A less experienced workforce may not work as efficiently as an experienced workforce. Less efficiency relates to costs. When the workforce is less efficient, costs related to human capital are higher. This creates greater challenge for the organization, in competing within an industry or particular business environment. The organization may be faced with issues of less than optimal customer service, due to lack of experience within the work force. The organization may incur costs related to training, to bring inexperienced workers up to speed, in customer service issues. Development and implementation of training incur various costs. Workers will spend some time away from their respective roles, which reduces productivity and increases costs. Resources needed to implement training may include capital expenditures or infrastructure or technology, or from hiring a consulting firm to conduct training.
A less experienced workforce affects the economy, by influencing what consumers may ...
Ramifications of a less experienced workforce are explored.