Education Reimbursement Policy
The root causes of the problem are unfortunately too deep for one organization to address alone: the current recession, the loss of many educational endowments, budget cuts across all industries (including education), and higher interest rates have caused tuition costs to go up while the money in company coffers, including funds for tuition reimbursement, go down. Also, the credit crisis has made obtaining student loans more difficult, thus increasing students' need while decreasing their ability to obtain funds.
While 'more' education is almost always a 'good thing,' unfortunately reinstating the company's more generous tuition reimbursement policy is not a feasible option. When the market favors job-seekers rather than employers, tuition reimbursement is often used as a way to attract top candidates. But the company no longer needs to offer tuition forgiveness to all employees, given the environmental constraints employees are currently operating under: even for the best employees, the job market is tight.
Having a simple cap of $7,500 on all employees' tuition reimbursement seems ineffective. Instead, the company must determine what specific skills are needed to replace the rapidly-aging workforce. Does it need more engineers? More MBAs? Does it need its employees to have more coursework in marketing online and in effective use of social media? Individuals seeking education in fields specific to areas of company need should receive greater priority for tuition reimbursement. Employees should be required to make a case for receiving assistance, and demonstrate that the skills they are learning in the classroom are vital for the future of the company. This would also ensure that those who seek to further their education are truly serious about doing so.
Even for employees who do not receive 100% tuition forgiveness, the company can create a more education-friendly workplace. Giving generous leave for employees to take time to go to school, allowing employees to do homework during the workday, and being sensitive to employee needs to balance work and school will generate goodwill.
Response 2: Split job functions
This is a disaster waiting to happen! First of all, individuals who are forced to multitask invariably commit more errors, no matter how much more money the employees are being paid to handle the additional workload. Customer service is a vital part of the company's success, yet the employees on the phone will be distracted when they simultaneously speak with customers and fill out the necessary forms. Dealing with the dealer's anger generated by poor service from call center operators and addressing the errors that are more likely to occur on the dealer's forms, combined with the additional compensation for the workforce, make this solution 'penny wise but pound foolish.'
You’re 77% through this paper. Sign up to read the full paper.
Sign Up Now — Instant Access Already a member? Log inAlways verify citation format against your institution’s current style guide requirements.