question archive What would change (both in the long run and the short run) if a company paying minimum wage provided educational opportunities to their employees?

What would change (both in the long run and the short run) if a company paying minimum wage provided educational opportunities to their employees?

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What would change (both in the long run and the short run) if a company paying minimum wage provided educational opportunities to their employees?

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In the short run, if a company paying minimum wage provides educational opportunities to the employees then this will result in the increase in the cost of the company. The profit level might also decline. The workers will feel motivated to work to their highest potential.

In the long run, the productivity of the workers will increase as they have gained new knowledge and skills. The workers will now be able to efficiently contribute towards achieving the goals of the company. The company will now hire fewer workers as the existing employees are working effectively. The profit level of the company might also increase.