The 5 Keys to an Extremely Effective Employee Tuition Assistance Program (TAP) Part 3
Impressive. The online revolution is making significant strides when it comes to the cost structure around taking basic college courses such as English composition, biology, accounting, business, physics, statistics, college algebra, calculus, and more. A company no longer has to pay premium prices for basic college course offerings; an employee doesn’t have to be left filling the gap between where their education assistance tuition dollars end and their financial obligations begins. In fact, taking courses through StraighterLine allows an employee to leave financial worries related to education behind, and allows them to focus on completing course work and meeting their own personal educational goals.
5- Take Regular Stock of TAP Success Measurements
Think offering a full spectrum of online college classes to your employees is beyond your current benefits budget or won’t make much of a difference in your current cost and use structure? Think again.
If one of the key metrics of a successful Tuition Assistance Program for your company is cost per credit hour by student, you are in luck. A way to significantly reduce the cost per credit hour is to work with low-cost college course providers like StraighterLine who offer, in addition to a $99 college course subscription program, an even higher value $999 Freshman Year of College, when measured on a per credit hour basis. With this program, your employees can enroll in and complete up to 10 required college courses for only $999.
Another key metric for employers with TAP programs is course completion rates and the percentage of employees using their employer’s tuition assistance program. There’s a big difference between reimbursing an employee to take a general education course to increase workplace effectiveness and offering an employee the opportunity to take a course that will increase effectiveness and be fully transferrable for college credit.
Offering online college courses that are fully transferrable for college credit is a win-win for an employer. The ability of an employee to work towards degree completion increases the personal incentive for the employee to participate in the educational program, which in turn engenders loyalty to your company. Students who successfully complete courses through StraighterLine can automatically transfer their course for college credits to partner colleges such as Western Governors University, Excelsior College, Albany State University, Capella University, American Intercontinental University, University of the Incarnate Word, Thomas Edison State College, or the more than 1500 other colleges that recognize ACE credit, in order to complete their degree.
You can make a big difference in your employees' lives and your company’s bottom line by investing in the education of your workforce. Education is the benefit that keeps on giving in terms of higher employee retention rates and a continually learning workforce. A continually evolving workforce helps keep your company competitive and adaptable. Fortunately for companies today, it’s easier than ever before to score high quality education benefits for your employees at extremely affordable rates. With online classes for college, your employee education assistance program can succeed at every level, from classroom, to boardroom; from employee to the overall goals of your company’s strategic plan.