Tuition Reimbursement Implementation Report
Tuition Reimbursement Implementation Report
Every company has employees that would like to further their education. For the employees of our company, there is no better time than now. Recent approval by our company to budget for tuition reimbursement for employees seeking opportunities to enhance their skills in their field of work, we will see high interest in ambitious and talented employees. In this paper we are going to discuss professional opportunities business and communications degrees offer, different career opportunities available for individuals with these degrees, the earning potential of individuals with the degree, and how this company will benefit from assisting individuals with a degree in business and communications. Students who pursue a business communication degree are proficient in a variety of ideologies and business practices to work in marketing, public relations, networking and advertising. Business management is one more opportunity for graduates who have completed business communication training, and many choose to open their own businesses as a consultant.
Speech communication is an essential part of business communication training, as well as developing technical skills, strong language skills and the ability to work with a varied range of people (ULinks.com). Any individual who works in corporate America will find that an employee who holds a bachelor’s degree will have an overwhelming advantage over another employee who does not. In the field of business communications a degree will open doors of opportunity for Communication Manager, Public Relations, or Technical Writing (Career Information for a Degree in Business Communications, 2010). By offering a degree and providing to the employee an opportunity to grow within the company, the company will find that it is easier to retain employees and employees will become more valuable to the company’s growth. For employees who have aspirations for management, they could qualify for positions such as promotion managers, marketing managers, or public relations.
A promotions manager would oversee campaigns that integrate marketing and advertising tactics that would maximize sales. A marketing manager would work closely with advertising and promotions managers to boost a firm’s goods and services. The access the demand for a company’s product and seek new markets. Pricing strategies and customer satisfaction would fall into their field of expertise. A public relations manager’s responsibility would be to supervise public relation programs and create, establish, and maintain a positive public image for the company and its clients (Education-Portal.com, 2011). Business and communication majors are trained with a very diverse skill set including marketing and public relations, speech, critical thinking, and problem solving skills to name a few. These majors can work in a vast variety of different departments in the company.
When taking business and communications classes, the student will also grow competitive with enthusiasm, they will learn how to work with different clients in different environments, learn and understand market demands, and develop strong writing skills, all of which will eventually turn into a profit for the company. A business degree can be beneficial to anyone in any job or industry. Employers through all industries identify a business degree as an educational progression. Many people are unwilling to return to school to gain any type of degree. Many choose not to because the idea of leaving your job with a steady paycheck for school fulltime, does not add up. However, there are a number of accredited schools across the United States that offer part-time, distance education and online course options for business degree students. This creates the opportunity to continue working while obtaining a degree.
Business degree graduates will benefit from the opportunity to obtain a higher yearly salary. Those with an economics or business degree entered the workforce in 2007 with an average starting salary of $47,782, according to the Bureau of Labor Statistics. After a year in the labor force, business majors earned about 16 percent more than the average salary of all majors. Those with an associate’s degree made, on average, $7,228 more per year than those with just a high school diploma. Those with a bachelor’s degree made, on average, $20,488 more per year; while those with a master’s degree made, on average, $31,980 per year than those with a high school diploma. What these numbers suggest is that in your working career, you could be looking at making $1.3 million more than a high school graduate just by returning to school and completing a business degree. Business graduates frequently end up in managerial and supervisor positions.
The Bureau of Labor Statistics reports that seven out of the top 25 highest-paying careers of 2008 required a master’s in business administration or a related business degree, including chief executives, computer and information system managers, marketing managers, financial managers, and sales managers. Furthermore, management and consulting services, both of which require a professional business degree, recently ranked as the fastest-growing industry, with a 6.2-percent increase expected by 2018 (BusinessDegreeOnline.com, 2011). Some companies offer a tuition reimbursement plan for all or part of an employee’s tuition for undergraduate or graduate programs.
These plans are considered vital to an employee’s benefit package. How the company benefits is in unproved employee skills, employee retention, employee recruitment, education developed leaders, and better team players. Not only will some companies offer university education but also reimbursement for industry certifications. Most companies what offer reimbursement for advancing an employee’s education will often require that a student maintain minimum grade point average (Eric Scott, 2011).
Implementing a tuition reimbursement program for employees studying business and communications will not only entice more individuals to want to work for the company, but it will encourage current employees to maintain employment with the company. Because the company has already approved the budget for this expansion, we should roll out this reimbursement plan as soon as possible to help improve employee morale fill vacant leadership positions, increase retention, and reduce expensive external recruitment.
ULinks.com, Business Communication Degree: Business Communication Class, Business Communication Training, 2011. Retrieved from: http://www.ulinks.com/businesscommunicationdegree-businesscommunicationsclasstraining.htm Career Information for a Degree in Business Communications. (2010). Retrieved June 27, 2012, from Education-Portal.com:
Subject: Academic degree,
University/College: University of Chicago
Type of paper: Thesis/Dissertation Chapter
Date: 30 October 2016
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