Plus, learning these shortcuts will give you a broader understanding of the software. Learning hotkeys and keyboard shortcuts is the best way to use Word quicker. If you only have a basic understanding of Microsoft Word you could be getting pipped at the post by someone who does. Although apparently, people with a more in depth knowledge are getting recruited quicker.
Virtually all workers in mid and high level jobs have some familiarity with Word (and Excel), we all use it. Ease of use and broad functionality has made MS Word one of the most successful ever programs.