This document summarizes the conclusions of research papers and participant discussions at a conference on employer-sponsored training in 1988. Following an introduction, the first section offers support for the statement that employers invest heavily in training their best-educated and trained employees. The following are among the conclusions reported: (1) employer-sponsored training accounts for about two-fifths of U.S. investments in human capital; (2) company-sponsored training is complementary to, not a substitute for, investments in academic and problem-solving skills; (3) low income employees are poorly educated and receive little training from employers; (4) nonwhite employees are less likely than white employees to be trained by employers; and (6) women are more likely to enroll in training programs without employer sponsorship and are less likely to receive training from employers. The second section addresses the statement that employer-sponsored training raises employees' wages and improves their employability more than other forms of training. Among the conclusions reported are the following: (1) whether employers over- or underinvest in training is not known; and (2) trained workers are less likely to quit their jobs. The third section supports the statement that slowing work force growth, expanding trade, and accelerating technological advances are changing the nature of work, the skills required, and the level and type of employers' investments in training. The fourth section considers what is involved in the participants' pledge to promote employer-sponsored training, strengthen academic and problem-solving skills, use training institutions more effectively, and rethink the postsecondary education and training system for the disadvantaged. The document concludes with 15 unanswered questions that suggest further research. (CML)