Tweet

Tuition Reimbursement for Employees

Written by: Louis Trahan

Article Overview: Tuition reimbursement is often seen as a risk among employers. Some consider the act to be mere encouragement for staffers to head out the door after receiving modern training. Others consider the risks associated with supplementary education to be far from worth the reward. Still others simply refuse to support the further education of their workers on theory. Out of all of these reasons, however, there is not one with enough sincerity to dismiss this often-beneficial practice.

Tuition Reimbursement for Employees

Tuition reimbursement is often seen as a risk among employers. Some consider the act to be mere encouragement for staffers to head out the door after receiving modern training. Others consider the risks associated with supplementary education to be far from worth the reward. Still others simply refuse to support the further education of their workers on theory. Out of all of these reasons, however, there is not one with enough sincerity to dismiss this often-beneficial practice.
In today’s shifting markets, companies are coming up with new and alluring ways to keep employees. It seems that, despite many advances, companies are still fairly averse to supporting the progressing education and benefit of its workers. In the views of the experts, nothing shows good faith in employees to a greater degree than support for the future and fiscal substantiation of said support. The educational value of workers can be an asset not soon forgotten.
There is some truth to the idea that workers will flee the scene after receiving costly education, as has been demonstrated to be the case in some instances. However, more often than not this is not the case. Employees tend to stick with companies that provide for them because, as is generally known, satisfaction is the top priority for the North American worker. Workers will not leave companies for greener pastures if their needs are being met. If the needs of the workers are not being met, many would argue that the employer deserves to lose out.
So it all comes back to the issue of tuition compensation. The act of reimbursing workers for education while under the roof of a company is nothing new. Long before the industrial age, owners of small businesses would supply their workers with time and benefits that far exceeded the norm. They would sponsor schooling for young workers and support families. Many argue that the notion of “profit above all else” has done more harm than good for the majority of companies. Few argue the contrary.
With small businesses enthusiastically driven out of competition by larger firms with more monetary offerings for young workers, one carrot that can be dangled with some success is that of tuition reimbursement. Showing young workers that they matter is a coherent first step to making big moves in business and worker-owner relations.

Related Articles
  Back to School, Part 1/3: Working and Learning – Can They Be Balanced?
  Employee Development...It's Back on the Radar
  Attracting the Next Generation of Workers
  33 Ways To Motivate Your Employees
  Failure Is the Tuition You Pay for Success

Article Tags: employee training, further education, supplementary education, tuition reimbursement



Related Forum Posts
Re: Ways to Boost Productivity - 1. Give Employees More Than a Paycheck 2. Provide Better eSupport Channels to Promote Self-Service 3. Complete your most dreaded tasks first thing in the morning. 4. Outsource as much as possible 5. . Turn off the TV.
CEOs and Email - Slaves? - I wonder if the emails they are responding to are filtered thru their assistants first 'cos they seem to spend a lot of their off hours responding to them. True they are successful but I'm not sure I'd be willing to pay that price. I'd be interested to know what's the in the typical day planner of Entrepreneurs on the Forum. Entrepreneurs are a different breed than Paid Employees- so it would be interesting to view the contrast.
Where I want WSI to be in Dec 31 2007 - Here are my goals for end of 2007 Employees - SEO specialist - admin assistant - sales rep - designer/data entry - copy writer (may be outsourced) Target market (client base) manufacturers 10-50 million in revenue looking for integrated marketing solution ranging from 10k - 30k Systems - crm fully utilized - project management smooth process - sales and marketing to continuously generate leads SALES (My big Goal to focus on ) Last years sales revenue was $220K This year we want to hit $500K - approx 40k per month
Re: How to be green? - Hi Evan It’s a great topic especially when it comes to going green and saving our planet. We all have a role to play and we are happy about the fact that we are into it. We have recently made our workplace greener and in the process the following changes have been implemented – 1. We provide paper invoices only if customers ask for them. Otherwise, all our invoicing is done electronically (a PDF via e-mail). 2. We have replaced the Paper Cups at our Cafeteria with Mugs for not only our in-house requirements but also for our clients. 3. We have also made it a Company policy to use only eco-friendly electronic appliances and that includes bulbs, air conditioners. 4. We are in the process of putting it into the Policy that the Employees will have to take to other transportation media – other than their personal vehicles – on at least a day per week to office. Hope we are on the right track. Regards,
Re: What do think you about these statisitcs? - [quote="Sab3awy":uve2pm9e]social networks are not just for fun. Say Twitter, I usually check it to find the updates about major news through it. So, I think it is not much of "wasting time"[/quote:uve2pm9e] Social media is a great way to break up the day in the office in my opinion. Employees can take their mind off of the monotonous work they are doing just for a few minutes. In my opinion I don't think they are wasting time at all. Consider this, would you rather block these types of sites and have your employees work all day like a drone? Or would you rather have these sites available and perhaps see an increase in productivity because your employees are working happier and in not in such a mindless state?


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

BUILDING A HIGH PERFORMING TEAM

Mistakes Made by New or Inexperienced Sales Staff

Induction – your first management job

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.