Tuition Reimbursement Program Popular Among Working Adults
Majority of the working adults, who are also pursuing higher education through the employer’s tuition reimbursement program, feel that it has made them more effective employees.
This was revealed in Bright Horizons’ first annual Working Learner Index survey of nearly 30,000 American working adults.
Around 64 percent of respondents were found happier at work due to the tuition reimbursement program, while 76 percent said such program would make them more likely to remain at their organization and recommend working there to a friend.
Out of those surveyed, 84 percent said the skills or degree earned through their employer helped to prepare them for the future of work.
When asked about the motivation to pursue more education, 42 percent of the respondents said that it was necessary to keep pace with the changes in position, 33 reported the money as a motivating factor followed by pursuing a career in a new field and for growth opportunities at a different organization.
The changing market and the mounting student loan debt is also generating the employee’s interest in benefits like reimbursement and student loan repayment. Nearly 80 percent of the working adults choose retirement saving program when it comes to choosing from the most desired voluntary benefits available to employees.
The paid sick or vacation time found support from 70 percent of the respondents, followed by 65 percent support for tuition assistance, student loan repayment benefits.