Investing in Employee Education Pays Off in Retention
Investing in human capital and employee retention both prove crucial in today's marketplace. When a company provides employee education and training programs, employees gain fresh, new ideas that can improve the firm's bottom line. Benefits to the employer, which often outweigh the cost, include:
- Reduced turnover. Employer-sponsored education can provide a powerful incentive to stay at the company.
- Cost savings. Retained employees save companies millions of dollars a year in new recruitment costs.
- Better productivity. Employer-supported education programs tend to encourage more commitment and higher job performance among participating employees.
Until recently, employees had to take valuable time away from work to attend classes when acquiring an education for business purposes. Now, many online colleges like New England College of Business offer accredited courses to elevate employee skills from the convenience and comfort of home. Students can brush up on accounting skills, learn the latest digital marketing techniques, study business ethics and compliance, or earn an online MBA as part of their employee education.
To make employee education more affordable, New England College of Business partners with organizations to give employees discounts on tuition benefits. Best of all, the Corporate Partnership program extends this employee education benefit at no cost to the employer.