How does a 'tuition reimbursement program' benefit a company that starts it?

Question

I've brainstormed some ideas, but some fresher ones would be appreciated.

Answer 1

I can think of 3 off the top. The first would be the immediate impact on recruiting - larger pool of applicants = better quality employees hired. 2nd - you would raise the educational level of your work force = smarter employees = more productive employees. Finally, you would be able to increase stability against turnover rate. Tuition reimbursement means employees stay with the company longer means lower turnover which also means you lower training and hiring expenses. Hope that helps.

Answer 2

It benefits both the employee and the company. The employee gets an education that can make him or her a better employee, earn more, be able to handle more tasks, etc.

The company can add tuition reimbursement as another benefit for employees to work for them and can probably use it around tax time for a deductible or something.

It also creates a relationship with the university or universities that the employees attend, opening up possible applicant pools and even business partnerships with the school, people or other organizations associated with it.

Answer 3

I can think of three reasons of how it benefits both the employer, employee, and customers/clients.

The main thing I can think of is that a tuition reimbursement program would allow the employees to stay on top of the field in obtaining new skills. Each career field is evolving each year especially in fields requiring computer technology.

Most of all, it helps your employees provide a quality product to your customers and clients.

Potential employees often search for an employer who provides this benefit, so it will attract quality employees.