It’s not uncommon for adults to continue their education after entering the workforce. In order to remain competitive in today’s economy, it’s important for people to broaden their knowledge and expand their skill sets. Since returning to school can often prove financially cumbersome many people request that their employers offer full or partial tuition reimbursement. However, depending on the size of your company, you may not be able to offer this amenity to every employee who requests it. The next time an employee asks you to provide financial assistance for their continued education, take care to consider the following factors.
1. Has This Person Proven Him or Herself an Asset?
If your tuition dollars are limited, it’s in your best interest to allocate them to people who have proven themselves assets to your company. An employee who does as little as possible or piggybacks off the hard work of others is not as deserving as someone who consistently puts their best foot forward and goes the extra mile. This isn’t to say that you should only provide assistance to your most accomplished workers, but those who show promise and have proven themselves are more likely to benefit from continued education than those who just want to coast by. Anyone looking to learn about smart tuition investments can find out more here.
2. Will This Person’s Continued Education Benefit Your Company?
When people ask their employers to fund their education, they often cite the ways in which the employers can benefit. When faced with a tuition request, take some time to think about how the knowledge and skills the employee will acquire can help your business’s bottom line. If you don’t feel that these courses will enable the employee to do his or her job more efficiently, this may not be a wise investment on your part.
3. Will This Person Stay With Your Company?
Few things are more frustrating than having an employee jump ship after you’ve paid for their education. By investing in someone’s education, you’re essentially investing in that person – and if that person isn’t likely to stay with you long-term, you’re wasting your money.
In recent years, members of the workforce have returned to school in record numbers. In an effort to make this venture more affordable, many of them request financial assistance from their respective employers. Unfortunately, a fair number of small businesses and mid-sized companies are unable to offer tuition reimbursement to everyone who asks for it. To ensure that you make wise investments with your business’s tuition dollars, ask yourself the previously discussed questions the next time you receive a request for assistance.