Tuition Reimbursement Paper By: Alicia Edwards Due date: Sept 5 2010 Course: com285 Introduction There are many reason that an employees might get a promotion or be considered for a job in a higher position. One of these is education. Some of our employees have an 2 year degree and some have other levels of education. One way to excel in any company is to have a bachelor’s degree. The reason for me bringing this up is because we have come up with a program that can help employees who don’t have an bachelor’s degree get one. We have had a very successful year and will be providing the money for this program.
In this report, I will be explaining why this is a good idea, what kind of benefits the employees will get for applying for this degree, how it can help benefit the company as well. How it will help our employees Our employees are already skilled at what they do here at our company, but imagine if they were to learn more skills that would not only benefit their future here, but our company’s future. Our employees will have a choice whether or not, they want to go to an in-class college or online college. Now, we prefer they go to an in-class college.
This way, they can work on communicate and learn how to work with others, like they do at work. Some employees might prefer to go to an online college, for the simple fact that it won’t cut into time for the company. They will be able to take their time with an online school. It seems to be an easier and more convenient choice for employees. It will also help them when it comes to promotions and hiring for higher level jobs within the company. The Pros and Cons of a Bachelor’s degree There are of course many good reasons to get any type of college degree.
But, there will be things that can bring the experience to a downfall. I would not want any employee getting into this program and not know what to expect, According to http://www. suite101. com/content/the-pros-and-cons-of-college-degrees-a134586, “Earnings-the average annual earnings for bachelor degree graduates in 2006 was $45,000 compared to $25,000 for associate degree graduates (National Center for Educational Statistics, Fast Facts, 2007-2008). Degree Advantages-most adults who decide to put off earning a bachelor’s degree often regret their decision.
Adults with this degree find that they do not need to prove themselves in every position as much as those with a two-year degrees. Applicants with four-year degrees are hired before two-year degree applicants in most white collar career fields. Upward Mobility-adults with bachelor degrees have greater opportunities for corporate upward mobility, than those without this degree. Scholarships and Grants-Most scholarships and many grants are only eligible to students enrolled in bachelor degree programs. Cost-the tuition costs for a bachelor’s degree is more expensive compared to enrolling in an associate program.
The average cost was $13,424 per academic year for public four-year schools and $30,393 for private four-year schools in 2008 (National Center for Educational Statistics, Fast Facts, 2007-2008). Student Loan debt often places graduates in financial hardship for years following graduation”. One thing about the money is that the company will be helping the employees with the tuition so it will be a little easier for them to get started with the program. The employees won’t have to worry about getting in debt.
Since we have been doing so good this year, we have provided a budget for this program and any employees who want to go back to college. This is not mandatory for employees. This program will be for employees who are interested in going back to school and don’t already have a bachelor’s degree ( even if they have an associate’s degree). Some benefits of a bachelor’s degree According to http://www. ehow. com/facts_5139903_benefits-bachelors-degree. html and the U. S. Census Bureau, “the average lifetime earnings of someone with a bachelor’s degree is $2. 1 million.
A high school graduate can expect to earn $1. 2 million over his or her lifetime, while a person holding an associate’s degree can expect average lifetime earnings of $1. 6 million. People with bachelor’s degrees have higher savings because of their higher incomes, so they can engage in more hobbies and participate in more leisure activities. When it comes to skills, “the skills necessary to succeed in college and earn a bachelor’s degree are time management, responsibility, critical thinking skills, ability to communicate. These skills come into play at work as well.
It is also important to choose the right college too. The type of college that the employees choice will be very important because accredited colleges will be looked for in resumes when hiring. Employers want people not only to have a good education, but to have an education from a really good college. “Degrees from accredited colleges and universities are typically valued higher than degrees from schools that are not accredited because of the standards they must meet”. Benefits for the company There are many benefits for the employees for getting their bachelor’s degree.
But, there are also great benefits for a company that hires employees who have their bachelor’s degree. One of the benefits is having more time to spend towards the company. Employers won’t have to worry about training new employees if they have the experience and skills needed for the job. Employers can spend that time on things they need to do for the company and less time trying to teach new employers things they should already know. Also, having employees who have a good education from good schools are always well respected for having highly educated employees. It makes the company look good and gives them a good reputation.
This opportunity will be able to help everyone in the company get ahead and become successful. Even though, the recession is pushing things back and making the economy really bad, It could really help the employees to have a good and stable financial future. Our company will also benefit during this recession as well. The business will hopefully begin to bloom. References http://www. ehow. com/facts_5139903_benefits-bachelors-degree. html http://www. suite101. com/content/the-pros-and-cons-of-college-degrees-a134586 http://www. worldwidelearn. com/online-education-guide/education-vs-experience. htm