Tuition Reimbursement Implementation Report

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Tuition Reimbursement Implementation Report
Nicole Helle
University of Phoenix
XCOM/285

Tuition Reimbursement Implementation Report
Business is all about finding the right balance between performance, integrity and employee retention. “Success in business is seen as making profits and advancing private interest and having an unlimited ambition for money, position and power whereas the moral life by contrast, focuses on duties to others and places others’ interest over self,” said by M.V. Subbiah, Chairperson, National Skill Development Corporation (NSDC).

One way of retaining employees and helping in their growth in their careers is a tuition reimbursement program. National statistics show during the past decade, more companies are offering a tuition reimbursement program. Universities and community colleges offer more flexible classroom hours for students who work and some even offer online degree programs.

In 2003, companies paid an estimated $10 billion in tuition reimbursements, according to a 2004 survey by Workforce Management. “More individuals are taking advantage of this benefit, “ said Debra Johnson, benefits manager of LifeBridge Health, which owns and manages, Sinai Hospital, Northwest Hospital, Levindale Hospital and Jewish Convalescent Home. “It’s a good investment for all of our employees.”

Small businesses also are using tuition benefits as a means of luring good workers from top companies. Covering tuition costs for employees also can save small businesses money in staff turnover by encouraging entry-level workers to train for jobs with greater responsibility.

Types of careers people with a degree have are more varied than people realize. Of course it involves the obvious, such as management and marketing, but there’s an increasing need for business majors to apply for their skills in government, international commerce, health care and non-profit organizations. These areas serve as the back bone for economic, political and social systems at all levels. A business degree can be applied to virtually any industry and can also be used to help a person have a successful career. Cited below from; Financing Options - Tuition & Financial Aid - Admissions and Costs - Golden Gate University is information on the earning potential of people who have degrees. Associates Degree in Business Administration

Associate degree programs are generally two-year programs offered by technical institutes or community colleges. They are designed to give students a general education in business, and there are many satisfying careers available to the holder of an associate’s degree in business. Here are the starting salaries in business careers for associate’s degree holders. Office Manager $37,380

Executive Assistant $41,850
Retail Store Manager $41,850
Administrative Assistant $29,893
Human Resources $49,821
Customer Service Representative $31,886

Bachelor in Business Administration
There are many rewarding careers available to the proud graduate of a bachelor’s program in business administration. Here is a breakdown of the various positions and their average salaries. Remember, salaries vary considerably with experience, so you can assume starting business salaries are somewhat lower. Controller (Financial) $87,777

Human Resources Manager $61,526
Project Manager, IT $78,446
Project manager, Construction $76,908
Human Resources Director $72,806
Executive Administrative Assistant $36,454

Masters in Business Administration
Just as recruiting has increased in the United States, MBA salaries also have risen—as have tuition costs. MBA graduates want a return on this substantial investment in their education, and it looks like they’re getting it. MBA degree holders have the strongest hold on the highest business career salary. Consulting $101,736

Energy Utility $100,263
Finance $103,122
Health Care $111,477
High Tech $ 98,621...
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