Preview

Tuition Reimbursement

Better Essays
Open Document
Open Document
1171 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Tuition Reimbursement
RUNNING HEAD: Tuition Reimbursement

Tuition Reimbursement
Joshua Newton
DATE
Tuition Reimbursement Most students have issues planning out how to pay off loans or even get money to attend college, majority of people paying for their education need to have loans to help pay for tuition to attend school. But now more than ever, companies offer tuition reimbursement for their employees. Usually companies offer this opportunity to help further the education of their employees to improve and obtain professional capabilities by studying in universities for specialized jobs or career training (California Institute of Technology, 2007). Obviously, employees who need tuition help love this opportunity and companies that offer tuition reimbursement to help their employees. But for some companies offer tuition assistance for employees believe it will be a waste of time and money. In today’s professional environment, an education is a requirement in nearly every career. Many corporations have recognized this and have been proactive in assisting the workforce with accomplishing hiring levels of education. Employers have a vested interest in ensuring their employees have the skills and knowledge required for them to succeed. Additionally, employees are more likely to stay with a company that is willing to help fund their education. If a company does not have a tuition assistance or tuition re-imbursement program in place, should consider the benefits that a program such as this will bring. A higher education will enable employees to be more productive at work and more capable of taking on additional assignments. The increased education will also help them become leaders in the workplace. Having employees with higher levels of education will also improve the company’s professional image with clients. Furthermore, paying for the tuition cost of an internal employee would cost less then hiring a new employee with a degree and providing an individual with



References: California Institute of Technology (2007) Tuition Reimbursement Plan. Retrieved September 20, 2008, from CalTech Web site: http://hr.caltech.edu/education/tuition_reimbursement.htm Hakala, D. (2008). The Pros and Cons of Providing Employee Continuing Education. Retrieved September 18, 2008 from HR World Web site: http://www.hrworld.com/features/employee-continuing-education-081808/ Hanny, M. & Northan, M. (2000, July-August). Low-cost Strategies for Employee Retention. Compensation Benefits Review, 32 (4), 65. Retrieved on September 18, 2008 from http://swtuopproxy.museglobal.com/MuseSessionID=7db1b1b12a9c4bb3afdd7b2e64674e87/MuseHost=cbr.sagepub.com/MusePath/cgi/reprint/32/4/65 Krimsly, S. (1972, December). Criteria for Tuition Reimbursement Not Met. Labor Law Journal, 23(12), 772-773. Retrieved September 18, 2008, from Business Source Alumni Edition database. Sanders, B. (2001, October 19). Tuition reimbursement in a changing landscape. New Hampshire Business Review, 23(22), 1. Retrieved September 18, 2008, from MasterFILE Premier database.

You May Also Find These Documents Helpful

  • Satisfactory Essays

    HR 400 Unit 7 Assignment

    • 669 Words
    • 3 Pages

    Enjoys our benefit for paying for employee’s tuition if they wish to obtain a higher degree…

    • 669 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    These positions include but are not limited to, management, finance, human resources, legal, or corporate operations. Benefits from obtaining degrees and specialized certifications in programs will also increase employee’s salaries. According to an article published in the U.S. News “Research has shown that college graduates earn, on average, about $20,000 a year more than those who finished their educations at high school (Clark, 2008). Completion of specialized certification outlined in the company’s Employee Handbook will result in a 3% annual salary increase. Completion of formalized degree programs outlined in the company’s Employee Handbook will result in a 10% annual salary increase. In addition to the monetary gains that will be available for all employee’s, it is the company’s belief that each individual who takes advantage of this opportunity will reduce the individual’s chances for job replacement and redundancy options, which could result in future layoffs or termination. In addition, each employee can further develop their skills, while experiencing little to no financial impact to their personal life. According to the FRBNY Consumer Credit Panel/Equifax, “the average outstanding student load balance per…

    • 1059 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Here you will find the information you requested in November including information that adding tuition reimbursement for a bachelor’s degree in business and communication benefits the company.…

    • 2559 Words
    • 11 Pages
    Good Essays
  • Better Essays

    Eric Scott, eHow.com, What Are the Benefits of Offering Employee Tuition Reimbursement? Read more: What Are the Benefits of Offering Employee Tuition Reimbursement? | eHow.com http://www.ehow.com/list_5984017_benefits-offering-employee-tuition-reimbursement_.html#ixzz1KCfLNKrx…

    • 1112 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    Human Resource Letter

    • 311 Words
    • 2 Pages

    Learning a new skill is important to the employees and the company. Like many other companies including most of our competitors, we are forced to reduce spending due to current economic status of the financial world as well as the community. We would love to continue to offer tuition reimbursement benefits for all of our employees but at this point we can no longer offer these benefits.…

    • 311 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    We have been noticing a change of power on the American workplace and it is becoming an employee favorable market again and if this trend continues we will see applicants more demanding in pay, benefits and incentives. Furthermore, as the economy continues to get better and better, companies are constantly competing, innovating benefits and incentives to attract or retain talent. Tuition reimbursement is one of those benefits that an employer might offer. How it works; if an employee participates on this benefit, he or she must pay out of pocket for the courses they take and when the course or courses are over, the employee can get back some or all the tuition expenses. Employer sets the amount reimbursed allowed by IRS. In addition there are…

    • 731 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Thinking Ethically Unit 6

    • 781 Words
    • 3 Pages

    Derek Christian has a unique way with hiring, training and developing his employees. Mr. Christian offered for the company to pay for an employee’s training and development for the employee’s desired career if they choose to work for the company for at least two years (Noe, Hollenbeck, Gerhart, & Wright, 2014). This method helped Mr. Christian retain his employees and his customers were both satisfied and loyal (Noe, et al., 2014). There are many reasons why employee development programs are essential and benefit all persons involved.…

    • 781 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Cited: Hartle, Terry. "Reauthorization of the Higher Education Act.." Educational Record 66.4 (1996): 19-21. Web. 12 May 2010. (Hartle 19-21)…

    • 6280 Words
    • 26 Pages
    Powerful Essays
  • Satisfactory Essays

    Sam’s effort is probably misguided. It is not at the very lowest level where SIE probably needs educated people. If the company is growing rapidly, the need for workers, managers, and technically skilled persons should all be increasing. Lower levels of an organization should not be deprived of a proper match between worker and job in order to have more highly educated employees available.…

    • 267 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    TAX CREDITS

    • 2332 Words
    • 10 Pages

    Romano, R, (1979), Segregating Schools: The Foreseeable Consequences of Tuition Tax Credits, Yale Law School Legal Scholarship Repository, HeinOnline, Data retrieved from http://digitalcommons.law.yale.edu/cgi/viewcontent.cgi?article=3015&context=fss_papers on 10 September 2013.…

    • 2332 Words
    • 10 Pages
    Better Essays
  • Better Essays

    The benefit of education to an individual is that it improves their Human capital. Human Capital theory was invented by Economist Theodore Schultz, who “believed human capital was like any other type of capital; it could be invested in through education, training and enhanced benefits that will lead to an improvement in the quality and level of production” (“Investopedia”). Human capital is an individual investment made by a person. Gaining an education makes an individual smarter and more employable; this makes it easier for the individual to find a job. Gaining a basic K-12 education gives you the basic level of education needed for a fruitful job career. But gaining a degree can lead one to become highly employable in the future. Employers like to higher people with degrees because they feel they’re smarter and more capable of…

    • 1270 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    As the requirements for jobs are changing very fast, the importance of employee’s education has increased . When jobs were simple and easy to learn, there was little need of employees to upgrade their skills.…

    • 1258 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    To the employees who participate in ongoing education will feel as if their careers are advancing and they are better able to provide for their families. Vice versa, employees who are not staying ahead of the curve are going to be left behind their value to the firm diminishes. Thus, learning is a lifetime matter.…

    • 1110 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    There is still one solution to help students to pay the education costs, student loan. Student loan is a loan offered to students which is used to pay off education-related expenses, such as college tuition, room and board at the university, or textbooks. Many of these loans are offered to students at a lower interest rate or even no interest. In general, students are not required to pay back these loans until the end of a grace period, which usually begins after they have completed their education. It is contained in UU number 12 year:…

    • 1672 Words
    • 7 Pages
    Better Essays
  • Powerful Essays

    i. To enlist and strengthen employers involvement in the entire educational process of preparing University graduate for employment in industry…

    • 4240 Words
    • 17 Pages
    Powerful Essays