Excerpts from the presentation:
Short and long-run effects
>> Short-run stimulus multiplier
>> Long run benefit-cost ratio
- Growth theory demonstrates that investing in people is crucial in determining long-term success for a province like NB
- Investing in education increases labour productivity and boosts real incomes, so might as well start when they are young
Conclusion and recommendations
- To have the full benefits of early childhood education and care the ECEC sector must have trained staff
- Policies should encourage improved training of ECEC workforce
- NB should institute training requirements
- Any wage subsidies should be linked to training in order to encourage retention of trained staff
- Revamping of HRM practices can deliver large gains in job satisfaction & retention