Time - Even More Costly Than Money: Training Costs of Workers and Firms
Simone Tuor Sartore and
No 46, Economics of Education Working Paper Series from University of Zurich, Department of Business Administration (IBW)
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.
Keywords: Training costs; employer-supported training; time vs. money (search for similar items in EconPapers)
JEL-codes: J24 M53 (search for similar items in EconPapers)
Pages: 34 pages
New Economics Papers: this item is included in nep-hrm and nep-lab
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Persistent link: https://EconPapers.repec.org/RePEc:iso:educat:0046
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