HUMAN CAPITAL INVESTMENT THROUGH CONTINUING VOCATIONAL TRAINING – ROMANIA 1999 – 2015 DATA

Abstract

The purpose of this paper is to present the aspects of continuing vocational training (CVT) that companies provide for their employees as a human capital investment. Enterprises provide CVT to address the continuing structural changes in the labour market that require development and update of the technical skills, abilities, attitudes and capacities of the employers. EUROSTAT and Romania National Institute of Statistics data were analyses to observe for the Romanian labour market the global participation rate in CVT courses, the distribution of enterprises by the economic activities, the average CVT courses length of time, the CVT’s participant employer’s average cost, the type of courses and the skills targeted. The following results of the descriptive analysis were found of the latest data, the 2010 – 2015 time period : the CVT’s courses global participation rate increased by 3.5 % in 2015 compared to 2010; by the distribution of economic activities of the enterprises, financial and insurance, electricity, gas, steam supply, and information and communication activities registered the highest CVT rates, where transportation, storage and accommodation and food service activities registered the lowest rate; information and communication, electricity, gas, steam supply and mining and quarrying activities per participant employee had the highest hourly CVT courses cost. The recommendation is to increase the participation rate in CVT courses, to qualify employees according to the needs of the enterprise to perform and adapt among the multiple and permanent changes in the global economy. Thus, the employee could be apt to embrace the change and be flexible on the labour market and the employer could be able to manage the new technologies requirement for the prosperity of the individual and of the company.