Employers Offer More Tuition Reimbursement To Attract Talent | AccountingWEB

Employers Offer More Tuition Reimbursement To Attract Talent

Enhanced educational reimbursement programs are the latest lure for employers to dangle in front of talented professionals.

According to a recent study conducted by Hewitt Associates, a global management consulting firm, more than one-third of employers are beefing up education assistance programs to help attract and retain talent.

Compared to other tactics used, educational reimbursement benefits both the employee and the employer. The employee gains professional development while the employer may gain an even more skilled professional who may advance in the company.

Employer changes in reimbursement programs include increasing the annual amount allotted. The median reimbursement limit is $3,000, up from $2,000 in 1993. The survey of 460 companies also reveals that 84 percent pay for some type of degree program and 23 percent of the surveyed companies do not place limits on the amount reimbursed.

A complete copy of the report, Design and Administration of Educational Reimbursement Plans, is available from Hewitt’s Publication Desk. Call 847.295-5000 or write Hewitt Associates, 100 Half Day Road, Lincolnshire, IL 60069.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.