While there are many potential benefits of tuition assistance programs (or TAPs), the challenge for business leaders is to manage investments in employee education in a way that maximizes returns–both for the employer and the employee. Not only does a TAP need to encourage the development of specific skills in your workforce, it also needs to empower employees to pursue their educational goals.
For companies who want to launch a new TAP—or revamp an existing one—it’s hard to know where to begin. To that end, I connected with John Zappa, CEO of EdLink to identify a few key steps to get you started.
1. Identify Goals, Support with Investments
Work with your senior management team to set quantifiable, measurable goals. Address the question of cost early on, using your goals as a guiding compass. The more critical a goal, the larger your investment in a TAP. Alternatively, you can follow industry standards for less-than-critical goals.
You might consider breaking qualifying coursework into groups. Here is an example:
2. Establish Guidelines, Communicate Expectations and Opportunities
Clear guidelines and qualifications will help to ensure a TAP supports your business goals. As such, they Continue reading →