How Investing in Education Benefits Businesses
If there was a benefit you could offer your employees leading to decreased talent management costs, increased employee retention, and had a 144% ROI, would your company offer it?
A study conducted by Accenture, a global professional services company, found Discover Financial Services earned $1.44 for every dollar spent on tuition assistance programs for their employees. The cost savings mostly came from avoided talent management and training costs. During the study, Discover saw higher rates of employee retention and promotion as well as lower rates of absenteeism.
The Discover case adds to the growing list of studies confirming that offering employees tuition assistance programs not only helps the company’s bottom line, but also increases employee loyalty and community involvement.