The United States has a major problem with student loan debt. As of December 2016, the total amount of student loans was over one and a half-trillion dollars. This is an issue for students who have to work multiple jobs just to make their monthly payments and businesses that are losing talented workers due to the huge financial burdens they face from school. Benjy Grinberg discusses 10 ways companies can better morale by supporting education in order to create happier employees.
1. Educational Assistance Programs:
Companies can provide tuition reimbursement, scholarships, and stipends for employees to attend school. This helps keep workers from being burdened with huge student debt while also investing in their future success.
2. Tuition Reimbursement Program
A company may offer a maximum of $25,000 per year that an employee can use towards education expenses such as books or supplies. Employees have the opportunity to apply each semester for educational assistance funds which are determined by performance reviews and meeting deadlines. This program has led to more than 20% of our workforce enrolling in college courses within two years!
3. Graduate Degree Program
Some businesses also offer their workers the opportunity to pursue graduate degrees while still working full time, which greatly reduces student debt!
4. Educational Benefits Package:
Employers can partner with local schools and institutions by giving them discounts on services such as office space rental fees or using company resources during off-hours. These partnerships help build relationships within communities which is an important step towards personal growth outside of professional success.
5. Partnering With Colleges and Schools
Companies can partner with local schools by providing internships, mentorships, or even just donations. This is done not only for recruiting purposes but also helps build relationships within communities, beneficial to all parties involved. These partnerships are important because it gives workers opportunities they may have never had otherwise like visiting colleges for information sessions about their future career goals before deciding on one school right away.
6. Internship Program
A company may provide an internship program for experienced workers to gain experience in their field of choice before going back to school. This is beneficial because it allows them to explore the industry and understand the most important aspects of their career path while also getting paid!
7. Scholarships and Stipends
Another example would be offering higher grades on paychecks if they are maintaining a certain GPA. This helps encourage employees to do well in school and look for opportunities they may not have had before, like internships or research positions.
Another benefit is that it helps decrease cognitive dissonance by reducing the financial burden on students. Students with a heavy financial burden are more likely to quit school due to high-stress levels caused by concerns around money. This helps lead people down a positive path towards better emotional health! Even an additional $1000 scholarship can make a huge impact.
8. Donate To Local Schools
A company may donate money or resources such as office space or equipment to local schools, which helps enrich communities with new opportunities. These donations have improved morale by giving students hands-on experiences that allow them to see how real-life scenarios work out when given a chance. For example, one business donated computers and monitors from old offices into classrooms to learn programming without having access outside of school hours as many others do!
9. Volunteer At Schools
Employees can volunteer at their local schools by tutoring or providing mentorship to students during off-hours. Tutoring is shown to improve grades as well as provide greater success in life! These actions are a great way for employees to give back and make more meaningful connections with the community that offers so much support every day throughout our lives.
10. Employee Development Plan
Companies should have an employee development plan that helps employees grow in their position while balancing the need to further education. This will help develop skills they may not have had before and let them experiment with new things, leading to career advancement!
How These Steps Can Increase Company Morale
Offering tuition reimbursement, scholarships, and stipends for employees to attend school can help decrease student debt while investing in their own future success. This is beneficial because it leads to happier employees who are not burdened with huge student loans or thinking about how college will affect their future finances!
Educational benefits packages by partnering with local schools allow companies to create relationships within communities which helps grow personal and professional growth outside of just work successes. These partnerships are important because they give workers opportunities that may be out of reach otherwise, like visiting colleges for information sessions about career goals before deciding on one school right away. Internship programs provide experienced workers the opportunity to explore the industry and understand what aspects are most important for them so they can make better decisions about their careers.
These steps can increase company morale by allowing workers to pursue personal and professional growth with fewer worries about finances!
Businesses that support education can help reduce student debt while also investing in their employees future success, which leads to better employee morale. Steps including tuition reimbursement, scholarships or stipends for those attending school, and partnering with colleges locally, or even providing internships are great ways companies can improve worker happiness on a day-to-day basis. Companies who invest in education will see happier staff members who feel less burdened due to their debt or the fear of how college will affect their future.