Ever since companies started offering perks to their employees as a way of enticing them to join them or to remain loyal, there have been many different fringe benefits used for that purpose. Some have sustained the test of time, but others have proven less efficient.
People have been experimenting with money, company car, phones, days off and many other perks and they all have their merits. Still, when it comes to the ones that last, helping employees get their college degree is by far the best one.
Why companies pay for college
Although you may think this is an unnecessary expense and that companies should look for “finished products”, the truth is quite different. Finding young, ambitious people with the right attitude who are willing to work for you is not easy, but it pays off in the long run. Those employees feel much more grateful for the opportunity and are ready to work hard to justify your trust in them.
Also, you get to choose exactly what kind of future expert you and your company need by narrowing your search to those interested in completing a particular course. Finally, you shouldn’t forget that some people may not have enough money to pay for their education, but would be an excellent addition to your company and will be able to repay you very soon though their work and commitment.
As expected, those who receive this kind of help are much more likely to stay at your company longer, which means you won’t have to worry about staff turnover that much. Those among you looking to build a team of satisfied and grateful employees should definitely consider this kind of assistance, since you would be providing lifelong help to your employees.
What kind of help can be provided?
Obviously, the financial aspect of getting a college degree is usually the issue. There are many young people whose families can’t afford to send them to college, but who have all the qualities your company is looking for. By assisting them with their tuition, you’d be doing a favour to both them and your company.
There are also other ways in which you can help. For instance, providing them with the necessary study material, such as that available on the renowned Thinkswap platform, would be of great help. Also, make sure you regularly check their progress and show interest in how they’re doing. After all, it’s your investment and you need to protect it.
Which companies are providing this assistance?
You’d be surprised to find out that all major international companies have a system in place, which is designed to allow employees to pursue a college education. Amazon, the Walt Disney Company, FedEx, Google and Facebook are just some of the most renowned ones and that should really be a valid indicator of the value of such programmes.
Needless to say, each company has its own support program, but what they’ve all realized is that investing in employees’ education is a sound investment. So, if you are still not providing such help, it’s time you considered introducing it.
With a great majority of employees saying that perks are among the top things they consider when deciding on a job, and an even greater majority claiming that a pay rise is not the most desirable incentive, it’s up to employers to respond in an appropriate way. Helping your employees get their college degree is just one of the ways that can help you attract new talent, but it is definitely one of the most efficient perks. If done properly, it can provide a significant boost to both your company’s productivity and loyalty of your employees, which are the foundation of every business success.