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Earn While You Learn

May 26, 2008
All sorts of corporate programs have been developed to help further educate working professionals while on the job. The concept of earn while you learn, tuition assistance, and corporate training events are now the norm.

Nowadays, there are many alternatives to traditional four-year degree programs. Individuals can opt for an apprenticeship training, continuing education course, or certificate program.

Employers realize that the college experience is not for everyone and thus there are also alternatives to the classroom setting. There are numerous online or virtual classrooms that give students the flexibility to complete their education at a more self-directed pace.

Below is a list of employer-sponsored opportunities that are available to students.

Tuition Assistance

One of the biggest reasons working people list for not furthering their education is lack of financial resources. As part of a compensation package, many employers offer tuition assistance or tuition reimbursement programs. Such programs are designed to increase skills and employee retention. Investing in education sends the message that the employer has a vested interest in its employees.

Now there are stipulations that go along with a tuition program. Some require that the employee remain and employed by the company for a specific period after the training is complete. In others, you enter into a contractual arrangement that binds you to the guidelines of the agreement.

Generally, in a tuition reimbursement program, you are responsible for all upfront fees and tuition charges that are associated with the educational training. After the program is successfully completed you are reimbursed the expenses you incurred for the training. Tuition reimbursement is usually only applicable to the costs of tuition, books, and course fees.

Legal issues will come into play with respect to tuition aid and reimbursement programs. Tax laws determine whether or not any type of reimbursement program is taxable or not. Some employers will only pay for those programs which offer them tax benefits while others offer them to the discretion of the employee.

The Human Resources department at your company will have all of the details of the programs offered by your employer.

Company-Sponsored Training

Tuition assistance beneficial for all parties involved for a number of reasons. The employee earns not only a salary but an education which in turn increase the chance for advancement. The employer reaps the benefits of the training by increased employee loyalty, motivation, and productivity.

Company-sponsored training, in all its forms, benefits everyone.
About the Author
Tony Jacowski is a quality analyst for The MBA Journal. Aveta Solution's Six Sigma Online offers online six sigma training and certification classes for six sigma professionals including, lean six sigma, black belts, green belts, and yellow belts.
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