Tuitition

The Value of Tuition Reimbursement Sean Ross Murphy COM/105 May 5, 2010 Jennifer Henderson The Value of Tuition Reimbursement Tuition Reimbursement is a valuable asset, which if your company offers one should take full advantage of. Tuition reimbursement is the process in which the employer pays for part of an employee’s tuition. The employee must initially pay for or must agree to be responsible for the tuition. Not only does tuition reimbursement benefit the employee but also the employer. The employer gains an employee that has a college degree, but also gains knowledge and skills not previously possessed by the employee. Tuition Reimbursement varies from company to company. One employer may pay for all of the tuition and books for an employee, while another employer may pay only half or a fixed amount of the tuition. Another way is a performance based system. Whereas the grades of student reflect the amount of reimbursement. An example of the system is for an “A” in the course 100% of the tuition is reimbursed, while a “B” is only awarded 95% reimbursement, and a “C” is awarded with 90% assistance. A “D” or below is awarded with no reimbursement (Shoemaker, 2006). On the personal level, the employee gains a college education. The sense of accomplishment that comes with attaining a degree gives the person a little more respect for themselves. Also, the employee becomes more valuable to the company, by becoming a better trained employee and gaining job specific training at a college level. Another benefit of tuition reimbursement is that the employee becomes more valuable in the job market. The bachelor degree opens a door way to not only jobs in your field, but some jobs only require that you a bachelor degree for consideration for employment. So if you wanted to switch fields at some point in your career then you would be able to have a few more choices. The employer also benefits, the employer can know that the employee is going to be a better trained and further motivated employee by gaining a degree. The employer can also feel good, because the employer knows that they have helped someone go to school and further their education, when in some circumstances would be not possible. Also studies have shown that the turnover rate is lower in companies that offer tuition reimbursement versus companies that do not offer the option. Productivity is also a benefit with studies also showing productivity increases in companies that offer tuition reimbursement versus companies that do not. The productivity of a company is important to both the employer and employee. Companies also must take every advantage available to stay competitive in the work force. Offering tuition reimbursement gives the employer an attractive option to offer job applicants. The employee also needs to consider this as a motive to offer tuition reimbursement, the technology revolution is upon us all, and the world is a rapid evolving infra-structure. Companies must keep their employees trained and up to date with today’s technology to stay ahead and on par with the rest of the companies in their job fields. The government also gives employers incentives to offer tuition reimbursement by offering tax break and credits. Companies look to save a dollar or two just like their employees and tax credits and breaks are a great way to do that. The financial relief that the program offers is amazing. College is expensive these days and student can use all the help they can get when it comes to paying for college. The options for students to get college tuition assistance other than tuition reimbursement are few in number. The options are federal student loans, private student loans, grants, and scholarships. The cost continues to rise, colleges are now charging almost 10,000 dollars a year and just a few years ago it would have cost have of that. Also, helps the employee make more money. Salary increases sometimes double or more when a student obtains a bachelor degree. Tuition Reimbursement give the working adult a sigh of relief as well with knowing that the college is paid for giving the employee more time to focus on their school work by not making the student worry about how they are going pay for school. This will ultimately lead to better grades on assignments, which will lead to a better Grade Point Average (GPA). A benefit of a good GPA is that the student has the possibility of graduating with honors, which intern gives them another plus for employers. Tuition Reimbursement also gives employees the motivation to do well, as in most cases, the student must maintain a “C” average for the course to qualify for program. That also guarantees that the employer will gain an employee that cares about his education. It creates a trust between the employee and employer. The employer also can make more money by have better trained employees to do a more proficient and productive job saving the company money, therefore making the company money. This also makes the employee a happier person knowing that they are achieving. Sending someone to college and training for four years is cheaper than training an employee in several subjects on the job, therefore reducing productivity and money made by the company. The employer also does not have train new employees to do the same job a college educated employee may already know how to do. Most employers tend to promote from within, so gaining a bachelor degree will give the employees a leg up in the competition for that big promotion everyone dreams of. No one wants to be stuck in middle management for the rest of their lives. Employers are taking notice; it not only benefits the employee. The benefits of the tuition reimbursement out way any of the down sides the program may have. The program offers personal wellbeing, financial relief, and a competitive edge. The employer gains a better trained employee, saves money in several areas, and has a better productive work force. There are no reasons an employer should not offer tuition reimbursement. More importantly there is no reason for the employee not to take advantage of the program. Grading Criteria for Persuasive Essay Content4 Points | Points Earned 3.75/4 | Additional Comments: | All key elements of the assignment are covered in a substantive way. * Paper is the required number of words in length. * The paper is a persuasive essay. * Paper is written in third-person point of view or limited first-person narration. | | Paper meets the length requirement at 1050 wordsPaper is written in a correct and consistent Point of View, but you should watch the use of personal pronouns.Paper conveys information clearly and convincingly, using the strategies discussed in class for formulating a persuasive paper.Paper makes points and then backs them up with adequate supporting information. | Content is comprehensive, accurate, and/or persuasive | | | Paper links topic to relevant examples of current experience and industry practice and uses the vocabulary of the topic correctly. | | | * Major points are stated clearly and are supported by specific details, examples, or analysis. | | | Organization / Development3 Points | Points Earned3/3 | Additional Comments: | Paper has a structure that is clear, logical, and easy to follow. | | Paper has a clear and logical organization.Great introduction and conclusion!I see many good transition words! | Paper develops a central theme or idea, directed toward the appropriate audience. | | | Introduction provides sufficient background on the topic and previews major points. | | | Conclusion is logical, flows from the body of the paper, and reviews the major points. | | | Transitions between sentences, paragraphs, and sections aid in maintaining the flow of thought. | | | Tone is appropriate to the content and assignment. | | | Mechanics 3 Points | Points Earned2.75/3 | Additional Comments: | The paper, including the title page and reference page follows APA guidelines for format. | | APA required guidelines of title page, font, spacing, etc. for this level course have been met.See paper for marked examples of grammar errors – errors were not marked exhaustively – but you should get a feel for what your errors were. | Citations of original works within the body of the paper follow APA guidelines. | | | Paper is laid out with effective use of headings, font styles, and white space. | | | Rules of grammar, usage, and punctuation are followed | | | Sentences are complete, clear, concise, and varied. | | | Spelling is correct. | | | Total 10 Points | Points Earned: 9.50/10 | Additional Comments: | References Shoemaker, J. S. (2006). Companies see value in tuition reimbursement. Northeast Pennsylvania Business Journa. Retrieved from http://http://www.allbusiness.com/human-resources/employee-benefits/4076280-1.html.