Why does your company offer Tuition Assistance? The answer
to this question should define your program.
Most companies answer - "because our competitors offer it, so we
have to." Wrong answer. This is too simplistic an
answer for what TAP can do for your company.
Companies should offer TAP to increase employee
performance, maintain a pipeline of talented employees, create
employee loyalty, and support all Talent Management initiatives
through cost-effective means.
And the only way to make sure all of this is accomplished, is to
measure the success.
TAP data is not centered on strategic use for Talent
Management - it is merely focused on process, tracking and
compliance. Education increases the pool of applicants to
grow with your company. Yet, very few companies link
TAP data to staffing solutions. So often staffing needs to
hire an employee and uses expensive outside services to do so,
while pools of TAP educated employees are overlooked or not even
TAP educated employees cost a lot, but no one tracks their value
to your company during and after they complete their degrees.
Where do your graduates go? Often to your
competitors and that loss is priceless! This can be
Example: Company needs to hire an MBA/Accountant.
Company has just paid $60,000 to educate an employee with an
MBA/Accounting. Company hires from outside = cost of
advertising, head hunters, training period and loss of
production. Now, that wasted educational investments has cost
the company about $150,000 when the real solution could be found
with the right TAP data collections and dispursements.
Employees of Diversity that use TAP are more
promotable and add to a diverse population and corporate
success. Do you know how your company tracks and measures
this data - or do they?
EASi will help your HR team:
- Customize the definition of your TAP
- Determine Outcomes
- Determine Appropriate TAP Data and Dispusement
- Establish Means to Measure Success