Tuition Reimbursement

In: Business and Management

Submitted By mystical1257
Words 1172
Pages 5
Tuition Reimbursement Program Proposal
Misti Ford
Axia College University of Phoenix
XCOM 285
December 4, 2012
Priya Soni Facilitator

It is very common for men and women of all ages to attend college courses to advance their knowledge in the field that they are currently working in. Among our company we have a wide variety of people who currently hold an Associate’s Degree and want to earn their Bachelor’s Degree while maintaining the position that they currently hold within our company and possibly advancing into a higher position after completion. I feel that it would be a good asset to our employees as well as to our company to assist each individual that shows an interest in taking courses by allowing them to take advantage of tuition reimbursement program. According to Dye, F. (2003) tuition reimbursement is when a student pays for college costs upfront t and is later reimbursed at a later date. This program is implemented in many different career fields and is very beneficial to a great majority of companies that offer tuition reimbursement or even tuition assistance to their employees. There are many fields that have an allowance for their employees to advance their training and continue going to school either at a campus or online. One example and the most common practice that implements this program is the health and medical field. Certified Nursing assistants are at the bottom of the chain and will work their way up and become Registered Nurses with a Bachelor in Science all from the assistance of their employer. Most medical facilities would want to see their staff succeed by increasing their knowledge base in the health industry. According to Jenkins, L. (2012) it is also a benefit because the facility does not have to hire from outside, but rather promote from within. If they do not have to hire and train people then it provides a…...

Similar Documents

Tuition Reimbursement Implementation Report

...Tuition Reimbursement Implementation Report XCOM/285 Tuition Reimbursement Implementation Report This year our company has had a very profitable year and is willing to expand our employee benefits. As an employee in the benefits department I feel that the company should add tuition reimbursement for bachelor degrees in business and communication. I’m happy to hear that the company has already approved a budget for this expansion, but I would like to give more incentives to show how these updates will enhance the business as a whole. The benefits to tuition reimbursement programs for a corporation are, motivation of it’s employees to increase their education, which will give the employee the understanding of the world and other cultures than they had prior to attending college. When they have received the knowledge on a variety of subjects this will increase how they are able to maneuver in a corporate setting. This makes the employee more marketable for advancement with in our company. Seeing employees sacrifice more time out of their day to day lives to pursue higher education that is beneficial to their success and the success of the company. Our employees will realize we care more about their well-being, and are willing to invest in them, so that they can succeed. We are also showing that the company is just as invested in them as they are with us, and willing to promote those with in the company, to those positions we are seeking fulfillment. Employment......

Words: 1268 - Pages: 6

Xcom285 Tuition Reimbursement Implementation

...Tuition Reimbursement Implementation Report XCOM/285 April 7, 2013 Keeping a company at the top of the game is no easy task for any president or CEO. They must have some of the best and brightest individuals in all areas in order to be successful. For a company to be able to fill those spots, it is extremely important to find educated people that are also motivated to help drive them forward. The best way to do this is to provide a tuition reimbursement program. Having medical, dental, and vision benefits is nice to offer to employees but, in today’s day and age it is more or less the norm. To keep employees happy and interested in coming to work or to help improve their skills, having a tuition reimbursement program is a key step in taking our company to the next level. As reported by Education-Portal.com, “Many successful companies that provide tuition reimbursement program showed that they have a low employee turnover rate while enjoying high productivities and enhanced efficiencies from the employees.” (Education-portal, 2013). This is what causes them to be at the top or run just like a well-oiled machine. This report will address the tangible and intangible benefits, the types of careers and earning potential and the new professional opportunities that a business and communication bachelor’s degree can offer. When looking at the tangible and intangible benefits to having a business and communication bachelor’s degree is how it will change the employee.......

Words: 1175 - Pages: 5

Tuition Reimbursement

...TUITION REIMBURSMENT BENEFIT XCOM 285 – Essentials of Managerial Communications Instructor: David Harris Week 7 Assignment Claudia Pino Our company has had a very profitable 2012, and the goal is to continue this raising trend. In order to continue achieving these results our company is looking to expand employee benefits by adding tuition reimbursement. I currently work in the benefits department and I have been recommended by my manager to prepare a report regarding the benefits of adding a tuition reimbursement program for our employees. This program will cover tuition reimbursement for qualified employees that will be enrolling to complete their Bachelor’s Degree. The report will present the effects and benefits that adding tuition reimbursement will have on both our company and our employees. The report is also going to present the type of degrees that should consider for reimbursement through this program. “Employers have vested interest in making sure employees...

Words: 1088 - Pages: 5

Tuition Reimbursement Implementation Report

...Topeka Lathers Tuition Reimbursement Implementation Report XCOM/285 Robyn Walker January 9, 2014 Every company has employees that would like to further their education. For the employees of our company, there is no better time than now. Recent approval by our company to budget for tuition reimbursement for employees seeking opportunities to enhance their skills in their field of work, we will see high interest in ambitious and talented employees. In this paper we are going to discuss professional opportunities business and communications degrees offer, different career opportunities available for individuals with these degrees, the earning potential of individuals with the degree, and how this company will benefit from assisting individuals with a degree in business and communications.. This company has recently approved a financial resource for tuition compensation for workers looking to further their training in business communications. We are intending to talk about professional possibilities business and communications qualifications provide, various vocation prospects readily available for people with the qualification, as well as how the company will take advantage of those with a qualification in business and communications. Education is a key tool to an individual’s personal and professional success. It can open doors for individuals where they once would have been closed or unavailable. In today’s day and age,......

Words: 1077 - Pages: 5

The Benefits of Offering Tuition Reimbursement to Employees

...The Benefits of Offering Tuition Reimbursement to Employees Trina Heyrman XCOM/285 November 16, 2013 Professor Elisa Rowell When it comes to the many benefits a company could provide for their employees, there are three important ones in the minds of those employees. These are insurance, vacation time, and flexibility. Most employees do not realize that there is another, more potentially life changing benefit that could be offered. This option is of course, tuition reimbursement. Companies that offer tuition reimbursement find themselves with unique opportunities, ones they might otherwise never have had a chance to take advantage of. Companies that offer tuition reimbursement can do things like require employees who take advantage of the opportunity to stay with the company for a certain amount of time, thus giving the company a potentially loyal and likely permanent employee on staff, who has been trained properly for the duties his or her job will entail. A company can also require employees to maintain a high GPA, to ensure only the best work comes from our employees. In order to keep the usage of this benefit restricted to people whose degrees will help the company, the reimbursement can be set for only employees pursuing a business and communications degree. When a company offers its employees tuition reimbursement, it makes the employee more likely to be loyal to the company, which in turn can have an effect on the chances industrial espionage will take......

Words: 692 - Pages: 3

Tuition Reimbursement Implementation Report

...Tuition Reimbursement Implementation Report Without employees, a business cannot function. When a company needs to recruit new employees they need to be able to offer the employee a benefits package order to show the new employee the company has concern and consideration for the employee. One benefit that most successful companies offer is tuition reimbursement. They offer this benefit to employees who wish to further their education. Tuition reimbursement programs have benefited companies by having a low turnover rate and high productivities with enhanced efficiencies from the employees. After reviewing statistics about tuition reimbursement, we are happy to inform you our company will be offering tuition reimbursement to employees who wish to further there education in Business and Communications. I plan to discuss professional opportunities degrees in Business and Communication can offer. Also, with this type of degree, what career opportunities and earning potential an employee has, and how the company can benefit from individuals with a degree in business and communication. First, we need to start by discussing what a business degree has to offer, and what the degree is. “A degree program in Business Communications typically leads to an associates or bachelor’s degree and teaches students such skills as public speaking, written communications, communication software use media interactions and interviewing” (Career Information for a Degree in Business......

Words: 1092 - Pages: 5

Tuition Reimbursement

...Tuition Reimbursement Vanessa Lewis XCOM 285 09-04-2011 Suzanne Delger Tuition reimbursement is a good way to attract employees that are looking to further their education. Companies see it as an opportunity to retain their employees and increase job performance and loyalty. In order to get what you want you have to give them what they want. However, it is really up to the employee if he or she stays with the company once he or she has earned their degree. There are many things that we have to look at when it comes to tuition reimbursement because it may help a company meet their short term turnover goals, but really could go either way. Most want to better themselves in some way; tuition reimbursement encourages those that are unable to pay for college. It is easier to make that choice when employees know there is financial help available. Also, knowing that they can then move forward in the company helps the employee and the employer. As adults, one has to work and someone can come in do the same job that you do and make more money than you do just because they have a degree to go with their skills. When most employees even think about pursuing a degree, it is because they are looking for more income. Having a degree opens up the door for employees to earn more money on the job that they already love. On a weekly basis, someone with a high school diploma, on average, earns $507. Some one with a bachelor’s degree, on average, earns $834 a week, a......

Words: 874 - Pages: 4

Tuition Reimbursement Implementation Report

...Tuition Reimbursement Implementation Report Business is all about finding the right balance between performance, integrity and employee retention. “Success in business is seen as making profits and advancing private interest and having an unlimited ambition for money, position and power whereas the moral life by contrast, focuses on duties to others and places others’ interest over self,” said by M.V. Subbiah, Chairperson, National Skill Development Corporation (NSDC). The value of providing tuition reimbursement from a company such as ours is priceless to its employees and its shareholders. It may seem impartial advice, because I am one of those who would benefit from tuition reimbursement. As an active shareholder in my company and a working member of management I see the need for this benefit to be offered. By having benefits such as this one I believe that our company shall see a large return for its investment in education. Consider the following when addressing the question of tuition reimbursement: The retention of people and the decrease in turnover; improved performance within our organization; motivation for our associates to succeed; stronger promotions within our company. As a four year associate of our company I have found working at Wal-Mart to be one of the best choices of my life. I have come to work with long term associates who have dedicated so many years to a belief that we provide our customers the lowest prices and best customer service in retail....

Words: 1398 - Pages: 6

Tuition Reimbursement

...Tuition Reimbursement is a viable option that our company should look at as a means of giving our employees a way to advance their education and their positions in our company. This company was built by people and it is in those people that we should invest in, nurture and show that we are committed to their success not just here but in their life success. Often times companies look outside of their own ranks to hire people with advance degrees or more experience when there should be people here that get promoted so that growth my begin from the entry level as it should like the roots of a tree. Many of our employees are not satisfied in the positions they are in but this is not to say they are not satisfied with the company but they want more from themselves as individuals. Our profits show that we have employees that are committed to us, now it is time that we show that we are committed to them and their future. There are opportunities right now within our organization that our own employees would not qualify for without a degree, most of whom have the experience but are being held back because they do not have the one thing that would make them more hirable. As the company grows and new positions become available our employees would also like the opportunity to grow with the company as well, but in most cases with the rising costs of college it becomes almost impossible to better yourself. In todays job market our employees need all the help they can to compete......

Words: 1083 - Pages: 5

Tuition Reimbursement Implementation Report

...Tuition Reimbursement Implementation XCOM 285 Essentials of Managerial Communication Tuition Reimbursement Implementation The popularity of tuition reimbursement programs is growing across America’s businesses. Some believe that tuition reimbursement for employees is only encouraging them to seek jobs elsewhere after the employee receives his or her degree. However, studies outlined by Pattie, M., Benson, G., & Baruch, Y., in Tuition Reimbursement, Perceived Organizational Support (2006) disclose that employers who take an active role in the education process with the employee are more likely to have higher ratios of employee retention after graduation. New Opportunities for Employees Career growth and advancement are two elements employees value about their jobs. It is essential for an employee to feel a sense of accomplishment when allowed to apply the skills gained through education to the employees current job rather than feeling as though they need to change jobs to apply his or her degree. Tuition reimbursement programs when coupled with career growth and advancement for employees can be extremely effective and lucrative for companies. For example, implement an incentive program for a raise or a promotion for employees close to graduation acknowledging their latest accomplishment. This type of tactical move by an employer encourages employee retention, making him or her feel valuable and important in their job. Employees feel valued when an......

Words: 1174 - Pages: 5

Tuition Reimbursement

...Tuition Reimbursement Implementation A tuition reimbursement plan offers many benefits to both employers and employees. The benefit to the employee is the opportunity to sharpen their skills through advanced education. The main benefit for our organization is the ability to attract and retain valuable employees. Tuition assistance is a powerful benefit that can be used as an advantage by our company to employ a better educated work force and a continued supply of qualified candidates to move up the chain of command. If employees are able to further their education they will become more skilled and as a result will provide more value to our company. The knowledge and skills that employees gain from their education can translate into a more confident, productive, on the job employee who has the ability to make executive decisions when the need calls. An educated employee is more apt to take on additional assignments, is more capable of utilizing leadership skills, thus improving the company’s professional image in the long run. The more an employee knows the easier it is to promote them upwards as well as laterally, developing a more rounded and happy employee. Providing tuition reimbursement develops team players through school studies increasing employee retention because employees are more likely to be loyal and dedicated to a company they feel is also loyal to them and has a vested interest in the development and success of its employees. Loyalty reciprocates because......

Words: 1069 - Pages: 5

Tuition Reimbursement

...Employee Benefits: Tuition Reimbursement Program Benefits department (Axia College XCOM-285 wk 7) This past year here at company X we have had a very profitable year; and it’s important that we do everything that we can to make sure that we maintain this strong progression forward. Now, of course we have made strong financial strides; and we will continue to improve on the external factors that have gotten us to this point. However, I feel that it is imperative that we also pay close attention to the internal factors that will pay dividends for this company in the long run. As many of you know, it was approved in the budget some time ago to add the employee tuition reimbursement program. This option would be specifically geared towards those employees that are really looking to grow with our company, and achieve another level of knowledge by attaining a degree in Business or Communications. Until now we have overlooked the benefits of providing this option to our employees, but I believe now is the time to go forward. By looking at the overall benefits to our company, it should be evident why this will be a good move for company X. Currently 45% of our employees do not have a college degree. And after taking a company wide census poll among our staff approximately 80% of those people would like to attain a degree but have not done so due to a lack of time or resources. This lack of knowledge drastically limits the upward mobility of many of these......

Words: 1061 - Pages: 5

Tuition Reimbursement Implementation Report

...Tuition Reimbursement Implementation Report James Biggs XCOM 285 November 17, 2011 Lisa Reitz Tuition Reimbursement Implementation Report Every company has employees that would like to further their education. For the employees of our company, there is no better time than now. Recent approval by our company to budget for tuition reimbursement for employees seeking opportunities to enhance their skills in their field of work, we will see high interest in ambitious and talented employees. In this paper we are going to discuss professional opportunities business and communications degrees offer, different career opportunities available for individuals with these degrees, the earning potential of individuals with the degree, and how this company will benefit from assisting individuals with a degree in business and communications. Students who pursue a business communication degree are trained in a variety of principles and business practices to work in the fields of marketing, public relations, networking, and advertising. Business management is another opportunity for graduates who have completed business communication training, and many choose to open their own businesses as a consultant. Speech communication is an important part of business communication training, as well as developing technical skills, strong language skills, and the ability to work with a diverse range of people (ULinks.com). Any individual who works in corporate America will find that an......

Words: 1253 - Pages: 6

Xcom 285 Tuition Reimbursement Implementation

...Tuition Reimbursement Implementation Report Ronald Ahrens XCOM/285 Essentials of Managerial Communication University of Phoenix The following report was helping us explore why we should expanding employee benefits with in this he company. We had a good year but without a good year it would benefit the company so adding tuition reimbursement as an employee benefit would be great. It would help the employees working on their degree in business or communication as they are working for us so this can be a positive in more than one way showing we care about their interest expand their career by going back to school. The company is in the perfect position to proceed with the education reimbursement employee benefit due to the fact that the company has already approved a budget inclusive of this additional employee benefit costs by paying 100 percent for a A 70 percent for a B and a 50 percent for a C. Expanding the benefits to include tuition reimbursement will increase the way we retain people because they will stay with a company that helps with their school I did when I went to college because the company paid for it so it help make the choice. Study show during the last decade, more companies are offering a tuition reimbursement benefit and are spending more money helping employees get degrees the last two company I have been at have done it. Universities and community colleges have started offering more flexible way to go to college for working students and even offer...

Words: 1003 - Pages: 5

Tuition Reimbursement Implementation Report

...Tuition Reimbursement Implementation Report XCOM/285 July 22, 2010 There are ways an employees can benefit their companies, and one of the way is to further their education and apply the knowledge towards their careers to better their companies. Their education not only can better companies, but also can contribute to advancing their current positions in the company. Now there are courses that are provided online at colleges and universities. The online classes can be extremely beneficial to the full-time employees, because they can log on and complete their school assignments anytime during the day, and weekends. A plan such as this could retain the employees and also attract new ones. The convenience of this option will attract a lot of employees once they get more familiar with the online program. Investing in our employees’ education is an excellent idea, especially with the reasons provided. The company’s profits could partially be used towards helping our employees with their tuition reimbursements. The most important thing about this idea is to keep advance our current employees to a higher education and then apply them to business in a profitable way. Expenses such as spending it on hiring new employees through outside agencies could be prevented if the company to retain them. Earning a degree could open all sorts of doors for current employees. For example, a pay increase, and this could be a good incentive for the employees to obtain a degree...

Words: 1076 - Pages: 5