This study aims to identify the effects of workers’ diverse educational backgrounds on training costs and corporate financial and non-financial performances using data from the Human Capital Corporate Panel (HCCP).
Findings are as follows. First, the diversity of workers’ educational backgrounds has slightly increased since 2008, but then has slightly decreased since 2014. Second, an increase in the diversity of workers’ educational backgrounds did not significantly affect the cost of education and training at a corporate level. Third, the diversity of workers’ educational backgrounds had significantly positive effects on sales per capita and workers’ organizational commitment.
Based on these findings, this study suggests that companies can hire employees with more diverse educational backgrounds to increase their corporate performance. Moreover, education and training and other HRD strategies should be provided to help accumulate workers’ general human capital within companies.