Tuition Reimbursement Research Paper
Adding Tuition Reimbursement
For Bachelor’s Degree in Business and Communication
Prepared for
Mr. John Payne, Administrative Director
LoLa’s Event Planning
Riverside, CA 92501
Prepared by
JHU Consulting
Helen M. Harrington
345 Kahuhipa St.
Kaneohe, HI 96744
JHU Consulting
345 Kahuhipa St.
Kaneohe, HI 96744
December 3, 2013
Mr. John Payne, Administrative Director
LoLa’s Event Planning
Riverside, CA 92501
Dear Mr. Payne:
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.
During extensive research on benefit gains for LoLa’s Event planning, JHU …show more content…
Consulting (JHU) found that many employees would take advantage of this program. JHU concluded that the employees who do use the tuition reimbursement program lead to retention.
LoLa’s Event Planning is already home to many of your employers. To continue thriving as a business and staying competitive in Event Planning, we suggest you open the tuition reimbursement program.
The analysis of this report came from several resources with reports on Employee Scholar programs, Retention Tools, and Benefits of Tuition Reimbursements.
Thank you for allowing JHU to conduct this research. JHU learned what works best for companies that plan to offer reimbursements for small amounts, large amounts, any degree full amounts and specific degrees.
Sincerely,
Helen M. Harrington
Helen M. Harrington
JHU Lead Consulter
i
Table of Contents
Letter of Transmittal……………………………………………………………………..i
Executive Summary………………………………………………………………………iii
Introduction……………………………………………..…………………………………1
Purpose and Scope…………………………….…………………………………..1
Assumptions……………………………………………………………………….1
Methods……………………………………………………………………………1
Limitations………………………………………………………………………...1
Type of Tuition Reimbursement………………………………………………………...1-2
New Professional Opportunities…………………………………………………………..2 Reception Rate………………………………...………………………………...2-3 Improved Ethics and Skills………………………………………………………..3
Career People with Degrees……………………………………………………………….3 Appearance………………………………………………………………………..3 Communication……………………………………………………………………3 Ethics and Pay..…………………………………………………………………3-4 Customer Service………………………………………………………………….4
Earning Potential of People with Degree Already……………………………….……….4 Probationary Period……………………………………………………………….4 Commitment Length………………………………………………………………4 Benefits……………………………………………………………………………4
Benefits to Company………………………………………………………………………5 Skilled Employees………………………………………………………………...5 Retention Rate……………………………………………….…………………….5 Communication and Efficiency……………...………………………………….5-6
Conclusions and Recommendations…………….………………………………………..6
References…………………………………………………………………………………7
ii
Adding Tuition Reimbursement
For Bachelor’s Degree in Business and Communication
Executive Summary
To remain competitive in the Event Planning business, LoLa’s should consider degree applicants, or improve employee skills through the addition of tuition reimbursement.
Event Planning for consumers with money will pay any amount for the event to be perfect. With workers who can guarantee and communicate effective and efficiently will increase Event Planning sales and the number of Events. New Employees or highly trained employees will have a better knowledge of consumer wants, needs and desires.
As far as research shows, employees who are offered this opportunity stick with the company longer. From personal experience as a hiring manager those with degrees tend to work harder, present them professionally, communicate effectively and treat co-workers and customers fairly.
To ensure success in the tuition reimbursement program JHU Consulting recommends:
1. Type of Tuition Reimbursement.
Full tuition Reimbursement for Bachelor’s Degree in Business and Communication, including books.
Up to 5,250 a year
2. Evaluate New Professional Opportunities.
Retention Rate – length of employment with …show more content…
company
How Payoff Would Work
Improvements – better customer service
3. People with Career Degrees.
Appearance – neat attire, groomed professional, lack of tattoos
Customer Service – Customers wants and needs are more important than employees wants and needs
4. Earning Potential of with Degrees.
Probationary Period – Employee must reach satisfactory points with their contribution to the company
Commitment Length – In order for the company to pay off school loans, employee must work at least 5 years for the company
5. Company Benefits.
Skilled Employees – Foresee issues that may arise, handle negative information properly
Retention Rate – Length of employment because of gratitude
Communication and Efficiency – Less mistakes made by employees
Increased Business and New Company Cash Flow – New skills and understand of ethics
iii
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 1
Introduction
To stay competitive in the Event Planning Market, LoLa’s Event Planning asked JHU Consulting to explore the benefits of providing tuition reimbursement for Bachelor’s Degree in Business and Communication.
Purpose and Scope
LoLa’s Event planning has the potential to double their business with skilled employees. With better communication skills, professional ethics and better reviews this goal is attainable.
This report will cover types of tuition reimbursements, career people with degrees, earning the potential of people with degrees already and the benefits to the company.
Assumptions
JHU Consulting’s recommendation is based on the quality of workers. We assume that having a tuition reimbursement program will motivate workers to be better, work harder and lead to a greater retention rate. We also assume that potential for the business can be earned through career people with a business and communication degree already.
Methods
The information in this report came from three scholarly researched resources from the University Library. Information was also gathered from interviews with Jeff Nash a non-profit organization director and Vit Udom, a restaurant business owner.
Limitations
The research was limited to materials via the University Library, Internet and Interviews. JHU Consulting would have greatly benefited by speaking with a company that offers a tuition reimbursement program.
Type of Tuition Reimbursement
The type of tuition reimbursement that JHU Consulting suggest LoLa’s Event Planning should offer is a fully covered education for a Bachelor’s Degree in Business and Communication which would include books, fees, course materials and
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 2
tuition - as long as an 85 and up average is maintained. A full ride Employee Scholar Program will gain a retention rate, because of the gratitude one has for the company investing in their education (Jeff V. Nash, personal communication, December 3, 2013). Also according to Cassidy (2004)
We (United Technology Corporation (UTC)) pay all costs for tuition, fees, books, and course materials, for all full- or part time UTC employees, anywhere in the world. We give them paid time off equal to more than three weeks annually. We don 't limit course selections in any way. And when an employee receives a degree, we grant him or her UTC common stock worth $10,000.
Today, nearly 15 percent of our domestic workforce is enrolled in college and university coursework, more than half seeking advanced degrees. Our participation rates are three times the national average for companies with similar programs. And, participants ' retention rate is double that of all employees.
The program offered does not have to be one of the best like (UTC) offers, however, when a worker is granted the opportunity to have all expenses taken care of, they are more willing to give back. JHU Consulting advises LoLa’s Event Planning to only cover a degree pertaining to Business and Communication so their Employee Scholar Program is not abused.
JHU also suggest an allowance of “$5,250, the maximum amount the Internal Revenue Service allows employees to receive without claiming it as an income” (O 'Reilly, 2001, para.3) as a tactic to have employees in the program. With an allowance that minimal, employees will only be able to take so many classes a year, which will still allow the employee to work full-time without a fully booked schedule. This means less days of calling out sick, or skipping a class because they are too worn out. Another benefit with taking only so many classes a year is the longer they are in school, the longer they are employed with you.
New Professional Opportunities
New professional opportunities can bring creative and new ideas to a business. A person with a degree worked hard to get where they are and want to use the skills they learned. Everyone likes to see hard work paid off. In order to bring a new professional employee into your company, you have to be able to offer them something. With a degree, they are going to find what is best for them, and not take the first job offered (Vit Udom, personal communication, December 5, 2013).
Retention Rate
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 3
JHU Consulting wants to point out that a new professional that is offered great benefits and the ability to move up in a company is motivating. The employee recently completed many classes, and after each class they moved onto the next one. According to the manager at Motorola he states “tuition reimbursement is an excellent retention tool. I feel that Motorola cares about me” (Kleiman, 2000).
Improved Ethics and Skills
Most business professionals carry themselves differently than a non-business professional. Their ethics are pure, and skills are tactful. A professional cares about their name and reputation. Majority of the time they to do want to ruin their reputation, so each year they can progress with their professional title. They use their skills to benefit the company. They also use their skills to gain business and get promoted.
Career People with Degrees
From the experience of hiring people, those of whom apply with appropriate attire, groomed face, presentable clothing, respect and courtesy usually have a degree or an extensive amount of experience in one or two fields.
Appearance
A professional is going to hand in an application dressed professionally, and not on their time off in a swimsuit. Hair is keep clean, washed and tamed. If a person has curls correct amount of products need to be applied for neatness, and if straight hair should look brushed and untangled. Facial hair is kept minimal, as that is still ideal. In hot places a professional usually caries perfume or cologne to help cover the smell of sweat.
Communication
A professional will communicate efficiently and effectively. They will not have a problem looking the employer in the eye. A professional will make sure to discard gum before speaking to avoid a nervous, quite disrespectful chew.
Ethics and Pay
As stated earlier professionals want a clean background. They want their name to be kept in only positive news. Whomever a professional works for, they are going to do their best to keep a good reference for him or herself. Their pay would be based on their ethics and skills. If their ethics are bad, and employer is not going to
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 4
pay them more nor promote them. Pay is a huge drive when obtaining a degree; so most professionals want to see their degree benefit them.
Customer Service
A professional’s intention with customer service is pure. From restaurant managers stand point; it is obvious which employee’s care about customer service and which employees care about the tip. Very few are in the business to provide an experience so delightful. Those who are reap the benefits in the end. “Pleasing a customer is more important than the amount of money you make when they pay the bill. This is because the customer will join us again, which benefits the company, which allows you to stay, employed. With less customers, we need less employees, and if we need to make a cut, it would be clear who we keep and who we do not keep” (Vit Udom, personal communication, December 5, 2013).
Earning Potential of People with Degree Already
In order to earn the potential of people with a degree already, something needs to be offered. They need to feel their hard work at school is going to be paid off by the job they take.
Probationary Period
A probationary period would be for a new employee that plans to have his or her degree paid off by LoLa’s Event planning. The probationary period would track the new employees sales and make sure he or she meets many satisfactory points. Their contribution and employment with the company will need to benefit the company, in order for them to receive the company’s benefit.
Commitment Length
JHU Consulting suggest that LoLa’s Event Planning offer a full tuition payoff/ loan payoff up to 25,000 for employees who maintained a B average or higher throughout their education. The stipulations that would go along with a new employees education pay off is that they have to commit to a 5 year contract with LoLa’s Event Planning.
Benefits
The new employee would benefit by school being paid off and job security. Unemployment rates are high as of right now, and job security is a big factor. The new employee would also benefit by gaining a good reputation and the possibility of moving up.
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 5
Benefits to LoLa’s Event Planning
As stated and referenced earlier, UTC pointed out their retention rate.
With skilled and motivated employees, these are their statistics:
No single factor has changed UTC over the last decade more than productivity has. Today, Otis produces twice as many new elevators, and Carrier 2.5 times as many air conditioners, as in 1990 with a workforce just 20 percent larger. We rely on lean manufacturing methods, pioneered by the Japanese, to boost productivity, keep our company competitive, and preserve our ability to employ people. We also concentrate on the highest value-added activities and let the lower knowledge and lower wage work go elsewhere. To sustain this, we require the most educated workforce on the planet (Cassidy, 2004, Para. 2).
Skilled Employees
Skilled employees produce more as mentioned above, which greatly benefits a company. They know how and they get the job done. With a skilled employee, you do not need to watch over them, or teach for years, they are able to assess situations on their own based on common sense and knowledge. This means the company saves great amount of money. UTC has one person who can do a four-persons job because they are
qualified.
Retention Rate
This has been significant point throughout this formal report. It benefits the company by having new professional employees commit to a contract and current employees balance school and work. According to O’Reilly (2001) “Alltel get three benefits out of this program, (educational assistance up to $2,000 for job related courses) First, staff development. Second, an educated, motivated workforce because we retain and develop folks. Third, sometimes we use it for recruiting” (Para. 15).
Communication and Efficiency
Those with a degree tend to communicate on a more professional level. Rather than talking slang, they uphold themselves to a higher standard. With emails, memo, formal letters, etc. they are addressed properly and explained properly that way a co-worker, customer or employer does not need to seek clarity. This leads to efficiency in the fact that the employee does what they need to correctly the first
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 6
time. They do not need to keep emailing back and forth and using valuable time because the keep forgetting to inform the same person with another piece of information.
Conclusions and Recommendations
1. JHU Consulting recommends that LoLa’s Event Planning is ready to offer tuition reimbursement and add new competitive employees to your work force. This is possible through the reimbursement for degree employees with a five-year contract, and current employees with an allowance of $5,250 a year.
2. JHU consulting recommends comparing sales after one year of program being in use. Make sure new employees are benefitting the company and current employees are contributing more.
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 7
References
Cassidy, J. F. (2004, Summer). Tuition Reimbursement and More. Connection, New
England 's Journal of Higher Education, 19(1), 21.
Kleiman, C. (2000, September 3). Many Benefits of Tuition Reimbursement. The
Record.
O 'Reilly, B. (2001, August). Tuition Reimbursement a Recruiting, Retention Tool.
Arkansas Business, 18(33), 22.
For Bachelor’s Degree in Business and Communication
Prepared for
Mr. John Payne, Administrative Director
LoLa’s Event Planning
Riverside, CA 92501
Prepared by
JHU Consulting
Helen M. Harrington
345 Kahuhipa St.
Kaneohe, HI 96744
JHU Consulting
345 Kahuhipa St.
Kaneohe, HI 96744
December 3, 2013
Mr. John Payne, Administrative Director
LoLa’s Event Planning
Riverside, CA 92501
Dear Mr. Payne:
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.
During extensive research on benefit gains for LoLa’s Event planning, JHU …show more content…
Consulting (JHU) found that many employees would take advantage of this program. JHU concluded that the employees who do use the tuition reimbursement program lead to retention.
LoLa’s Event Planning is already home to many of your employers. To continue thriving as a business and staying competitive in Event Planning, we suggest you open the tuition reimbursement program.
The analysis of this report came from several resources with reports on Employee Scholar programs, Retention Tools, and Benefits of Tuition Reimbursements.
Thank you for allowing JHU to conduct this research. JHU learned what works best for companies that plan to offer reimbursements for small amounts, large amounts, any degree full amounts and specific degrees.
Sincerely,
Helen M. Harrington
Helen M. Harrington
JHU Lead Consulter
i
Table of Contents
Letter of Transmittal……………………………………………………………………..i
Executive Summary………………………………………………………………………iii
Introduction……………………………………………..…………………………………1
Purpose and Scope…………………………….…………………………………..1
Assumptions……………………………………………………………………….1
Methods……………………………………………………………………………1
Limitations………………………………………………………………………...1
Type of Tuition Reimbursement………………………………………………………...1-2
New Professional Opportunities…………………………………………………………..2 Reception Rate………………………………...………………………………...2-3 Improved Ethics and Skills………………………………………………………..3
Career People with Degrees……………………………………………………………….3 Appearance………………………………………………………………………..3 Communication……………………………………………………………………3 Ethics and Pay..…………………………………………………………………3-4 Customer Service………………………………………………………………….4
Earning Potential of People with Degree Already……………………………….……….4 Probationary Period……………………………………………………………….4 Commitment Length………………………………………………………………4 Benefits……………………………………………………………………………4
Benefits to Company………………………………………………………………………5 Skilled Employees………………………………………………………………...5 Retention Rate……………………………………………….…………………….5 Communication and Efficiency……………...………………………………….5-6
Conclusions and Recommendations…………….………………………………………..6
References…………………………………………………………………………………7
ii
Adding Tuition Reimbursement
For Bachelor’s Degree in Business and Communication
Executive Summary
To remain competitive in the Event Planning business, LoLa’s should consider degree applicants, or improve employee skills through the addition of tuition reimbursement.
Event Planning for consumers with money will pay any amount for the event to be perfect. With workers who can guarantee and communicate effective and efficiently will increase Event Planning sales and the number of Events. New Employees or highly trained employees will have a better knowledge of consumer wants, needs and desires.
As far as research shows, employees who are offered this opportunity stick with the company longer. From personal experience as a hiring manager those with degrees tend to work harder, present them professionally, communicate effectively and treat co-workers and customers fairly.
To ensure success in the tuition reimbursement program JHU Consulting recommends:
1. Type of Tuition Reimbursement.
Full tuition Reimbursement for Bachelor’s Degree in Business and Communication, including books.
Up to 5,250 a year
2. Evaluate New Professional Opportunities.
Retention Rate – length of employment with …show more content…
company
How Payoff Would Work
Improvements – better customer service
3. People with Career Degrees.
Appearance – neat attire, groomed professional, lack of tattoos
Customer Service – Customers wants and needs are more important than employees wants and needs
4. Earning Potential of with Degrees.
Probationary Period – Employee must reach satisfactory points with their contribution to the company
Commitment Length – In order for the company to pay off school loans, employee must work at least 5 years for the company
5. Company Benefits.
Skilled Employees – Foresee issues that may arise, handle negative information properly
Retention Rate – Length of employment because of gratitude
Communication and Efficiency – Less mistakes made by employees
Increased Business and New Company Cash Flow – New skills and understand of ethics
iii
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 1
Introduction
To stay competitive in the Event Planning Market, LoLa’s Event Planning asked JHU Consulting to explore the benefits of providing tuition reimbursement for Bachelor’s Degree in Business and Communication.
Purpose and Scope
LoLa’s Event planning has the potential to double their business with skilled employees. With better communication skills, professional ethics and better reviews this goal is attainable.
This report will cover types of tuition reimbursements, career people with degrees, earning the potential of people with degrees already and the benefits to the company.
Assumptions
JHU Consulting’s recommendation is based on the quality of workers. We assume that having a tuition reimbursement program will motivate workers to be better, work harder and lead to a greater retention rate. We also assume that potential for the business can be earned through career people with a business and communication degree already.
Methods
The information in this report came from three scholarly researched resources from the University Library. Information was also gathered from interviews with Jeff Nash a non-profit organization director and Vit Udom, a restaurant business owner.
Limitations
The research was limited to materials via the University Library, Internet and Interviews. JHU Consulting would have greatly benefited by speaking with a company that offers a tuition reimbursement program.
Type of Tuition Reimbursement
The type of tuition reimbursement that JHU Consulting suggest LoLa’s Event Planning should offer is a fully covered education for a Bachelor’s Degree in Business and Communication which would include books, fees, course materials and
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 2
tuition - as long as an 85 and up average is maintained. A full ride Employee Scholar Program will gain a retention rate, because of the gratitude one has for the company investing in their education (Jeff V. Nash, personal communication, December 3, 2013). Also according to Cassidy (2004)
We (United Technology Corporation (UTC)) pay all costs for tuition, fees, books, and course materials, for all full- or part time UTC employees, anywhere in the world. We give them paid time off equal to more than three weeks annually. We don 't limit course selections in any way. And when an employee receives a degree, we grant him or her UTC common stock worth $10,000.
Today, nearly 15 percent of our domestic workforce is enrolled in college and university coursework, more than half seeking advanced degrees. Our participation rates are three times the national average for companies with similar programs. And, participants ' retention rate is double that of all employees.
The program offered does not have to be one of the best like (UTC) offers, however, when a worker is granted the opportunity to have all expenses taken care of, they are more willing to give back. JHU Consulting advises LoLa’s Event Planning to only cover a degree pertaining to Business and Communication so their Employee Scholar Program is not abused.
JHU also suggest an allowance of “$5,250, the maximum amount the Internal Revenue Service allows employees to receive without claiming it as an income” (O 'Reilly, 2001, para.3) as a tactic to have employees in the program. With an allowance that minimal, employees will only be able to take so many classes a year, which will still allow the employee to work full-time without a fully booked schedule. This means less days of calling out sick, or skipping a class because they are too worn out. Another benefit with taking only so many classes a year is the longer they are in school, the longer they are employed with you.
New Professional Opportunities
New professional opportunities can bring creative and new ideas to a business. A person with a degree worked hard to get where they are and want to use the skills they learned. Everyone likes to see hard work paid off. In order to bring a new professional employee into your company, you have to be able to offer them something. With a degree, they are going to find what is best for them, and not take the first job offered (Vit Udom, personal communication, December 5, 2013).
Retention Rate
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 3
JHU Consulting wants to point out that a new professional that is offered great benefits and the ability to move up in a company is motivating. The employee recently completed many classes, and after each class they moved onto the next one. According to the manager at Motorola he states “tuition reimbursement is an excellent retention tool. I feel that Motorola cares about me” (Kleiman, 2000).
Improved Ethics and Skills
Most business professionals carry themselves differently than a non-business professional. Their ethics are pure, and skills are tactful. A professional cares about their name and reputation. Majority of the time they to do want to ruin their reputation, so each year they can progress with their professional title. They use their skills to benefit the company. They also use their skills to gain business and get promoted.
Career People with Degrees
From the experience of hiring people, those of whom apply with appropriate attire, groomed face, presentable clothing, respect and courtesy usually have a degree or an extensive amount of experience in one or two fields.
Appearance
A professional is going to hand in an application dressed professionally, and not on their time off in a swimsuit. Hair is keep clean, washed and tamed. If a person has curls correct amount of products need to be applied for neatness, and if straight hair should look brushed and untangled. Facial hair is kept minimal, as that is still ideal. In hot places a professional usually caries perfume or cologne to help cover the smell of sweat.
Communication
A professional will communicate efficiently and effectively. They will not have a problem looking the employer in the eye. A professional will make sure to discard gum before speaking to avoid a nervous, quite disrespectful chew.
Ethics and Pay
As stated earlier professionals want a clean background. They want their name to be kept in only positive news. Whomever a professional works for, they are going to do their best to keep a good reference for him or herself. Their pay would be based on their ethics and skills. If their ethics are bad, and employer is not going to
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 4
pay them more nor promote them. Pay is a huge drive when obtaining a degree; so most professionals want to see their degree benefit them.
Customer Service
A professional’s intention with customer service is pure. From restaurant managers stand point; it is obvious which employee’s care about customer service and which employees care about the tip. Very few are in the business to provide an experience so delightful. Those who are reap the benefits in the end. “Pleasing a customer is more important than the amount of money you make when they pay the bill. This is because the customer will join us again, which benefits the company, which allows you to stay, employed. With less customers, we need less employees, and if we need to make a cut, it would be clear who we keep and who we do not keep” (Vit Udom, personal communication, December 5, 2013).
Earning Potential of People with Degree Already
In order to earn the potential of people with a degree already, something needs to be offered. They need to feel their hard work at school is going to be paid off by the job they take.
Probationary Period
A probationary period would be for a new employee that plans to have his or her degree paid off by LoLa’s Event planning. The probationary period would track the new employees sales and make sure he or she meets many satisfactory points. Their contribution and employment with the company will need to benefit the company, in order for them to receive the company’s benefit.
Commitment Length
JHU Consulting suggest that LoLa’s Event Planning offer a full tuition payoff/ loan payoff up to 25,000 for employees who maintained a B average or higher throughout their education. The stipulations that would go along with a new employees education pay off is that they have to commit to a 5 year contract with LoLa’s Event Planning.
Benefits
The new employee would benefit by school being paid off and job security. Unemployment rates are high as of right now, and job security is a big factor. The new employee would also benefit by gaining a good reputation and the possibility of moving up.
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 5
Benefits to LoLa’s Event Planning
As stated and referenced earlier, UTC pointed out their retention rate.
With skilled and motivated employees, these are their statistics:
No single factor has changed UTC over the last decade more than productivity has. Today, Otis produces twice as many new elevators, and Carrier 2.5 times as many air conditioners, as in 1990 with a workforce just 20 percent larger. We rely on lean manufacturing methods, pioneered by the Japanese, to boost productivity, keep our company competitive, and preserve our ability to employ people. We also concentrate on the highest value-added activities and let the lower knowledge and lower wage work go elsewhere. To sustain this, we require the most educated workforce on the planet (Cassidy, 2004, Para. 2).
Skilled Employees
Skilled employees produce more as mentioned above, which greatly benefits a company. They know how and they get the job done. With a skilled employee, you do not need to watch over them, or teach for years, they are able to assess situations on their own based on common sense and knowledge. This means the company saves great amount of money. UTC has one person who can do a four-persons job because they are
qualified.
Retention Rate
This has been significant point throughout this formal report. It benefits the company by having new professional employees commit to a contract and current employees balance school and work. According to O’Reilly (2001) “Alltel get three benefits out of this program, (educational assistance up to $2,000 for job related courses) First, staff development. Second, an educated, motivated workforce because we retain and develop folks. Third, sometimes we use it for recruiting” (Para. 15).
Communication and Efficiency
Those with a degree tend to communicate on a more professional level. Rather than talking slang, they uphold themselves to a higher standard. With emails, memo, formal letters, etc. they are addressed properly and explained properly that way a co-worker, customer or employer does not need to seek clarity. This leads to efficiency in the fact that the employee does what they need to correctly the first
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 6
time. They do not need to keep emailing back and forth and using valuable time because the keep forgetting to inform the same person with another piece of information.
Conclusions and Recommendations
1. JHU Consulting recommends that LoLa’s Event Planning is ready to offer tuition reimbursement and add new competitive employees to your work force. This is possible through the reimbursement for degree employees with a five-year contract, and current employees with an allowance of $5,250 a year.
2. JHU consulting recommends comparing sales after one year of program being in use. Make sure new employees are benefitting the company and current employees are contributing more.
Adding Tuition Reimbursement: For Bachelors Degree in Business and Communication 7
References
Cassidy, J. F. (2004, Summer). Tuition Reimbursement and More. Connection, New
England 's Journal of Higher Education, 19(1), 21.
Kleiman, C. (2000, September 3). Many Benefits of Tuition Reimbursement. The
Record.
O 'Reilly, B. (2001, August). Tuition Reimbursement a Recruiting, Retention Tool.
Arkansas Business, 18(33), 22.