Tuition reimbursement can assist in recruiting prospective employees and can also assist in retaining current employees while encouraging them to pursue additional degrees and/or credentials.
For larger organizations, a return on investment can be calculated based on the money spent on tuition reimbursement compared to the costs of training and orienting a new employee. Tuition reimbursement can range from helping an employee attain a degree to paying for a staffer’s continuing education, training or re-certification courses.
For smaller organizations that may not be able to provide tuition reimbursement, employees could still receive paid time off or even a flexible schedule to accommodate classes. Depending on an employee’s area of study, an organization could accommodate the employee to complete practicum hours and/or an internship requirements.