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Back to School: Educating Your Workforce

By Sonjui L. Kumar Email By Sonjui L. Kumar
September 2012
Back to School: Educating Your Workforce

I was in the second year of my first job after graduating from college when I decided to go to law school. Much to my surprise, I was informed by my supervisor that not only would the insurance company I worked for pay for tuition and books, they would also give me time off to study during the semester and eventually for the bar exam. I no longer remember how much that first employer contributed to my 401(k) plan but I will always remember the tuition reimbursement they provided. As we all strive to retain our most talented employees, providing continuing education benefits is a good start. Even if you have been approached by a particular employee who has decided to go back to school, it’s important—like any other benefits plan—to think through the policy and put it in writing before implementing it on a company-wide basis.

The advantages of offering continuing education are many:

There are, of course, some disadvantages to providing this type of benefit:

In order to establish an effective continuing education policy, make sure you consider the following issues and factors:

Having a better trained and more loyal workforce is certainly one of the main benefits of a good continuing education policy. Companies should consider the employees’ and the company’s needs, along with the long-term impact of such a policy, before putting it in place.

[Business Insights is hosted by the Law Firm of Kumar, Prabhu, Patel & Banerjee, LLC. Sonjui L. Kumar is a corporate, transactional attorney and a founding partner of KPPB Law. She primarily focuses on serving as general counsel to privately held companies assisting them with all legal matters, including corporate governance, contracts, shareholder matters, mergers, and acquisitions. Disclaimer: This article is for general information purposes only, and does not constitute legal, tax, or other professional advice.]

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