The company I work for has started doing this in a small way... we’ve got some large software testing contracts which require a hefty number of entry and intermediate software testers. To fill these positions, the department head started offering evening tech classes for free and hiring the cream of the crop from those classes. Over the past year or two we’ve hired several dozen smart, young, and motivated people to fill these positions. It’s interesting to note that the majority of these hires are Russian immigrants.
I think it’s the ideal solution.
I think most workers today would be happy to work for 8 hours and then crack the books for a couple of hours at night to maintain training or improve.