What Companies Pay You To Get Your Cdl
For today's professional, a full-time chore and family commitments are oft then fourth dimension-consuming that earning a college caste is a daunting gamble. Questions of affordability, flexibility, and relevance dominate determination making—in short, will the degree be worth the investment?
Alleviating risk in i area tin make the decision easier. Financing higher education is perhaps the biggest obstacle to earning a degree, just what if the employer shouldered all of the financial burden? Through tuition assistance or reimbursement benefits, an employee could learn new skills and get a reliable asset to their organization, with less stress nearly how to pay for it.
The problem? At many organizations that offer education benefits, fewer than 5% of employees take advantage of these programs, according to SHRM.
This is a missed opportunity for both employee and employer, specially in light of the pandemic, every bit fears of broad-calibration layoffs and furloughs accept acquired many employees to contemplate career shifts and building new skills.
"Companies will compete on how well they are able to find, source, develop, accelerate, and retain talent," according to research by the U.S. Bedchamber of Commerce Foundation. "Learners and workers will compete on skills and credentials and the ability to be agile in a dynamic labor market and economic system. Communities, too, will compete on their ability to attract, develop, and retain a competitive workforce that will bulldoze economic growth, opportunity, and prosperity."
The global pandemic has introduced new urgency and risks that require bold thinking to update antiquated talent and pedagogy financing practices. Current approaches to financing education and career readiness fail to meet the needs of the labor market. Nosotros in higher ed and the employment space demand to create employee education programs that are attractive and relevant for the employee and that can build and retain a skilled workforce for the employer.
A 2016-17 survey administered by the Graduate! Network institute that from an employer'southward perspective, didactics programs were influential in their ability to achieve organizational goals, including decreased turnover and increased customer satisfaction, employee engagement and productivity, and profit. Experts at McKinsey contend that businesses will sally stronger from the pandemic if they start reskilling their workforces now.
There is enough bear witness that this is the correct path forward, so why aren't we moving rapidly to scale employer-sponsored employee education programs?
Because employer-sponsored employee education programs are non ready to exist scaled. The electric current user experience is Byzantine and lengthy, overly processed, and almost as user-friendly equally a rotary telephone in an iPhone world.
To showcase the ability of these programs, we need to create an experience that is both easy and interesting. Higher education and employers tin can come together to create innovative solutions that produce tangible results. Fiat Chrysler Automobiles US (FCA) partnered with Strayer University to offer its dealership employees and their families the opportunity to earn a degree at Strayer free of charge. According to 2017 data, participating dealers experienced nearly 40% college employee retention and a 17% higher revenue growth than nonparticipating dealers.
But just creating a improve experience isn't plenty. Nosotros demand to bear witness value, because for employees, the value of earning a degree or credential is not always clear.
A recent national poll by Strada Education Network found that there is growing interest in postsecondary instruction or training among adult learners aged 25 to 44 without a college degree. However, these learners are less probable than they were a year agone to believe that the education or training will be worth the price and will help them become a good job. Fewer than one-third of adults without degrees reported understanding "very well" available career pathways, valuable skills, and details about potential didactics programs.
This is a call for employers to help. By developing solutions that provide employees with a clear path to success—from choosing a caste program that all-time fits their goals to mapping out which courses will be about applicable—employers can finer train or reskill employees to meet their own workforce needs.
But how? Employers are working with cumbersome platforms, picayune to no measurement or tracking tools, and loftier fees for online program managers (OPMs) to administer didactics benefits.
The pandemic has reminded us vividly of the power of technology to alleviate and solve challenges. Nosotros talk with our doctors, bank securely, and lodge dinner, all on our phones—all but eliminating any argument that technology has no place in higher education. In that vein, to exist successful, employee education programs must shift to be more than similar a make your ain burrito bowl and less like a prix-fixe menu.
A partnership between Noodle Partners and Strategic Education—parent company of both Capella University and Strayer—adapts the insurance industry's concept of "in network" and "out of network" to deliver relevant educational programs.
Through a newly developed employee education direction portal, employees will be able to choose from Noodle'due south network of public and private universities, find a plan that fits their needs, and manage their benefits—all on one platform. Employers volition be able to log into the same portal to administer and disburse funds as well as check on progress. This new level of data will allow benefits managers to better track returns on their investment and make adjustments equally necessary.
This case shows how much there is to gain when higher ed and business come together for the do good of developed learners. The cardinal to a successful partnership is to prioritize the needs of employee-students, which are very different from those of traditional 4-twelvemonth higher students.
There are more innovations like this that volition achieve better results for employers and for workers. The U.Southward. Chamber of Commerce Foundation, in partnership with the Federal Reserve Bank of Atlanta and others, recently launched Talent Finance, a groundbreaking initiative to explore new private-sector-led solutions for investing in people and skills that keep pace with innovation and accelerate economical opportunity, inclusion, and competitiveness. Constant innovation and investment in the economy'southward near of import resource—human majuscule—is needed to build the workforce of the future. Talent Finance will develop new means for employers and the financial services community to work together to place individual sector tools for financing talent evolution and new strategies for managing risk in the labor market.
The pandemic reminds the states all that the fashion nosotros've washed things in the by is no longer a feasible option. For the U.s.a. to grow its economy and strengthen its global competitiveness, the education and business industries must reimagine their approach to expanding economic opportunity. Strategic investments demand to be made on both the employer side and the employee side—with assistance from higher education companies that are willing to invest in promising technologies—to evolve the tuition assistance and reimbursement programs for the future. Their brotherhood is a path forward for meeting the evolving demand for new skills with an affordable and accessible education that benefits employees, businesses, higher education, and the overall economy during a pandemic, and across.
To learn more about WorkforceEdge powered by Strategic Pedagogy, click hither.
Terry McDonough serves as president of alternative learning at Strategic Education, Inc.—a mission-driven higher education system dedicated to advancing economic and career mobility through higher pedagogy. In his office, Terry oversees Strategic Educational activity's non-caste portfolio, including Sophia Learning, self-paced general education courses that are ACE-recommended for college credit; WorkforceEdge, a full-service, online employee instruction direction portal; Degrees@Piece of work, customized employer-sponsored degree programs for businesses; and non-degree web and mobile awarding development programs through DevMountain, Generation Code, and Hackbright Academy.
Cheryl Oldham serves a dual part as vice president of education policy at the U.S. Bedchamber of Commerce and senior vice president of the pedagogy and workforce program of the U.Due south. Chamber of Commerce Foundation.
What Companies Pay You To Get Your Cdl,
Source: https://hbr.org/sponsored/2020/10/why-companies-should-pay-for-employees-to-further-their-education
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