When it really comes down to it, your business can only be as successful as its employees allow. This is why such great effort must be put into recruitment. Naturally, you want your team to be filled to the brim with talented, hard-working individuals. And in today’s world, strong teams with plans of future success need to stock up on young and energetic forward-thinkers.
One way to both recruit recently-graduated job seekers and reinvigorate your current staff members is to offer tuition reimbursement. In many cases, people wish to forward their educations while pursuing their careers. Would you be willing to pay for the courses your employees take in order for them to build their futures with your brand? Doing so can have many benefits for your company.
You attract highly-motivated career seekers.
Your offer of tuition reimbursement is a hard one to beat. Job seekers who wish to forward their educations will find it hard to pass up such an opportunity. More importantly for your business, candidates who value continuous improvement in their profession are the types who a) wish to move up in the companies they work for, making them the hardest-working of all employees and b) are primed to be the most highly productive members of your workforce.
“Benefits like tuition reimbursement can increase the number of candidates who apply for openings,” believes Shelley Frost on Intuit.com, “An increase in applicants gives you more options, so you can find a quality employee who matches your needs. The little things a company offers can be a deciding factor for someone who is actively looking for a new job.” We must point out, however, that tuition reimbursement is no “little thing”.
You develop highly-qualified, loyal employees.
Loyalty means so much, doesn’t it? In a world where most people tend to regularly hop from one job to another, it certainly pays to have a staff made up of individuals who have no plans to leave your company. By investing in the education of your employees, you project a commitment to their futures – one that won’t go unnoticed. Offering tuition reimbursement breeds workers who are better suited to do their jobs and wish to do so specifically for your business.
“It may sound silly, but an intelligent workforce is pretty hard to come by,” writes Matt Breed on MoneyCrashers.com, “Employees who take advantage of tuition reimbursement tend to stay with the company longer. In addition to improved employee retention, the employer may have more employees who are easily promotable, saving them money on recruiting new employees.”
You retain your current roster of employees.
We’ve often championed the acts of boosting employee morale and ensuring current employee satisfaction as methods of recruiting talented new hires. There’s no better way to promote your company culture than to have its current staff sing the praises of the business. By offering tuition reimbursement, you place yourself in the upper echelon of employers who truly care about the futures of his/her staff members. Your current employees will greatly appreciate that.
“High turnover rates cost your small business significantly,” Frost reminds us, “When an employee leaves, you face expenses for recruiting and training the new employee. The change can also disrupt the workflow of your office until the new employee settles in. Offering tuition reimbursement can improve your employee retention rate and save your company money.”
Is offering tuition reimbursement a viable option for your business? For more expert recruitment advice, contact Hire Value Inc. today!