(FORTUNE Magazine) – Will the Clinton Administration make good on its campaign promise to impose a 1.5% payroll tax on companies with more than 50 workers that don't spend at % least that much on training? Not necessarily, says Labor Secretary Robert Reich. The Administration won't push for the training levy if employers act on their own. Reich, a former Harvard lecturer and longtime Friend of Bill, talked with Fortune's Ronald Henkoff.

-- Why the lack of training hurts: Some chief executives come to me and say, ''We can't afford to train our workers.'' I say to them, ''You can't afford not to train your workers. Any competitor can come in and use precisely the same machines, the same equipment. The only thing you have that's unique is the commitment and skills of your work force.''

-- Who gets hit hardest: We are seeing the development of a two-tier work force. Non-college-educated workers -- 75% of the work force -- are not getting very much training. The result has been a growing gap in wages and benefits between the college-educated and the non-college-educated. That gap will keep widening.

-- Showcase good works: The best American companies already understand that their long-term profitability depends on the quality of their entire work force. One thing we're going to do is make examples of these companies. I want to visit them. I want to show America what can be done.

-- Carrots and sticks: We're not going to regulate unless there is an absolute necessity. The Family Leave Act is a good example of a stick. You have to set certain standards, not only to ensure that the workplace is minimally decent but also to ensure that all companies are moving in a progressive direction in terms of profitability and American competitiveness. With regard to carrots, this agency is filled with carrots. We have billions of dollars of training money that could be used for helping companies get the workers they need and also to ensure that their workers are prepared.

-- The 1.5% solution: The President and I are committed to that. That's the goal. I hope we don't have to regulate it. The ideal would be to prod all companies into understanding that their future depends on a well-trained work force. But prodding and coaxing become much more credible if you have a club in your right hand -- if you're righthanded.