Over 90% Of Organizations Today Offer Employees Tuition Assistance
ST. PETERSBURG, FL (February 20, 2007) – The vast majority of recently polled companies (94.1%) 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%) 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. 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,” says Jay Jamrog, Senior Vice President, Research at i4cp.
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; with about one-third saying that tuition assistance eligibility starts upon hire, another third prior to the end of the first year, and a third at the end of the first year of employment.
For more information about this study, or to receive a full copy of the results, please contact Greg Pernula at (727) 345-2226.
About i4cp, inc.
The Institute for Corporate Productivity (i4cp, inc.) improves corporate productivity through a combination of research, community, tools and technology focused on the management of human capital. With more than 100 leading organizations as members, including many of the best-known companies in the world, i4cp draws upon one of the industry’s largest and most experienced research teams and executives-in-residence to produce more than 10,000 pages annually of rapid, reliable and respected research and analysis surrounding all facets of the management of people in organizations. Additionally, i4cp identifies and analyzes the upcoming major issues and future trends that are expected to influence workforce productivity and provides member clients with tools and technology to execute leading-edge strategies and “next practices” on these issues and trends. i4cp is a for-profit company with offices in St. Petersburg, FL.