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How can I set up a Continuing Education benefit for my employees?

Home » Careers » Continuing Education » How can I set up a Continuing Education benefit for my employees?
Posted by Your Guide on November 16, 2005 1:14 PM

Many employers have seen the benefits of offering assistance for employees who would like to enroll in continuing education, including creating a more loyal and productive work force. While some employers fear that they might invest in an employee’s education only to see them leave the company, the reality is that in many cases your investment in them as a person and employee often makes them want to stay.

According to Lee Ann Obringer, author of

How Employee Compensation Works,
before you set up a continuing education benefit for your employees, you should consider the following:

  • How much money will the company offer in assistance? (The IRS will allow you to contribute a maximum of $5,250 tax-free.)
  • Will you pay varying percentages of the tuition based on the grades the employee gets for the course?
  • Should it be limited to courses related to the employee's current position, or other positions within your company? (Usually, this is required by most employers.)
  • Will all of your employees be eligible? (Will it be offered to part-time employees as well as full-time?)
  • Will you have a contract in place that the employee must sign guaranteeing they will stay with your company for X months after they complete the training?
    • http://money.howstuffworks.com/benefits10.htm

Options abound, allowing you to set up the kind of employee continuing education benefit that works for you and your employees.



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