Tuition Assistance is not an employee benefit - it is a
strategic business initiative.
Until companies "get this" the focus of Employee Education
departments is on the wrong outcomes - and this can cost companies
thousands, to millions of dollars each year.
Presently, most Employee Education departments are assigned to
track expenses and varify compliance. Thus, they are less
concerned with value returned to the company, controlling costs for
education, aliging with Talent Management strategy, and measuring
success. No one in the company seems to "own" these
responsibilities - but someone needs to!
Just offering a tuition plan, without monitoring and
measurement, does not guarantee that employees are using it
most effectively for your company.
It has been shown that upwards of 35% of Tuition
Assistance Plans costs are wasted each year. Ask
your CFO what was spent company-wide on TAP in the last five years
and that is a hefty chunk of change.
The waste comes from:
- No defined goals for educating employees
- No measurement for goal success
- No direction given to employees about choosing proper
The focus of Tuition Assistance must be on the ROI for your
whole organization, not solely the administration functions.
Investments in education should be strategic and measurable to
support employee retention, employee performance, diversity
promotions and succession planning for the "mighty middle" - all
part of growing the talent of your Human Capital.
Educational Planning tools are needed for employees,
departments of learning, organizational development and talent
management. Using EASi tools have proven a significant
cost-reduction for many employers of Fortune 1000 level companies
and better results for Employee Education investments.
This is what EASi is all about - providing the solutions
to make your Tuition Assistance Program efficiant and cost