Tuition_Reimbursement

Running Head: TUITION REIMBURSEMENT Tuition Reimbursement March 15, 2010 “Education is a key factor in fueling economic growth, but the educational attainment of our workers is slipping badly” (Bosworth 2008). Since the advancement of technology, education becomes increasingly valuable as well as its utilization in various aspects on the job. Many organizations acknowledge that employees are the most beneficial assets, undoubtedly, because of the dedication and commitment they maintain; however, a program created to assist in the endeavors of an educational stature will create countless invaluable employees, also awards organizations with a competitive advantage with attracting potential employees. By enabling employees to continue their education, they are more likely to improve their work rate and in doing so, increases economic growth. “The increase in educational attainment of the labor force made a substantial contribution to economic growth and rising productivity as much as 20 to 25% of overall labor productivity growth, according to some estimates” (Bosworth, 2008). Companies often disregard educational instruction to their employees in efforts to lower expenses, when in fact the skill, knowledge and abilities would decrease the amount the company would have to pay for in unemployment wages due to incompetency, thus leading to employees being relinquished from their positions. Unemployment rates are less prominent with those who have a higher educational degree. According to a study in 2006, Out of 120 million adults between ages of 25-64, only 51 million or 42% obtained an associate’s degree or higher, and out of 21 million, only one-third reported having some college but obtained no degree, but they managed to achieve an industry level certificate (Bosworth, 2008). Also, instituting an education plan assists companies with developing strategies to promote success and advancement amongst employees. A tuition reimbursement program enables present employees the ability to continue their education and at the same they receive opportunity to grow within the company. However, specific protocols and limitations are required before taking advantage of the opportunity. In addition, certain rules and regulations must be met before employees receive the assistance. Noticeably, the question arises as to whether the reimbursement of tuition is fundamental or if the expenditure overpowers the benefits. Certainly, the company should comprehend the need of tuition and adult learning for employees and understand that lack of reimbursement, as well as, sufficient opportunities for training, the possibility of increasing the educational and professional level will be near impossible. Furthermore, as education and tuition continue to rise in cost, employees are experiencing difficulties with advancing their scholarly knowledge. There are multiple justifications as to why. First, the expense is too much of a burden for employees, especially large family households. Second, companies do not enable enough time for employees to attend classes. Lastly, employees are not encouraged reasonably to devote monetary funds without some sort of inspiration or positive reinforcement from his or her company, such as, the sheer possibility of advancement within the company. In light of this reasoning, the practicality of advancing education becomes void if companies fail to reimburse tuition. “Employers should strive to increase organizational commitment of employees. One suggested method is employer educational assistance” (Guffey, West & White, 1997). The organizational commitment alone should be the motivation the company needs to put this theory into effect. Considering that most successful companies strive on organizational commitment, the idea of assisting employees with education would create positive relations between employer and employee. In final consideration, investing in employee education by supporting with monetary funding and allowing sufficient time to be able to accomplish the task, companies will display positive reinforcement to their employees. In addition, employees will feel more committed to the company. Employees will be valuable assets to the organization and in turn, they can share their knowledge and train future incoming workers, which will in turn decrease company costs in other aspects as far as training is concerned. My recommendation for the tuition program is to review the budget to the reasonableness in creating this program. Also, schedule sufficient time for employees to attend and finish the courses and institute consequences for withdrawals from classes early, or leaving the company within a certain span of time after completing educational courses. I believe this will deter many employees from taking advantage of the benefit and pursuing employment with competitors’. References Bosworth, B.. (2008). The Crisis in Adult Education. Issues in Science and Technology, 24(4), 73-80.  Retrieved March 8, 2010, from Research Library. (Document ID: 1592612051). (Bosworth 2008). Guffey, C. J., West, J. F., & White, C. S. (1997).  Employer educational assistance: An assessment of the impact on organizational commitment. Management Research News, 20(1), 12-30.  Retrieved March 8, 2010, from ABI/INFORM Global. (Document ID: 293757891).  (Guffey, West, & White, 1997,  ) Harris, T. Investing in employees through tuition reimbursement. Corrections today 71.2 (2009): 50+. General OneFile. Retrieved March 9, 2010 from Research Library (Document ID. A202715201) (Harris, 2009)