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Improving Your Company by Degrees
The importance of Education Assistance Programs

Contributed by University of Phoenix

Many times when owners and managers think of the business idiom “long term assets”, they fail to keep in mind their most essential and potentially lucrative investment— their employees. As an organization succeeds, its workforce will inevitably grow and leaders will begin to emerge.  In order to realize future profit targets, successful firms must work to not only retain their current employees, but also enhance the skill set of their personnel.  By offering education assistance programs for loyal employees, businesses can amplify their core competencies and lock in potential profits.

There are a number of emerging universities in the Indianapolis area designed specifically for working professionals that can meet any company’s educational needs.  By utilizing these institutions to “invest” in their employees, businesses can give themselves an edge well into the future. 

Employer Benefits of Providing Higher Education Assistance

From increasing productivity to reducing turnover, there are numerous motivators for businesses to offer and encourage education assistance programs:

• Applicable Knowledge – While pursuing a degree, employees can master a range of pertinent skills and are exposed to emerging strategies, trends and models for success that may not be currently utilized by their respective organizations.  Many of today’s forward-thinking universities focus on working adult learners by providing real-world applications that are relevant on the job the following day.

• Efficiency – By enabling employees to further their education outside the confines of their company structure, managers are actually reducing the time investment that goes into organizing, implementing and monitoring the instructional process. 

• Employee Retention - Managers can show their long-term dedication to their team by supporting an employee’s educational aspirations.  Although economic downturn has seen businesses of all sizes scale back benefits and perks, savvy firms know that key programs like education assistance are valued by employees and actually end up benefiting the employer. 

• Credibility – While company-specific accreditations and training certificates are important measures of achievement within an organization or specific industries, it is human nature for potential clients and fellow employees to hold accredited degrees in higher esteem. 

• Perspective – Many schools focus on collaborative learning between students and instructors, thus stimulating education based on ideas and experiences from dramatically different industries.  By working with a diverse group of peers, adult learners gain valuable new perspectives and can apply these insights to their current jobs immediately. 

• Flexibility – Non-traditional universities enable working professionals to earn degrees more efficiently by offering manageable course loads and convenient night, evening and online courses.  This new trend allows employees to attend classes without missing a day of work. 

• Networking – Since classes for today’s working adults are typically filled with fellow professionals, it is not uncommon for key business leads or strategic alliances to develop as a result of a collaborative project or regular study group.