St. Petersburg, Fla. — Feb. 21
The majority of recently polled companies (94.1 percent) offer a tuition-assistance program to their employees, and they generally cover associated fees such as books, labs, tests and administrative costs.
In addition, roughly half (54.5 percent) do not require tuition fees to be refunded if an employee leaves after completing a course.
The Institute for Corporate Productivity (i4cp, formerly HRI), in conjunction with HR.com, conducted the Tuition Assistance Practitioner Consensus Survey in February 2007. A total of 155 organizations participated.
“These results really show us the value that organizations place in ongoing education,” said Jay Jamrog, i4cp senior vice president of research. “Continuing education serves to increase employee engagement, reduce management costs in time and money and can improve employee loyalty, all of which are key issues when it comes to staying competitive in the ever-changing global business environment.”
When it comes to how long an employee has to be on the job in order to be eligible for tuition assistance, the responding organizations are almost evenly split into three categories.
About one-third says tuition assistance eligibility starts upon hire, another third says before the end of the first year and the final third sas at the end of the first year of employment.