The aim of their essay is to review the role of training in economic performance. This article is an update and continuation of human capital theory. Using recent data from the OECD, it is found that on-the-job training (OJT), just like education, is associated with increased future earning streams as it increases the worker's productivity. It is important to note that the distinction between general and specific training.
Like human capital theory, we suggest that building human capital (training, education, and health) should be a key development strategy for economic productivity. Many empirical research demonstrates that OJT has an important positive outcome. However, opportunity for OJT development is not equally accessible to all. By facilitating OJT development among disadvantaged group, the government and employers can help individuals obtain skills that will enable them to compete in industrial labor markets.
The emphasis on investment and development is particularly relevant today important. Since, in the current economic climate, support for OJT is likely to decline. However, we should offer suggestions for facilitating OJT among employees. The most valuable of all capital is that invested in human capital, especially OJT.