Learning never stops, and that’s especially true in the workplace. We learn new things every day, and it’s an essential part of our growth as individuals and professionals. As an employer, you have the opportunity to help your employees thrive by offering benefits to help them achieve their goals, whatever they may be. One such benefit is Tuition Reimbursement, and there are a number of reasons why it can help your employees and your business.
Supporting continued education with Tuition Reimbursement can improve employees’ current skills and help them learn new ones. More education brings increased performance and productivity, adding value to your company. Professional development also gives employees a better opportunity to grow their career and contribute to your company in an elevated role.
Investing in the future of your employees shows you value them and want them to stick around. Employees who take advantage of Tuition Reimbursement should feel confident in their role and future prospects at the company. And even if employees don’t want to utilize the benefit right away, they can feel at ease knowing the opportunity awaits them when they are ready to grow professionally. An Oxford study found that happy employees are 13% more productive, so this benefits your business as well.
Providing benefits that help employees achieve their financial goals can alleviate stress. Individuals with high financial stress are twice as likely to report poor health overall, which can lead to more time off work due to illness. A 2019 Prudential study suggests that employers who help their employees with financial and physical wellness stand to gain healthier, happier, more productive employees with lower rates of absenteeism, and reduced employee turnover.
Offering Tuition Reimbursement benefits employees in a variety of ways, which improves your company as a result. With BenefitEd, your employees can use this benefit to continue their education within a current role or learn the skills required for a new role, and we’ll act as a third-party administrator, freeing up more time for your company to spend elsewhere. Supporting the future of your employees is a win-win situation, so learn more about how BenefitEd’s Tuition Reimbursement Program works, and contact us today.