It’s not just about the money. That’s one of the takeaways of a recent webinar discussion with EdAssist’s Mark Ward and Tracy Beard about maximizing the efficacy of today’s tuition programs. How much you cap your programs is one aspect: how you design them is another.
Education assistance is by no means the only important factor when it comes to improving quality of hire; but it is indicative of an organization that is focused on development as a key part of its organizational culture. Organizations that maintain this kind of focus do achieve differentiated business results.
When it comes to how organizations create and maintain competitive advantage, these days the conversation often turns to culture. But what does culture require?
This post series explores some of the latest data on the impact of education assistance on organizational brand, business success, and employee engagement.
It’s estimated that today’s college students leave campus with nearly $40,000 in student debt. And it’s affecting more than just their own budgets. “For employers, this is a major concern,” writes EdAssist’s Chris Duchesne in October’s Workspan magazine.
For adult learners, higher education has a different purpose than it had when they were younger, with a focus on new and very specific goals. As a result, it’s simply not possible to adequately assess a school or program based solely on the qualifications important to an 18-year-old incoming freshman.
More than half of today’s working nurses are Boomers nearing retirement; and the Health and Medicine division of the American Academy of Science is recommending that 80% of nurses have baccalaureate degrees by the year 2020.
“Hospitals need to be proactive about identifying qualified employees to fill this staffing gap.”
Until recently, most of the hand-wringing on student loans has focused on how to help people avoid amassing so much debt in the first place. But more and more companies have started asking the question from the other side of the equation: “How can we help people with the student debt they already have?”
No matter what the job, there’s a lot to be said for letting the experts do what they do best. In our work at EdAssist, I hear people say often that they thought running an education assistance program would mean a rubber stamp and a checkbook. Then they tried it out.
The talent landscape is about to make some sharp shifts that will require employers to get creative with how they recruit, retain, and engage their people. Keeping tabs on your education assistance program and strategically and regularly fine-tuning it can help you keep up with five big talent challenges ahead.