Tuition Reimbursement
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Running Head: TUITION REIMBURSEMENT
Tuition Reimbursement
March 15, 2010
“Education is a key factor in fueling economic growth, but the educational attainment of our workers is slipping badly” (Bosworth 2008). Since the advancement of technology, education becomes increasingly valuable as well as its utilization in various aspects on the job. Many organizations acknowledge that employees are the most beneficial assets, undoubtedly, because of the dedication and commitment they maintain; however, a program created to assist in the endeavors of an educational stature will create countless invaluable employees, also awards organizations with a competitive advantage with attracting potential employees.
By enabling employees to continue their education, they are more likely to improve their work rate and in doing so, increases economic growth. “The increase in educational attainment of the labor force made a substantial contribution to economic growth and rising productivity as much as 20 to 25% of overall labor productivity growth, according to some estimates” (Bosworth, 2008). Companies often disregard educational instruction to their employees in efforts to lower expenses, when in fact the skill, knowledge and abilities would decrease the amount the company would have to pay for in unemployment wages due to incompetency, thus leading to employees being relinquished from their positions. Unemployment rates are less prominent with those who have a higher educational degree.
According to a study in 2006, Out of 120 million adults between ages of 25-64, only 51 million or 42% obtained an associate’s degree or higher, and out of 21 million, only one-third reported having some college but obtained no degree, but they managed to achieve an industry level certificate (Bosworth, 2008). Also, instituting an education plan assists companies with developing strategies to promote success and advancement amongst employees.
A tuition reimbursement program enables...
Tuition Reimbursement
March 15, 2010
“Education is a key factor in fueling economic growth, but the educational attainment of our workers is slipping badly” (Bosworth 2008). Since the advancement of technology, education becomes increasingly valuable as well as its utilization in various aspects on the job. Many organizations acknowledge that employees are the most beneficial assets, undoubtedly, because of the dedication and commitment they maintain; however, a program created to assist in the endeavors of an educational stature will create countless invaluable employees, also awards organizations with a competitive advantage with attracting potential employees.
By enabling employees to continue their education, they are more likely to improve their work rate and in doing so, increases economic growth. “The increase in educational attainment of the labor force made a substantial contribution to economic growth and rising productivity as much as 20 to 25% of overall labor productivity growth, according to some estimates” (Bosworth, 2008). Companies often disregard educational instruction to their employees in efforts to lower expenses, when in fact the skill, knowledge and abilities would decrease the amount the company would have to pay for in unemployment wages due to incompetency, thus leading to employees being relinquished from their positions. Unemployment rates are less prominent with those who have a higher educational degree.
According to a study in 2006, Out of 120 million adults between ages of 25-64, only 51 million or 42% obtained an associate’s degree or higher, and out of 21 million, only one-third reported having some college but obtained no degree, but they managed to achieve an industry level certificate (Bosworth, 2008). Also, instituting an education plan assists companies with developing strategies to promote success and advancement amongst employees.
A tuition reimbursement program enables...