Why Would Your Boss Pay For Your Education?

Why would a company help you pay your way through college? Many students complain about having to pay for their tuition, so why would an employer volunteer to cover that cost for them?
Well, employers are looking to have highly skilled and intelligent workers on their staff, so getting them more educated makes sense, even if the up-front cost is a large sum of money. But what is stopping people from simply leaving a company once they have gotten their degree? The process of getting a degree is a long one, especially when you’re only going part-time. It could take upwards of 6 years to get a bachelor’s degree, especially if the employee has had little to no college experience.

Many companies have people sign contracts that guarantee that the employees will stay with the company for a while so that the company can reap some of the benefits of giving their employees an education. Allowing employees the opportunity to get a higher education also gives the employees a stronger moral. If you are an employer at a retail-type job and your employees feel that you care enough about them to help pay for their education, they are more likely to deal with unpleasant customers and stay with the company. Having a generally more happy crew also keeps the customers coming back to their store as opposed to a competitor.

Do you think that it is wise for companies to help pay for their employees’ education? Would you be more willing to work for a company if they helped you get through college?


Sources:

Comments

  1. AustinApril 17, 2019 at 8:12 PM

    I think the process of paying for your employees degree is very much an investment. A waited result with an initial input. With all investments, there exists the likelihood that the return may not equate the input. However, human behavior plays a lot into this investment since employees will have gratification and loyalty to the company when it provided them foundations to a better career pathway, since higher job opportunities already exists within the company, the employee will likely stay with the company and return the same, if not more what they companies had inputed for tuition.

    ReplyDelete
  2. AustinApril 17, 2019 at 8:15 PM

    Another thing that is worthy to point out is that not everyone will have this opportunity. A maximizing firm will likely look for workers who have shown potential and have a record of good behavior within the company. For companies who offers these type of opportunities, they will have a screening process and few members will be selected.

    ReplyDelete
  3. AnonymousApril 20, 2019 at 7:57 AM

    I agree with Austin in the sense that not everybody would have this kind of opportunity. You kind of have to ask yourself what incentive does that company have to pay for somebody's college and invest in them in that way and what benefits it would provide both them and the student.

    ReplyDelete

Post a Comment

Popular posts from this blog

The Cost of Inelastic Goods

Image
Many goods that are inelastic in terms of demand are ones that are essential or, in other words, necessary to one's self. There are several examples: basic foods, gasoline, or even medicine. I was interested in how producers can manipulate the prices of these goods and how the total revenue can change over time because those goods are inelastic. The first example I thought of was insulin. Considered inelastic because, without it, those who are diabetic might physically suffer, I looked at the price trends in the past couple of years. Just as I predicted, the price has been rising dramatically in the past decade or so as producers are taking advantage of the consumers' essential need for this good. There are about 7.4 million Americans that use insulin and many struggle to pay the costs of this increasingly expensive drug. So, while rising prices benefit insulin manufacturers, those same prices come at a serious cost for patients as the demand for insulin is inelastic. Other...
Read more

The Economics and Psychology of Gambling

Image
As gambling around the world continues to increase, governments are starting to see these often self-destructive habits as a way to get money from their residents. Gambling has been seen as immoral and manipulative on the part of casinos, as well as pitiful on the parts of the people that gamble all their money away. It is seen as immoral and a “lazy way” to make money that isn’t even assured to get you anything. So what keeps bringing people back to the card table or slot machine? There are many theories about why someone would continuously gamble any money that they make to the point of landing themselves in debt. In many cases, the gamiling becomes an addiction, though many professionals have reservations on calling it that, that gets increasingly hard to kick. It is irrational for someone to continuously lose money and keep going back only to lose more. Or is it? The utility that some get out of gambling may feel like spending the money is worth it. As far as recreational ...
Read more

The Hidden Monopolies of the World

 Monopolies are all around us in the world, and not all of them are  obvious on the surface level like Google and Facebook. For example, you might be searching for hotel rooms and browse multiple "competing" sites like Travelocity, Trivago, or Hotel.com. What you most likely do not know however, is that all three websites are actually all owned by the same company; Expedia group. This illusion of free choice is used to hide the fact that Expedia essentially hold a monopoly over the industry and all hotel bookings actually go through them. These fake competitors which are all owned by Expedia Group controls 75% of the US online travel agency industry, Similarly, apple fans and Microsoft fans stubbornly stick to their respective brands of computers; not knowing that the laptops all come from the same Chinese manufacturer. Throughout all types of industries such as the ones listed earlier and others such as smartphones, supermarkets, beer, and even sunglasses, hidden parent co...
Read more