Tuition Assistance Builds Employee Engagement | Edcor

Tuition Assistance Builds Employee Engagement

Employee engagement is important to business success. To put it another way: to succeed in business, develop employee engagement and help employees succeed. “Employees make decisions and take actions every day that can affect your workforce and organization,” states the Gallup meta-analysis of employee performance data.  Best practices that create positive employee decisions and actions benefit all stakeholders.

Actions and decisions of engaged employees create positive results for their employers. The Gallup study compared companies that are in the top quartile for employee engagement with companies in the bottom quartile. The study shows engaged employees delivered positive financial results. The bottom line for companies with the most engaged employees shows 14 percent greater productivity, 18 percent higher sales and 23 percent higher profitability. Engaged employees also mean an improved work culture. With engaged employees there is 81 percent lower absenteeism, 58 percent fewer work accidents, and 24 percent less turnover for organizations with high turnover and 59 percent less turnover for companies with low turnover.

Developing employee engagement is as easy as meeting a couple employee needs. First, employees want to know how their job relates to other jobs in the company and how it relates to achieving company goals. When people understand their part in achieving a goal, they are motivated to work toward goal achievement. Just as important as employee involvement, people want the opportunity to increase their skills.

People want to be able to challenge themselves and employee engagement increases when the challenge includes an opportunity for employees to develop their skills. A job is more fulfilling if people can face challenges and succeed, and develop their skills and career.
• 87 percent of millennials and 69 percent of non-millennials view development as important in their jobs. 
• 86 percent of millennials and 62 percent of non-millennials are more inclined to say at their current companies if they have access to training and development.

Multiple studies show how important it is for employers to support their employees’ need for growth and development. A Gallup report states, “Career growth opportunities in the top reason people give for changing jobs.”

The SABA 2017 State of Employee Engagement Survey states, the biggest lesson learned in its survey is that “in today’s modern world of work, employee demand for continuous professional development, accelerated career growth, and ‘always on’ engagement is only getting stronger.”

Developing employee engagement may be one of the most important steps companies can take to boost their recovery from the economic downturn caused by the coronavirus. Supporting employee development with tuition assistance is an effective way to ensure that employees have the skills necessary to adapt to new business practices. Employee development can also be part of involving employees in company goal setting and recovery. Company needs are changing during this uncertain time and employee development can be a solution to changing needs, increasing employee engagement in the process.

Tuition assistance helps increase employee engagement and motivation. With tuition assistance, companies acknowledge the value of their employees. They are showing that employees are important to reaching company goals, and that they are a worthy investment. This builds a foundation for employee engagement. Brian Anderson of BambooHR states, “The employees who are willing to engage with your organization need to know that your organization is willing to engage with their lives and provide appropriate support for all their motivational needs.”  And while TAP provides this positive feedback and increases employee engagement, it also develops a workforce of talented, skilled employees who want to work towards company goals.

By Kathleen Eischeid, Edcor Business Development Coordinator