Harvard Business Review Analytic Services Survey Highlights Missed Opportunities for Those Without Tuition Assistance Benefits
Yet, despite this agreement, the survey highlights an inherent paradox and an opportunity for employers to gain a competitive advantage. Eighty-five percent of the business leadership surveyed agree that the positive outcomes from offering tuition assistance benefits outweigh the costs of paying for employees’ education. Despite this,
“This survey confirms what we consistently hear from the employers we work with – that TA benefits are a critical retention and upskilling tool,” said Karl McDonnell, Chief Executive Officer of Strategic Education, Inc. “Yet, despite its value, its prioritization by employers varies significantly. There is tremendous opportunity for employers to evaluate and update this benefit so they meet the needs of both employees and the organization.”
The survey found several common reasons organizations offer TA benefits to their employee base. Among business leadership, their organizations’ most common, primary motivations for offering a program are to build the workforce skills needed for the future (
The business leadership surveyed also suggested a lack of measurement of TA benefits. When asked what key performance indicators their organization uses to measure success of the program, the most common performance indicators included impact on employee retention (
The HBR-AS survey found that respondents overwhelmingly recognize the potential value of TA benefits programs, for both the employer and the employees:
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89% agree that, for organizations in their industry, there is strategic value in offering TA benefits to employees. -
88% agree that an organization can make its employees feel more engaged at work by offering TA benefits. -
86% agree that their organization’s TA program is valuable for the organization.
Despite respondent agreement on the value of TA benefits, the survey found that certain barriers prevent organizations from offering them and employees from using them. Among respondents whose organizations do not have a TA benefits program,
“Like any benefit, tuition benefit programs need to evolve to meet shifting employee and workforce demands. This may mean offering more incentives and support to employees who want to use the benefit or partnering with a tuition benefit platform that makes enrollment and measurement seamless,” explained McDonnell. “To get the most out of this benefit, employers should commit to measuring the impact of the program on the organization, identifying what is working and what is not, and modifying as needed.”
To read the full results, visit: https://hbr.org/sponsored/2024/03/realizing-and-unlocking-the-strategic-value-of-tuition-assistance-benefits.
*In 2023, Strategic Education, Inc. sponsored Harvard Business Review Analytic Services to conduct a survey of 294 members of the HBR audience (
About Harvard Business Review
Harvard Business Review Analytic Services is an independent commercial research unit within Harvard Business Review Group, conducting research and comparative analysis on important management challenges and emerging business opportunities. Seeking to provide business intelligence and peer-group insight, each report is published based on the findings of original quantitative and/or qualitative research and analysis. Quantitative surveys are conducted with the HBR Advisory Council, HBR’s global research panel, and qualitative research is conducted with senior business executives and subject matter experts from within and beyond the Harvard Business Review author community.
About Strategic Education, Inc.
Strategic Education, Inc. (NASDAQ: STRA) (www.strategiceducation.com) is dedicated to helping advance economic mobility through higher education. We primarily serve working adult students globally through our core focus areas: 1)
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Elaine Kincel
202-557-4920
Media.relations@strategiced.com
Source: Strategic Education, Inc.