Date post: | 22-Jan-2018 |
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Recruiting & HR |
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Lauren Dixon Associate Editor Chief Learning Officer magazine
Beyond Reimbursement: Educa6on Assistance as a Talent Management Tool
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Mark Ward VP and General Manager EdAssist
Beyond Reimbursement: Educa6on Assistance as a Talent Management Tool
Jessica Kaplan Director of OrganizaAonal Development Bright Horizons
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Presented by: Mark B. Ward General Manager & Vice President EdAssist
Presented by: Jessica Kaplan Director of Organizational Development Bright Horizons
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SPEAKERS
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
Mark Ward Vice President and General Manager, EdAssist § 20+ years in education management
Jessica Kaplan Director of Organizational Development, Bright Horizons § 15+ years in professional
development and higher education
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ABOUT EDASSIST
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
Transforming education assistance programs to maximize talent outcomes
§ Full service outsourcing – Tuition Reimbursement – Student Loan Repayment
§ End-to-end program support – Policy design & implementation – Automation, reporting & compliance – Employee advising
§ Trusted by large employers – Support education paths of 150,000
employees at 150+ organizations
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WHAT WE’RE DISCUSSING
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
1. Rethink Tuition Assistance
3. Develop and Deploy Talent
2. Attract Talent 4. Increase Engagement & Retention
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POLL QUESTION
How are you involved in your organization's education assistance program?
q I own and/or administer the program q I actively influence the program q I neither own nor influence (at this time) q We don’t have a education assistance program
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
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A COMMON BUT UNDERUSED INVESTMENT
*Source: SHRM 2015 Employee Benefits Survey
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
§ $10 billion spent per year § Offered by 77% of large employers* § A core benefit for 40 years § Highly valued by employees
A strategic investment, yet often a static and siloed program
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WHY IT MATTERS
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
Recruiting
• Recruiting costs outpace inflation*
• Getting harder to find the right skills & culture fit
Skill Gaps
• New jobs require more specialization
• Tech advances disrupt current roles
Higher Education
• New learning options increase choice
Tuition Costs
• Costs skyrocketing, and demand for degrees is on the rise
*Source: Bersin by Deloitte
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2. Develop and Deploy Talent
1. Attract Talent 3. Enhance Retention
START WITH GOALS IN MIND
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ESSENTIALS: RECRUITMENT
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
1. Increase access 2. Meet diverse
learning needs
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INCREASE ACCESS
§ Bring education assistance within reach – Reduce tenure
requirement – Offer guidance to
new hires – Minimize out of
pocket expenses – Negotiate savings
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
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DIVERSIVY OPTIONS
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
§ Expand the available learning options – Credit for competency – Shorter courses – For-credit & non-credit
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ESSENTIALS: DEVELOPMENT
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
1. Strategy drives policy 2. Accelerate opportunities 3. Integrate learning into
performance and succession
4. Track and use relevant data
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DEVELOPMENT STRATEGY SHOULD DRIVE POLICY
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
• Raise your reimbursement cap for that specific path to incent behavior
You have a shortage of a specific skill/position
• Provide access to advisors who can recommend lower-cost programs & use of available aid
High cost to acquire new and needed skills
• Find school(s) that can offer customized programming at reduced costs.
Your business requires a rare or unique skill
Talent Challenge Education Policy Change
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ACCELERATE OPPORTUNITIES
§ Communicate early § Include in existing on-
ramping programs § Create pathways for
advancement
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
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INTEGRATE LEARNING
§ Record education attainment
§ Connect learning to internal mobility
§ Ground external learning in daily work
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
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TRACK EDUCATION PROGRAM DATA
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
Answer key questions: § What programs are working? § Is the talent pool growing & in
the right way? § What is the ROI?
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ESSENTIALS: RETENTION
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
1. Engagement through learning
2. Recognize and retain 3. Offer student loan
support
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ENGAGEMENT THROUGH LEARNING
§ For upskilling: drive participants to specific job-related programs
§ For retaining: allow a wide range of coursework
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
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RECOGNIZE & RETAIN
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
§ Publicly celebrate employee achievements § Promote the value of tuition assistance § Set up policies that encourage retention
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INCORPORATE STUDENT LOANS
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
Loan debt is a top concern:
66% of today’s employees under the age of 40 have loan debt.
70% of new college grads average $30k in student debt.
73% have PUT OFF saving for retirement or other investments
50% of Millennials expect their employer to help fund future education
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TAKEAWAYS
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
§ Take advantage of what you have
§ Integrate your learning programs
§ Align education with your talent goals
#BHatWORK #BHatWORK
What’s more important to your employees – working in their dream job, or for their dream company? Join your HR, benefits, and L&D peers to discuss the shifting talent landscape and how to remain an employer of choice.
BRIGHTHORIZONS.COM/MIAMI2016
APRIL 12-15, 2016 Eden Roc Hotel l Miami, FL
© 2016 BRIGHT HORIZONS FAMILY SOLUTIONS LLC