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Kim Lamoureux, Brenda Kowske
This report reveals the current state of tuition assistance programs (TAP). In this study, we took a look at how tuition assistance is being used, how much companies are spending on tuition assistance, how companies make decisions for tuition assistance and best practices for implementing TAPs.
While 85% of companies today have some kind of
tuition assistance program, most companies do not centrally manage their
programs or align them with corporate talent needs. The dollars involved are significant. The average expenditure for participating
employees in such programs is $3,769 per employee, almost three times what is
spent per employee on traditional corporate training.
This report takes an in-depth look at the
spending patterns and best practices associated with these common – and often
institutionalized – programs. The
research is based on surveys of more than 400 companies across all industry
segments, as well as interviews from representative corporate executives.
The 74-page report, the first of its kind, is a
mandatory read for any company that currently offers a tuition assistance
program or is considering such a program.
The report covers these and other topics:
The report includes nine best practices for
increasing the effectiveness of tuition assistance programs, along with
detailed examples from organizations such as Comcast Corporation, Cleveland
Clinic, Sprint, and Rockwell
Readers will also find charts and supporting
graphics for topics such as: rates of employee participation, budgets, payment
policies, employee feedback, performance improvement of program participants,
promotion rates for program participants, and much, much more.