TM - April 2008 - (Page 36) recruitment & retention assessment & evaluation compensation & benefits performance management learning & development succession planning [compensation & benefits] by Daniel Margolis Using Tuition Assistance as a Tool for Recruitment and Retention A tuition assistance program is just one of many benefits employers can use to attract talent. If managed correctly, it can help build a workforce with the right skills. F or many, an employer paying for its employees’ education might seem like just a nice idea, a courtesy or amenity to be offered if time and resources allow. But more and more talent managers realize tuition assistance can be a tremendous recruitment, retention and development tool. Heidi Milberg, director of business development for General Physics Corp., an HR outsourcing firm, has seen this transition take place during 15 years supporting tuition reimbursement programs. She said an employer’s first step in administering a tuition assistance program is not determining how much money to provide employees, how to reimburse them or what qualifies for reimbursement. It should be identifying the goals or focus of the program, what the talent manager wants to achieve through tuition assistance. This can be affected by where the program is placed within an organization. Two likely homes for tuition programs — learning or the benefits group, which is typically HR — create different focuses. For instance, if the program falls within the learning department, it indicates a focus on workforce development. “We’re starting to see companies interested in the whole employee, from the time they’re hired or recruited until the time they retire,” Milberg said. “Tuition programs are more important when it comes to employee development and not just recruiting and retention. When it falls within the benefits group, it’s disjointed from the learning and development side of it, and the focus is strictly on recruiting and retention.” Tuition assistance programs can have tremendous value for recruitment and retention, providing their 36 April 2008 talent management magazine www.TalentMgt.com http://www.TalentMgt.com
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