Ideas & Trends | Webinars and Presentations | TAMS | Featured Provider Network
The Parthenon Group, a strategic advisory firm, published research in March on the impact of the economic downturn on corporate tuition reimbursement programs. As a result of the research, they stated, “Our perspective is that although the current economic climate will clearly have an impact at the margin, wholesale reductions in corporate tuition reimbursement do not appear to be a threat.” Click here for the full report.
Research Highlights Need for More Strategic Approach to Tuition Assistance
Bersin & Associates, a research and advisory firm, conducted an in-depth study of Tuition Assistance Programs (TAPs) from August to November of 2008 and found that “TAPs are a nearly universal employee benefit. Yet, despite best intentions, TAPs are not generally leveraged strategically, and are not aligned with talent management and employee development initiatives.” Click here for the executive summary.
Applying the Tuition Research:
Opportunities Abound to Showcase the Value of Your TAP
By Elizabeth Hibner, Senior Product Manager, CAEL
Tuition assistance programs are around for the long–haul, but there definitely is room to strengthen the link between your tuition assistance program and your company’s overarching talent management strategy. Now is the time to reevaluate your program in light of the current challenges faced by your company. If you haven’t yet been asked by your senior management why your company should have a tuition assistance program, it’s highly likely that you will be asked that question in the near future.
CAEL has worked with many companies over time to make changes, large and small, to their tuition policies in order to better align those policies with the desired business outcomes. The obvious first step is to take stock of what you have, listen to your key stakeholders (senior leadership, managers, employees) and find out what’s working well and what needs improvement.
In reviewing your policies, you should consider the following questions:
- Are employees pursuing the kinds of degrees that will make a difference to your business in 2 or 5 years?
- Do you have a system to track and report on usage of the program?
- Is your approval process a barrier for employees?
- Do you know when your employees graduate?
- Are there ways for you to leverage best practices from other companies?
- Have you encouraged employees to make the best use of the tuition dollars by forming partnerships with educational providers?
Webinars and Presentations
CAEL is launching a series of breakfast meetings in locations around the country. You will hear from your peers and participate in active discussion about the latest innovations in Tuition Benefit Management in a small group setting.
By attending, you’ll leave with great ideas you can use right away:
- Identify specific measurements you can use to demonstrate the value of your program.
- Use higher education partnerships to impact outcomes and costs.
- Structure your tuition program to meet learning needs, especially as training budgets are cut in the short term.
- Integrate the tuition program with long-term talent management initiatives, and build the skills and competencies you will need in the future.
- Effectively promote your program to your employees.
the Healthcare Industry
Many healthcare employers struggle with the cost of employee turnover and look for ways to improve retention. Turnover, coupled with the shortage of qualified employees, threatens their ability to provide quality care. Addressing these challenges requires coordination of talent management strategies. Linking best practices in management of tuition assistance programs with effective education partnerships and the design and implementation of career ladders are proven approaches to effect change in the healthcare workforce.
Phyllis Snyder and John Zappa, Vice Presidents at the Council for Adult and Experiential Learning, and Judy Schueler, Vice President of Organizational Development and Chief Human Resources Officer at the University of Pennsylvania Health System, will provide examples of how they have worked to implement programs that provide information, access and support to incumbent and newly hired workers to advance in their careers through:
- Increasing the value of tuition assistance programs by linking them to a talent management strategy;
- Strategic partnerships with higher education institutions to ensure appropriate and cost effective education, and;
- Development of nursing and allied health career pathways that are linked with the competencies needed to advance.
When: Wednesday, May 13, 2009 2 PM EST
Register for this webinar by clicking here.
Tuition Assistance Management Service
Showcasing the Value of your Tuition Assistance Program: A Practical Approach Does your company have a Total Rewards Program?By Erin Perez, Client Services Manager
A total rewards program encompasses all the strategies that employers use to attract, retain and motivate employees. It also demonstrates to your employees the full value of their relationship with the company. These benefits are both tangible and intangible, including compensation, benefits, work/life programs, professional development and performance recognition strategies. Reporting models vary from company to company, but are designed to measure the full exchange of value between employees and employers.
CAEL assists a number of its tuition clients with their total rewards programs by providing regular, comprehensive reporting on the tuition benefit utilized by each of their employees.
According to Warren Hoffman, Vice President of Learning Operations at Prudential, “Prudential’s Total Rewards framework is an essential part of our ability to attract, retain and engage a talented workforce. Our Total Rewards package is competitive and includes health and work/life benefits, pay, a performance–based bonus, a stock purchase plan, support for volunteerism and charitable giving, and much more. We are particularly proud of our generous Tuition Assistance Program and consider it a critical component of Total Rewards because it encourages associates to identify development opportunities that will build skills and continue their growth. This, in turn, enhances Prudential’s individual and collective talent, giving us a competitive–edge in the marketplace.”
In a tough economic climate where companies must constantly evaluate whether internal initiatives are aligned with business goals, it can be invaluable to demonstrate the value of your tuition program to employees through integration with a Total Rewards Program.
Dr. Kenneth E. Hartman, Director of Academic Affairs, Drexel University Online
Drexel University, Philadelphia, Pa.
A long–held belief in corporate America is that colleges and universities prepare employees for entry–level positions, but it is the responsibility of the corporation to provide the skills and knowledge needed to contribute to the long–term strategic objectives of the organization. As such, a number of corporations have established their own internal “universities” to provide leadership development to senior and/or high potential employees.
However, many corporations are now beginning to rethink this assumption and examine the cost/benefits of outsourcing certain “educational” requirements to higher education institutions, thereby enabling their HR departments to focus their resources on the “training” needs of the organization. Click here to read the white paper.
New Members
Lewis University Joins Featured Provider Network
Lewis University is a regionally accredited, non-profit university that offers highly respected online master's degrees in addition to its traditional, campus-based programs. The online format is designed to help students pursue advanced professional goals in the most convenient and efficient way possible and without interrupting their current careers. Lewis University main campus is located in Romeoville, IL and offers the following programs:
Master of Science in Information Security
Master of Arts in Organizational Leadership
Master of Science in Public Safety Administration
Master of Science in Nursing
Expanded Programs
Drexel University Online Announces New Degree Programs!
Through the CAEL–Drexel Online partnership, your employees are entitled to receive a 10-25% tuition reduction on all new programs, as well as Drexel’s 60+ additional programs. Ranked among “America’s BEST Colleges 2009” by U.S. News & World Report, Drexel offers career–centered programs in a convenient online format that is ideal for working professionals.
Classes begin fall 2009, with an application deadline of September 7, 2009. Additionally, summer deadlines are rapidly approaching for all other programs. Visit www.drexel.com/cael for all the information you need to get started!
New Online Programs
60+ Programs in the Following Areas of Study:
Employees can apply online FREE today at www.drexel.com/cael. They should be sure to enter “CAEL” as their partner affiliation code to receive the full tuition reduction. For additional information about your partnership benefits, online learning, or the educational opportunities available to you at Drexel, please contact your partnership liaison.
Nicole Brown
CAEL–Drexel Online Partnership Liaison
(215) 895-0916
nab46@drexel.edu
www.drexel.com/cael
New England College of Business and Finance, New Name…New Programs…New Discounts!!!
New England College of Business and Finance (NECB) has changed its name from New England College of Finance to reflect the college’s broadened focus on Business Education.
Using a new state–of–the–art online learning platform New England College of Business has added 3 new degree programs at the Baccalaureate and Master’s levels:
In addition, for the first time in history, a private college has dramatically reduced its tuition in recognition of the needs of students and corporate HR budgets! CAEL clients further benefit with additional tuition discounts. Click here for more information. Consider these financial benefits:
Bottom line – NECB is transforming education in the 21st century by making college degrees affordable, accelerated, accessible, and relevant!
CAEL clients who are interested in making these breakthroughs available not only to your employees, but to their families and, at your discretion, your clients, should contact Pamela Dellaporta, NECB’s Director of Corporate Partnerships at 1-617-951-2350.
Ideas & Trends | Webinars and Presentations | TAMS | Featured Provider Network
