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Employee Tuition Assistance: The Payoff and the Practice. Co-Presenters: Bill Wiggenhorn John Zappa Sponsored by:. How well is your company managing and maximizing its investments in employee education and training?.

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Employee tuition assistance the payoff and the practice

Employee Tuition Assistance: The Payoff and the Practice

Co-Presenters:

Bill Wiggenhorn

John Zappa

Sponsored by:


Employee tuition assistance the payoff and the practice

How well is your company

managing and maximizing

its investments

in employee education

and training?


Employee tuition assistance the payoff and the practice

In the new economy, your workforce is your competitive edge.Workforce and culture are the only things that competitors cannot easily duplicate.The High-Performance Workforce Study, Accenture 2003


Top reasons employees remain with their employer
Top Reasons Employees Remain with Their Employer

  • Exciting work & challenge

  • Career growth, learning & development

  • Working with great people & relationships

  • Fair pay

  • Supportive management/ great boss

    Retention Drivers Report,

    Career Systems International, 2004


Employee tuition assistance the payoff and the practice

Tuition reimbursement is the most common retention program utilized by companies (62%)

#2 Competitive vacation and holiday benefits (60%)

#3 Competitive salary (59%)

SHRM / The Wall Street Journal’s CareerJournal.com

Job Recovery Survey, 2003


Tuition programs are widespread
Tuition programs are widespread…

An estimated 75% of U.S. workers are eligible for some form of education reimbursement.

Society of Human Resource Management (SHRM)

An estimated 35% of U.S. companies offer some form of tuition program.

CAEL 2004 Tuition Survey


Cael s 2004 tuition assistance policy study
CAEL’s 2004Tuition AssistancePolicy Study


Cael s tuition assistance policy study
CAEL’s Tuition Assistance Policy Study

  • Contacted 34,000 HR Professionals across the U.S.

  • In-depth survey with over 1,300 offering tuition benefit

  • Unique sample drawn from all industries and companies of all sizes

  • Purpose was to document current practices

  • Over sampling in 6 industries where workforce development is critical to 21st century: Financial Services; Healthcare; Information Technology; Manufacturing; Telecom; and Utilities


Employee tuition assistance the payoff and the practice

Over 85%of companies claim that their education and tuition benefits are animportant strategic investment.74% of companies claimthat their education and tuition benefits are an effectivestrategic investment.CAEL 2004 Tuition Survey

Key Findings:


Poll what is the most important reason your company offers
Poll: What is the most important reason your company offers ...

  • Improve retention

  • Improve productivity

  • Increase employee skill set

  • Develop promotable employees

  • Strengthen recruitment

  • Not sure



Wisdom from the trenches

“Education impacts

Strengthens

The value of

The company—

increasing

retention,

morale, and

productivity.”

Wisdom from the trenches…

CAEL 2004 Tuition Survey


Employee tuition assistance the payoff and the practice
Tuition Supports Retention impactsHave participants in your tuition program tended to stay at your company longer than non-participants?

CAEL 2004 Tuition Survey


Employee tuition assistance the payoff and the practice
Tuition Supports Productivity impactsHas job performance been noticeably better for participants than for non-participants?

CAEL 2004 Tuition Survey


Why the disconnect
Why The Disconnect? impacts

  • No clear lines of responsibility for

    • Developing policy

    • Promoting the benefit

    • Advising employees

    • Approving employee requests

    • Reporting on program activity

  • Decision-making is spread across multiple groups

    • Corporate/head office

    • local business unit

    • supervisors

  • CAEL 2004 Tuition Survey


    Employee tuition assistance the payoff and the practice

    Looking toward the future… impacts

    Greater than 70%expect their investment levels in both external and internal education and training benefits to remain the same or to increase.

    CAEL 2004 Tuition Survey


    Why are educational budgets increasing
    Why are educational budgets increasing? impacts

    • Rising costs of education

    • Anticipate greater participation by employees (their choice)

    • Greater need by the company in terms of skills; want to stay competitive

      CAEL 2004 Tuition Survey



    Employee tuition assistance the payoff and the practice

    • Leverage technology impacts for increased efficiency

    • Create networks with education providers to manage education costs

    • Measure the program’s effectiveness to drive quality outcomes


    Leverage technology for increased efficiency
    Leverage technology for increased efficiency impacts

    • Utilize technology to automate administrative elements:

      • Approval of applications

      • Notification of approval

      • Tracking of program usage

      • Payments to education provider

  • Reduces administrative burden

  • Enables standardized delivery

  • Supports greater tracking and management of program


  • Create networks with education providers to manage education costs
    Create networks with education providers to manage education costs

    • Seek partnerships with educational institutions to secure preferred rates

    • Develop custom degree programs

    • Potential for substantial cost savings and more directed education


    Poll what s holding you back from measuring effectiveness of your tuition program
    Poll: What’s holding you back from measuring effectiveness of your tuition program?

    • Lack of reporting tools

    • Technology limitations

    • Decentralized program responsibility

    • Unclear or complex program policy

    • Other


    Measure the program s effectiveness to drive quality outcomes
    Measure the program’s effectiveness to drive quality outcomes

    • Set metrics

    • Collect data to measure and systematically report

    • Analyze program outcomes


    Employee tuition assistance the payoff and the practice

    How can your education program support outcomeslifelong learning?


    Employee tuition assistance the payoff and the practice

    • Link outcomes tuition policy to outcomes

    • Linkeducation and training programs

    • Think globally to support your workforce as it evolves



    To receive a copy of cael s tuition survey

    To receive a copy of CAEL’s Tuition Survey: outcomes

    www.cael.org/reply.htm

    Email: jzappa@cael.org

    Phone: 312.499.2334