July 30, 2014
We are reviewing our voluntary education-assistance program, which presently provides up to $2,500 to eligible employees. For courses that cost more, employees can apply for an exemption, which must be approved by the employee’s VP and our VP of human resources. I have heard of some corporations that require a "service return contract" that binds employees to the company for a specified period once a company-paid college degree is earned. What are other companies requesting, aside from these contracts, to get a better return on investment for offering this monetary education assistance? How do we make sure we don’t pay for somebody’s education only to watch them jump ship?