I do understand having skin in the game, but at the same time it pushes away candidates, particularly during this labor shortage[1]. And it has disparate racial impact, because oppressed minorities are less likely to have the finances to invest in their own tools.
My thought is that any good company should be able to create emotional skin in the game (i.e. caring) without needing financial skin in the game. If a company isn't there, it needs to sell its mission better and link the availability of tools to that mission.
[1] if you subscribe to the view that there is no shortage but only an unwillingness to pay fair wages (which is totally valid if there are no upfront costs to getting a job), consider that after months of losing savings to a pandemic, candidates may literally not have the cash to buy tools needed for a new job, so in this case it is truly a shortage of candidates with the ability to get the tools
What jobs are you imagining have such difficult/steep tool requirements?
My experience was auto-mechanic, and that strikes me as exceptionally high in the required tools department. They were willing to put up with my being tool-less for like two years before replacing me when an old-timer showed up looking for work, with a freezer sized toolbox in the bed of his truck, and I was clearly not committed to the career having still not invested in even a toolbox.
Construction workers and framing carpenters can start out with very little. A lot of the work is just labor. Back when my dad owned a concrete construction company he would bring most of the durable larger tools in quantity.. stuff like sledge hammers, pickaxes, shovels, those were shared. But the individuals were expected to bring a hammer for nailing/disassembling the framing, and steel-toe boots for OSHA compliance b.s. If you started out without even a hammer you'd just be a grunt then buy a hammer a week later, though someone would probably loan you one if you were that destitute. I think there were more barriers in the area of the union and trade school requirements, but not for a laborer AFAIK.
My thought is that any good company should be able to create emotional skin in the game (i.e. caring) without needing financial skin in the game. If a company isn't there, it needs to sell its mission better and link the availability of tools to that mission.
[1] if you subscribe to the view that there is no shortage but only an unwillingness to pay fair wages (which is totally valid if there are no upfront costs to getting a job), consider that after months of losing savings to a pandemic, candidates may literally not have the cash to buy tools needed for a new job, so in this case it is truly a shortage of candidates with the ability to get the tools