Leverage Tuition Assistance for Employee Development

by Joshua Smith, Mike Echols

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Mike Echols recently wrote in CLO magazine, “it’s a well-known fact that effective leadership development is a necessity if organizations are to survive and thrive in today’s global marketplace. Yet, learning is still struggling to get the investment resources needed to develop future leaders.”

Many enterprise talent goals included: to attract motivated employees, keep them engaged and committed, give them opportunities to apply what they learn, and to develop a pipeline of new leaders. Tuition assistance is a common benefit to encourage employees to continue education and help increase retention to build their leadership pipeline.

When done correctly and measure the outcomes, a company can offset their investment (what they pay for employee’s tuition assistance) with the savings from reduced turnover.

To help guide the roundtable discussion, our facilitator will focus the panelists on some or all of the following discussion points…

  • How does the tuition assistance benefit relate to the critical talent issues of recruit, develop, and retain?
  • Why is $5,250 a common upper limit to the tuition assistance annual benefit?
  • Why is the tuition assistance company more like a joint venture than an operational expense?
  • What risk mitigation actions are available to reduce the risk in the myth: “if we educate them they will leave.”
  • What are the performance review implications if the tuition assistance expenditures were to double year over year?
  • What are the pros and cons of outsourcing your tuition assistance program?
Joshua Smith
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Mike Echols
Joshua Smith
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