Essay On Tuition Reimbursement
We have been noticing a change of power on the American workplace and it is becoming an employee favorable market again and if this trend continues we will see applicants more demanding in pay, benefits and incentives. Furthermore, as the economy continues to get better and better, companies are constantly competing, innovating benefits and incentives to attract or retain talent. Tuition reimbursement is one of those benefits that an employer might offer. How it works; if an employee participates on this benefit, he or she must pay out of pocket for the courses they take and when the course or courses are over, the employee can get back some or all the tuition expenses. Employer sets the amount reimbursed allowed by IRS. In addition there are
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These are some benefits for employers to offer this program:
Recruitment tool: For many job seekers; tuition reimbursement programs can make the difference to accept or decline a job offer because college tuition remains a significant financial burden and this program can give an employer a substantial edge.
Knowledgeable workforce
Tax breaks: Up to that $5,250 annual maximum, your employer’s reimbursement program costs are tax-deductible
Employee loyalty
BENEFITS FOR EMPLOYEES Sometimes whether you have a degree or not, the idea of going to college and getting loans to pay for them is very scary. If you are an employee looking to better yourself by going to school then a tuition assistance programs offered by your employer can be a great added benefit. Because your employer will pay back for the classes or reimburses the employee upon completion of the coursework. Therefore minimal education expenses and a motivation to earn a degree can be benefits for
These are some benefits for employers to offer this program:
Recruitment tool: For many job seekers; tuition reimbursement programs can make the difference to accept or decline a job offer because college tuition remains a significant financial burden and this program can give an employer a substantial edge.
Knowledgeable workforce
Tax breaks: Up to that $5,250 annual maximum, your employer’s reimbursement program costs are tax-deductible
Employee loyalty
BENEFITS FOR EMPLOYEES Sometimes whether you have a degree or not, the idea of going to college and getting loans to pay for them is very scary. If you are an employee looking to better yourself by going to school then a tuition assistance programs offered by your employer can be a great added benefit. Because your employer will pay back for the classes or reimburses the employee upon completion of the coursework. Therefore minimal education expenses and a motivation to earn a degree can be benefits for