- The Oxford Handbook of Skills and Training
- List of Contributors
- Introduction: Skills and Training: Multiple Targets, Shifting Terrain
- Disciplinary Perspectives on Skill
- Skill Builders and the Evolution of National Vocational Training Systems
- The Changing Meaning of Skill: Still Contested, Still Important
- A New Social Construction of Skill
- Measuring Job Content: Skills, Technology, and Management Practices
- Accreditation and Assessment in Vocational Education and Training
- Education and Qualifications as Skills
- Pre-Employment Skill Formation in Australia and Germany
- Skill Development in Middle-level Occupations: The Role of Apprenticeship Training
- What Is Expected of Higher Education Graduates in the Twenty-first Century?
- Employer-Led In-Work Training and Skill Formation: The Challenges of Multi-Varied and Contingent Phenomena
- Unions, the Skills Agenda, and Workforce Development
- A Working Lifetime of Skill and Training Needs
- Skill Under-utilization
- Business Strategies and Skills
- Measuring Skills Stock, Job Skills, and Skills Mismatch
- The Individual Benefits of Investing in Skills
- The Economic and Social Benefits of Skills
- Theorizing Skill Formation in the Global Economy
- Different National Skill Systems
- Skill Ecosystems
- Employment Systems, Skills, and Knowledge
- Skill Demands and Developments in the Advanced Economies
- Approaches to Skills in the Asian Developmental States
- Emerging Economic Powers: The Transformation of the Skills Systems in China and India
- Projecting the Impact of Information Technology on Work and Skills in the 2030s
- International Skill Flows and Migration
- Professional Skills: Impact of Comparative Political Economy
- Skills and Training for the Older Population: Training the New Work Generation
- Rethinking Skills Development: Moving Beyond Competency-Based Training
- Who Pays for Skills?: Differing Perspectives on Who Should Pay and Why
- Current Challenges: Policy Lessons and Implications
- Author Index
Abstract and Keywords
This chapter discusses the returns to employers and to society at large. It argues that, in certain circumstances, the private returns to individuals will be greater than the economic returns to society. This is because individuals may simply be buying credentials which advantage them in a labour market characterized by positional competition, without necessarily been more productively employed than they would have been had they not received the training in question. The chapter goes on to argue that the extant literature on returns to employers is indecisive and, linked to this, that official rationales for government training subsidies to employers are often confused. Finally it considers the non-economic returns to training.
Irena Grugulis is Professor of Work and Skills at Leeds University Business School in the United Kingdom. Her specialist area of research is skills, and she has been funded by the ESRC, the EPSRC and the EU. She is Associate Fellow of SKOPE, held a UK AIM/ESRC Research Fellowship and has worked as both editor and editor-in-chief of Work, Employment and Society. She sat on the academic advisory board of the UK Commission on Employment and Skills (UKCES) and worked with many government skills enquiries including the Leitch Review.
Craig Holmes is a labour economist at Pembroke College, Oxford University; Research Fellow on the Employment, Equity, and Growth programme with INET Oxford; and Research Associate of the Centre on Skills, Knowledge and Organizational Performance (SKOPE) also at Oxford University. His research interests include earnings inequality, social mobility, behavioural economics, and the economics of education, skills, and skills policy.
Ken Mayhew is Emeritus Professor of Education and Economic Performance, at Oxford University, Emeritus Fellow in Economics at Pembroke College Oxford, Extraordinary Professor at Maastricht University, and a member of the Armed Forces Pay Review Body. He was founding director of SKOPE, an ESRC research centre on skills, knowledge, and organizational performance. He has published widely in labour economics and policy analysis, and advised many private and public sector organizations at home and abroad.
Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.
If you have purchased a print title that contains an access token, please see the token for information about how to register your code.