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August 10th, 2021 · 4 min read

The CHRO's guide to education as a benefit

What does education as a benefit mean?

Examples of traditional education as a benefit programs

  • Tuition assistance or reimbursement programs
    Tuition assistance programs (TAPs) are one of the most common forms of education as a benefit. With a TAP program, the employer covers part of the tuition cost associated with completing a degree or other form of credential from an academic institution. While this can be hugely beneficial for employees, these programs are frequently underutilized. Many TAPs come with specific policies or conditions that are restrictive and make it difficult for employees to take advantage of them.
  • Short-form digital certification courses
    There are countless online publishers and content providers that offer digital certification courses for a variety of industry-specific skills and job functions. These courses are typically short-form, meaning they last only a number of weeks or a few months. This type of option is effective at meeting short-term training needs, but lacks the long-term skills development component that’s often necessary to fuel meaningful career advancement.
  • Student loan repayment plans
    The burden of student debt is felt across all industries and job functions — it can even lead to less productive employees. That’s why some organizations offer a student loan repayment plan as a benefit — this type of program allows employers to make contributions directly to a staff member’s student loan provider.

    While this education benefit can be effective at attracting and retaining employees, it does little to encourage continuous development or career advancement.

Why businesses need to think beyond education as a benefit

  • Strategic design: Develop a workforce education program that’s specifically designed around your long-term business objectives and the unique learning and skill-building needs of your workforce.
  • Flexible platform: InStride’s flexible technology platform makes managing your education program simple for administrators. You can monitor enrollment, streamline billing, and track program performance with real-time reporting.
  • Academic network: Partner with high-quality academic institutions that are flexible, scalable and provide access to online learning options that fit the needs of working adult learners.

Business advantages of rethinking education as a benefit

  • Business agility: Equip your employees with the knowledge and skills necessary to take on the jobs of tomorrow.
  • Attract and retain talent: Keep employees engaged by providing them with continuous learning and development opportunities. Meanwhile, attract top talent by promoting your program and commitment to employee growth.
  • Advance diversity, equity and inclusion: Education promotes equity in the workplace and breaks down barriers. Enable underrepresented employees to reach their full potential by providing access to education that may have previously been out of reach.
  • Enhance your employer brand: Make employee development and social impact a core brand value
  • Drive revenue and profitability: A more skilled and educated workforce directly impacts your bottom line
  • Display corporate citizenship: Providing people with access to education has benefits that extend beyond the workplace. This impact is felt by their friends, family and the greater community.

You can address talent development challenges