Send your employees back to school for an undergraduate/master’s degree, or even a certificate, and you reap the benefits.
The employee earns the degree or the certificate and benefits directly via additional education, skills and possibly even a raise or promotion from you. While it’s obvious that the employee receives a terrific benefit, your insurance agency or department also gains something of value. What is it? Read below for several different ways your company benefits.
- Employees you help earn a degree or certificate tend to stick around. As you know, retaining top employees is more cost-effective than finding new ones (of course we can help you find top tier new employees too!). What’s more, employees who continue with their education tend to be promoted, take on more responsibility, take some of the work off of their supervisor’s shoulders and provide more value than employees who don’t go back to school.
- A 2012 survey by a nationwide staffing firm found that 61 percent of employees who received additional training indicated that they planned to stay with their current employer for at least the next five years.
- Don’t forget: when done correctly, reimbursing or paying all or part of an employee’s continuing education is a tax deduction for your business. Talk to your company’s CPA or accountant.
- Your company will become known as a top employer to work for, helping you attract top employees.
If you haven’t offered employees help in paying for continuing education because you feel that no one would take you up on it, check with your workers first. You’d more than likely be pleasantly surprised how many ambitious workers you already have on staff.
Helping employees with their continuing education is common: the Bureau of Labor Statistics reports that more than two-thirds of U.S. companies with more than 100 people offer some type of tuition reimbursement for employees to attend graduate school.
When looking for insurance professionals and/or administrative help for your insurance agency or department, call upon the recruiters at Insurance Relief™ to help you find them. We look forward to hearing from you.