Tuition Reimbursement Implementation Report Ashley Gatt Glen Providence XCOM/285 July 31, 2011 Tuition Reimbursement Implementation Report What can a company do in order to boost the employees’ morale, to improve productivities, to enhance efficiencies, and to retain good employees for a long-term? What can a company do to ensure that the business succeed (goals)? Companies cannot operate their businesses without the employees. For this reason, companies need to provide their employees a benefit package that will promote the companies’ concern and consideration for employees’ well being.
Many companies offer standard employee benefits package that the employees take it as a typical employment package. Instead of offering common employee benefits package, those that provide tuition reimbursement (employee educational assistance) program experience positive results in organizational development and employee retention. Many successful companies that provide tuition reimbursement program showed that they have low employee turnover rate while enjoying high productivities and enhanced efficiencies from the employees (Babcock, 2009).
In this paper, new professional opportunities that the employees with the business and communication bachelor’s degree can pursue are identified. Detailed information of types of careers and the earning potential of people with the degree often have are presented. At the same time, this paper elaborates both tangible and intangible benefits that the company can realize by implementing the tuition reimbursement program. As soon as employees earn the bachelor’s degree in business and communication, the opportunities for a new profession will become tangible and within reach.
The employees with the bachelor’s degrees in business and communication can explore new professional opportunities to work in the areas of advertising, marketing, business management (administration), human resources, and corporate training. The bachelor’s degree programs in business and communication require students to take courses in sociology, finance, business management, economics, marketing, and other business related courses that will round out the candidate’s business and communication skills in order to advance within the workplaces.
Additionally, the employees with the business and communication specialties (skills) can take aim in research and development or public relations division to grow into a professional public relations manager, trainer, or director (executive). The employees with the newly attained bachelor’s degree were taught and trained to develop diverse skill set. In addition to gaining the skill set to handle the administrative tasks, the newly minted graduates would have gained additional skills that may include: * Marketing and public relations * Speech presentation * Responding to public and consumer inquiries Maintaining contacts * Critical thinking and creativity * Strong research skills * Problem solving * Competitiveness and enthusiasm * Learning how to work with a wide range of clients * Understanding market demands * Research and analysis * Conflict management * Strong writing skills (ULinks. com, 2007) People with the degree often work as a mediator, buyer, sales manager, supervisor, development officer, labor relations specialist, business trainer, benefits administer, mediator, corporate relations officer, communication specialist, customer sales representative, college recruiter, and others.
People with the bachelor’s degrees in business and communication have choices of professions that vary in range from government agency jobs to Fortune 500 company jobs. Employers who are seeking to hire people with the bachelor’s degrees in business and communication are mainly looking for people with strong relational skills, computer skills, writing skills, and critical thinking abilities along with specialized business education that includes accounting, finance, economics, business law, management, public relations, marketing, and sociology.
The undergraduates in business and communication majors are especially adapted to the latest computer technologies such as Internet, e-commerce, e-mails, and other electronic communication. Two of the most desired skills many employers seek are social and writing skills learned from the business and communication courses. Because business and communication skills are in demand in the diverse industries, those with the bachelor’s degree in the field do not need to limit their prospects.
Other industries that offer employment opportunities for the undergraduates are technology, government, education, social services, broadcasting, and even religious professions (ULinks. com, 2007). When it comes to work, the employment benefits are one of the criteria that people seriously weigh before making the final decision. The employment benefits college-graduates are typically offered are quite different from those offered to employees without a degree. While high school graduates try to hold on to their low paying jobs, people with higher degrees tend to weigh on the potential benefits the companies offer.
A college degree offers graduate students extra benefits (earning potential) such as wider career options, better promotion opportunities, and lower chance of unemployment. Many college graduates can work in the fields that are unrelated to their major field of study while people without college degrees struggle to keep the ones they already have. Companies are more favorable toward promoting college graduates because those employees with college degrees are perceived as more dependable and serious about their jobs.
People with degrees have higher chances of keeping their jobs than those people without the college degrees. Earning potential of people who have the bachelor’s degree is proven to be higher than those who do not. According to the an article in USA TODAY, Census Bureau conducted a survey among people with and without college degrees and discovered that the people with the degrees earn nearly $1 million more over his or her lifetime than a high school graduate (USA TODAY, 2002). Moreover, a college graduate can earn $2. million working full-time job during the typical period of work-life (between ages 25 to 64) whereas a high school graduate can expect to earn $1. 2 million during the working years (USA TODAY, 2002). Implementing tuition reimbursement program not only benefits the employees who take the advantage of such program, but it also benefits the company. The tuition reimbursement program, sometimes known as employee educational assistance program, can boost employee morale while generating greater work efficiency resulting from highly motivated and knowledgeable employees.
Many human resources gurus believe that tuition reimbursement program is one of the best and most affordable employee retention tools around (Business and Legal Reports, Inc. , 2010). While employees gain new skills and knowledge by completing the degree courses, the company (employer) spends less money by supporting its employees earn college degrees than paying for the employees to attend seminars, classes (marketing or language), or training new employees.
According Jodi Albin, a human resource specialist for Pacific Continental Bank, the investment in upgrading employees’ educational levels actually translate into long-term employee loyalty (low employee turnover rate) (Shufffler, J. , 2008). The companies can use tuition reimbursement program as an effective recruitment means. The employees who work for the company that demonstrates its appreciation by boosting the company morale and culture will be more productive and efficient; thus, the company will benefit due to the improved production and efficiency.
Successful companies recognize that investing in employees in attaining new skills and education is beneficial for the companies as well as for the employees. Companies that extend their employee benefits package by including the tuition reimbursement program have lower rate of employee turnovers, higher productivities, and improved company morale. To be specific, the tuition reimbursement program, a worthy investment, improves the workplace environment, increases productivities and efficiencies, and, turns around, brings many intangible benefits to the company.
Employees who earned college degrees in business and communication can elevate higher flexibility to apply their newly learned skills in other departments. Overall, the companies that implemented the tuition reimbursement program reap benefits also because most of the employees who attain the bachelor’s degrees in business and communication are highly motivated and productive, tend to stay loyal (employee retention), and look for advancement within the companies. References Babcock, P. (2009). Always more to learn. HRMagazine, 54(9), 51-56. Retrieved July 31, 2011, from EBSCOhost database.
Business and Legal Reports, Inc. (2010). Does tuition reimbursement benefit employers? Retrieved July 31, 2011, from http://hr. blr. com Shuffler, J. (2008). Tuition programs are good investments. Oregon Business Magazine, 31(9), 51, Retrieved July 31, 2011, from EBSCOhost database. ULinks. com. (2007). Business Communication Degree: Business Communication Class, Business Communication Training. Retrieved July 31, 2011, from http://www. ulinks. com USA TODAY. (2002). Amount of schooling affects earning potential. Retrieved July 31, 2011, from http://www. usatoday. com