Steiner 2013, p.3). This implies that worker training can be considered more effective than the basic education learnt in schools since people already have first-hand experiences in the course of work. However, this is not to say that basic education is irrelevant but it is to lay emphasis on the need to promote and incorporate worker training in organizations. This is further emphasized by Acemoglu and Pischke who argue that ‘most lines of business require a set of skills that cannot be impacted by the basic education (1999, p. 2). This implies that for maxi mum efficiency, worker education should be incorporated