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Xcomm/285 Week 7 Assignment

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Submitted By mholz1128
Words 1153
Pages 5
Week 7 Assignment
Mark Holzhauser
XCOMM/285
10/16/2011
Heather Parker

What is Tuition Reimbursement? Simply put, Tuition Reimbursement is a program many companies offer to their employees in which the company reimburses some or all of the tuition fees their employees spend on education. Tuition Reimbursement is a classic win-win scenario. The company gets a better trained, more educated, and often more loyal employee, while the employee receives a subsidized education that may achieve a personal goal and without doubt makes them more marketable in the workforce. Some programs offer reimbursement for books, other expenses, and even a bonus once the employee receives his or her degree.
Should we offer tuition reimbursement to our employees? The answer is simple. Yes, we should offer tuition reimbursement to our employees. Starting a tuition reimbursement program is a good idea for both the employee and employer. By helping our employees better themselves we are also helping our company by having more educated employees. We are also creating a more loyal employee. They are less likely to leave the company when they are in a tuition reimbursement program and are more loyal to the company afterwards. We also could attract the best available prospective employees with such a benefit. There is a lot of competition out there vying for the best young employees and we certainly would like to remain competitive in our recruitment efforts. Some examples of companies that offer tuition reimbursement are as follows:
J.M. Smucker Co. offers 100% tuition reimbursement with no limit.
Google offers tuition reimbursement of up to $12,000 per calendar year as long as you receive a “B” or better.
Bank of America offers tuition reimbursement of up to $2,000 per year for undergraduates and $4,000 per year for graduate students.
Experian offers tuition

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Week 7 Xcomm Assignment

...William Geibel Week 7 assignment XCOMM/285 Tuition reimbursements can be extremely beneficial to our company because it will persuade some of our employees to continue their education and earn bachelor’s degrees in business and communication which will help our company in the long term. The more people who we can get to earn their degree will give us a wider range of people to work with and ideas to choose from. Having more people who can specialize in business and communication can also make it easier for us to be able to expand or company because we will have the people that we need to fill in the empty positions that will be created. We can also use tuition reimbursements to lure in potential employees. People could look at it as a way that they can earn a free education while they work. Improves Employee Skills If employees are able to further their education they will become more skilled. As a result, they will provide more value to the company. The knowledge and skills that employees gain from their education can translate to higher productivity and possibly more revenue and profits for the company. Employee Retention Offering a tuition reimbursement program will help a company retain good employees. Employees who have a goal to further their education will be inclined to stay with the company if it pays for their tuition. Also, many companies make it a requirement that employees stay with the company for a certain period of time after their education in...

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