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How Much Education Do Your Employees Need?

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Business Woman Executive ManagementYour employees are the engine that helps run your business.

With that being the case, do you feel your employees have the right amount of education at the time of hire and while they are doing their jobs?

As more and more companies are discovering, paying in full or in part to send employees back to school to further their educations can be a very beneficial move.

With technology ever-changing, many employers see a need to give their employees additional educational opportunities, allowing them to stay abreast of what is needed in contributing to businesses in today’s technological world.

So, how much education do your employees need?

Encouraging Workers to Grow

As an employer, you have myriad of responsibilities sitting on your plate day and night.

One of those responsibilities is making sure that you not only hired the best possible workforce, but that you make sure they remain on top of their work responsibilities each and every day.

But what if they’re falling behind as far as education? What happens when competitors have employees who are more advanced, especially in the area of technology? Do you run the risk as a business owner of letting the competition get the better of you?

One means whereby employers can stay on top of the latest in technology, accounting and other areas is by offering their employees the ability to continue their educations while working.

Although there can be issues with employees having enough time to work and go to school at the same time, letting workers study and gain more education online can be just the answer.

Through online accounting degree programs, employees can not only master skills necessary in the accounting field, but they can do so while not having to let their workplace responsibilities take a backseat.

If your business is open to such possibilities, there are several factors to keep in mind.

These include:

  • Support – First and foremost, make sure your employees know you fully support their efforts to further educate themselves while under your employ (whether you encourage the workers to gain more knowledge or they want to do it on their own). Some employees may feel like you will worry about them being able to juggle both work and school at the same time; this is where your support for their initiatives becomes so important.
  • Initiative – Face it; some employees need a little push from time to time. With that being the case, encourage those requiring such support to want to further their skills and knowledge. Some companies will put in place incentives for workers to increase their educations. Whether it is the ability to move up the corporate ladder or to get additional education which is essentially free, the possibilities can be endless. When you have a motivated team of employees, your business tends to do better than those just seemingly going through the motions day after day.
  • Finances – Finally, who will pay for each and every employee who wants more education to receive it? Some companies will foot the entire bill, while others will cover a portion of the expenses. In some cases, employers won’t pay for added education, but will instead offer other amenities (opportunities for additional salary and job responsibilities etc.). No matter which option your business chooses, be sure to figure out the financial end of things before signing off on online or in-person educational opportunities for your staff.

In looking at the big picture as an employer, always remember that the work world is literally changing each and every day.

As a result of this, it is important that your business stays abreast of what is necessary to outshine the competition. If you don’t stay on top of what is needed to successfully run your operation, you could find yourself and your employees watching the competition pass you by.

Lastly, always be supportive of those employees looking to learn more.

It is easy for many workers to fall into a rut and just show up on a daily basis for work.

The key is finding those employees who want to learn everything possible and more about their specific jobs.

When they do that, everyone benefits.

Photo credit: BigStockPhoto.com

About the Author: Dave Thomas covers business topics on the web.

Educating Your Employees to Succeed

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What have you done for your employees’ education of late? Perhaps it’s not a topic you think about a lot.

According to the Bureau of Labor Statistics, only 34% of smaller companies offer their employees tuition reimbursement. It’s easy to understand why. In the current economic climate, many small businesses are struggling to make ends meet, and tuition doesn’t come cheap.

But if you’d like a more engaged, more productive, and more loyal workforce, educational reimbursement just might be a smart move for your business.

Here are five reasons why:

1. Your Employees Will Gain Skills You Need

When you need a more skilled workforce, where do you look? Do you turn to temps, or start recruiting?

By offering tuition reimbursement for courses relevant to your industry, you can find the skilled workforce you need among your existing employees. You can offer anything from a full degree in a relevant field, to enhanced training on new technology or business related courses.

Not only will you save on the expensive recruitment process, you’ll find many employee educational fees attract tax breaks.

Instead of putting yourself through the stress and uncertainty of finding new employees, why not make the most of your existing workforce by helping them to gain the skills you need?

2. You’ll Gain a More Productive Workforce

Further education increases productivity in two ways.

First, your employees will learn relevant skills that will help them to get even better at their jobs. But there is another bonus too – further education teaches a range of “soft skills”. These are skills that aren’t directly related to your company’s daily business, such as:

  • Better time management;
  • Increased confidence in public speaking;
  • A more active and engaged mind;
  • Enhanced teamwork skills.

The skills learned while studying are transferable skills that can be great assets to your company overall.

3. Staff Morale Will Go Up

Who doesn’t want a happier work force?

Increased staff morale means good things for both you and your employees:

  • A better working environment for your employees;
  • Less stress for you;
  • Less time spent dealing with interpersonal problems and despondent employees;
  • Tasks getting done and done well as employees approach their work in an upbeat frame of mind.

Offering tuition reimbursement can help to increase staff morale by showing your employees that you care about their future. By offering education and the chance to progress in their roles, you’re giving your employees something to aim for.

In fact, a study by the ROI institute showed that an impressive 64% of employers who offered tuition reimbursement noticed a significant increase in how engaged their employees were.

4. Company Loyalty Will Increase

“But if I offer my employees education, won’t they take the skills and go elsewhere?”

It’s easy to worry that if you pay for your employees more education, they’ll take those skills to your competitor and you’ll be left out of pocket.

In fact, the same study that found offering educational reimbursement increased loyalty, also found a 64% increase in company loyalty. Employees feel they have a future with a company that cares enough to invest in them.

You can safeguard against losing your newly trained employees by offering reimbursement as part of a contract that specifies how long your employees will need to stay with your company to get their fees paid.

And of course, you can make sure the programs you are offering are relevant to your company and to career advancement within it.

5. You’ll Have a Competitive Edge During Recruiting

Offering educational reimbursement can help to increase employee retention, but of course there will come a time when you need to recruit, whether that’s due to expansion or an employee taking extended leave.

As a small business, it can be hard to compete against bigger employers who can offer flashier recruitment packages. A good educational reimbursement package is another string to your recruiting bow.

As well as showing you care about your employees and want to invest in them, it’s a signal to new recruits that there are opportunities for growth within your company. You’re offering them more than a job; you’re offering them a career.

A well-planned tuition reimbursement program is a smart investment in your business, leading to happier, more skilled and more engaged employees.

If you offer relevant education in return for a certain period of loyalty, both you and your employees will benefit.

Photo credit: cmm.com.au

About the Author:  Tristan Anwyn is an author who writes on subjects as diverse as health, marketing, Education via Yahoo, and SEO.