Saving on School: How Your Employer Can Support Your Education
Hey there! You know, usually we pay for our education with student loans, grants, scholarships or straight from our pockets. But guess what? There’s actually more ways to finance your education. Some companies offer educational assistance programs and can help lighten your education cost burden.
Why would your employer help pay for your education? Well, sometimes, a company may help fund your degree, course credits, or training program to boost your professional ability, making it beneficial for them in the long run. The great news is that this form of assistance often isn’t taxed, given the right conditions.
So how can you find out if your employer provides this benefit? Start with the employee handbook to see if there’s any mention of employee training or related benefits. Remember, each company is different and the training support they offer varies.
Some companies might have a clear policy about funding employee training, including things like course fee reimbursement. On the other hand, some companies might state upfront that they don’t pay for extra training for their employees.
If there’s no clear guideline, you could do a little digging yourself. Try to find out if the company has previously paid for employee training. Ask around and get to know the circumstances of the last sponsored training. Perhaps it was necessary for a promotion or it was company-sanctioned.
Also, explore external resources that could potentially be sponsored by your company. Courses like the PRINCE2 Foundation and Practitioner Certification Training, or other self-improvement courses can be a big boost in your career growth.
What if your company is open to funding training? Then, it’s on you to convince them. Make a solid case by specifying course details like the curriculum, duration, deadline, and cost. If the training is offsite, don’t forget to consider travel and accommodation expenses.
Your company will want to ensure they’re getting value for their money. So, be prepared with alternative options if your initial course doesn’t align with your company’s goals. Demonstrating flexibility is a great way to show that you’re looking for the best deal for both you and the company.
Remember to highlight how the training will benefit not just you, but the company in the long run. Show that the new skills you acquire can make you more productive and increase your responsibility within the company. Plus, some countries even offer tax credits for companies providing employee training. Now that’s a win-win!
Once your plan is set, it’s up to the folks at the management level to say yes or no. Throughout this process, stress on how this training will make you a better asset to the company. Even if they say no this time, don’t get disheartened. You’ve opened up the conversation and can always try again later!
Stay hopeful and remember, it’s the employees that make a company great!