Variations in Human Capital Investment Activity by Age

Three hypotheses concerning human capital investment by older individuals were examined using the Adult Education (AE) file from the 1995 National Household Education Survey (NCES). While late career workers (50-65) participated less in activities that provide primarily general skills, they were more likely to participate in academic credentialing programs, targeted career and job-related courses, on-the-job computer-based training, and “unspecified” other formal training activities. There was no difference in the levels of employer support reported by older workers. The implication of these results is that older adults' human capital investment is more complex than conventional economic formulations of the decision-making process suggest. Both the content and delivery approaches associated with work-related education and training must be accommodated in future conceptual models of the process. Further, the relevancy of Sterns' (1986) model of environmental change is also highlighted. Practical implications suggest that organizations must reconsider older workers' interest in continuing education/training activities.