Tuition Reimbursement Implementation

Tuition Reimbursement Implementation

Tonja Lavarreda

XCOM/285 Essentials of Managerial Communication

April 27, 2014

Shani Ortiz

Tuition Reimbursement Implementation

Business is about finding the right balance between performance, integrity, and employee retention. Most companies offer benefits, such as medical, dental, vision, short and long-term disability, and EAP programs that assist in dealing with certain life events. According to “Salary.com” (2014), “One of the most and generous benefits a company can offer is tuition reimbursement, a contractual arrangement between employer and employee that outlines specific terms under which the employer may pay for the employee’s continuing education” (Tuition Reimbursement). The implementation of a tuition reimbursement program benefits both the employer and the employee. The employee receives valuable education, which is paid for by the employer, and in turn the employer receives a more knowledgeable and efficient employee (“eHow”, 1999-2014). “In a recent study of 460 companies, 84 percent report they pay for degree programs; 77 percent reimburse the cost of fees and books; and 75 percent pay for courses related to the employee’s job” (Kleiman, 2000, para. 9). With this being said, I am proposing the expansion of the company’s benefits by offering tuition reimbursement to employees working on their bachelor’s degree in business or communication. A budget has already been approved for this specific benefit, the next step is the implementation.

Expanding the employee benefits to include tuition reimbursement will increase levels of professional opportunities, career options, employee retention, and improve earning potential. According to “Money Crashers” (2014), “An intelligent workforce is pretty hard to come by. Employees who take advantage of tuition reimbursement tend to stay with the company longer. In addition to improved employee retention, the employer may have more employees who are easily...