How tuition assistance can transform your workforceMore than two-thirds of employers today are struggling to find qualified workers , and hiring strategies alone are not enough to fill vacancies and enable growth. As knowledge work positions continue to grow, critical skills can become outdated in as little as five years. To maintain a competitive workforce, more employers are turning to education benefit programs to solve their talent challenges by strategically developing employees with they require.
Employer tuition assistance is a powerful talent strategy that provides motivated employees with a path to skill and career advancement. With constructive guidance and financial aid, promising workers can continue their education, developing skills aligned with both their professional ambitions their employer’s talent management goals. In addition to helping retain skilled employees, tuition assistance and workforce development programs are effective at recruiting new hires, as over two-thirds of Millennials value learning over salary.
Employer tuition assistance from Bright Horizons
Bright Horizons has been a pioneer in employee benefits programs since 1986. With unparalleled expertise in the industry, we help to establish employer tuition assistance programs that strategically align the goals of employees with the skill and talent needs of your organization. Our signature EdAssist Solutions can help you to:
• Attract top hires with a workplace culture that supports career development.
• Relieve financial stress and increase employee engagement.
• Fulfill talent needs by helping workers to develop essential skills.
• Increase retention with long-term support for employees’ career advancement.
• Demonstrate ROI of programs with clear and immediate reporting on participation and retention.
• Develop industry-specific programs such as tuition reimbursement for nursing.
Key features of employer tuition assistance
The features of our employer tuition assistance programs include:
• Customized program design. Our EdAssist Solutions align tuition assistance policies and incentives with the specific talent objectives of your organization. By pairing your strategic goals with expert guidance and process automation, we help make education assistance an engine for attracting, engaging, and retaining the type of talent that is vital to success.
• Personalized employee advising. Our expert coaches provide one-on-one advising to walk employees through their educational options, guiding them to decisions that meet their goals and their employers’ needs for skill development.
• Individual education plans. Participating employees get individualized plans that minimize the time and expense required to advance their education and development skills.
• Exclusive discounts. We connect your employees to more than 220 accredited schools offering tuition reductions and waived fees.
• Oversight and analytics. Detailed reports on employee participation provide confirmation that employer tuition assistance programs are attracting the right talent and developing the right skills.
Student loan repayment programs
Along with tuition assistance programs, Bright Horizons can help to establish student loan repayment benefits that attract and retain top talent. Student loans weigh heavily on employees today, hindering performance and impacting financial well-being. Student loan repayment programs are highly attractive to workers – 84% of millennials would strongly consider a job with student loan assistance over one without. Like employer tuition assistance and employee wellness programs benefits, loan repayment programs are an essential part of a strategic approach to talent management.
Bright Horizons is the industry’s longest-running student loan benefits provider. Our employer student loan repayment program provides a structured path to financial wellness, drawing on 30+ years of expertise. Highlights include:
• Flexible design: Our configurable platform automates rules based on your business and talent management goals. We’ll help you determine enrollment criteria, with options for a global roll-out or a targeted population, to maximize the impact on your workforce.
• Financial wellness coaching: Our team of student debt experts provides reliable and impartial guidance on all the options available for managing student debt. In one-on-one meetings, advisors help craft student loan repayment plans tailored to each individual.
• Education benefit platform: Our employee-centric platform provides an efficient and simplified user experience for managing employer tuition assistance and student loan repayment programs.