Why Employers Should Offer Tuition Assistance
Employers can benefit greatly by providing benefits that will impart on their employees, the skills and training to succeed within their job. Training in a degree program, related to the field an employee is already working in, will make an employee even more valuable to the employer. Also, an employee will be more committed to an employer if that employee is dependent upon the employer for educational finances. Companies offering tuition reimbursement will have less employee turn-around and more loyalty when they are supporting their employees’ educational growth. The vast majority of employers know that education is essential to unleash an employee’s potential to succeed in their field.
There are a lot of companies that offer tuition assistance programs for employees who wish to study for degrees that are applicable to a job at their place of employment. Often, these companies request that employees remain employed with their company for a given amount of time. Obviously, no employer would invest in education benefits for an employee, if that employee is going to find another job somewhere else. Some employers provide tuition assistance that is limited. Typically, limited tuition assistance is offered to part time employees. For example: UPS offers $3,000 per year tuition assistance for part-time employees, $4,000 per year tuition assistance for part-time supervisors (UPS Careers, 2009). Typically the companies that offer limited financial help do not require a specific degree program or GPA. These perks are simply offered to attract potential employees to their company. Some employers have joined forces with colleges to train their employees in specific job skills that would otherwise cost the company too much time and money to do themselves.
When installing a new tuition reimbursement program, employers should take into account the need for employee personalization in their degree field. •
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