Educational Leave of Absence: Retaining High-Potential Employees Pursuing MBA Degrees
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Meyers, Ashley; Edwards, Sarah
[Excerpt] Surveys show that 78% of companies include tuition reimbursement as a part of their benefits offerings compared to 0% who offer to pay-off existing student loans. These statistics alone shed light on why a growing number of workers are deciding to pursue an educational leave of absence through their company when pursuing their education. Why would an employee leave their work if they know their future employer will not pay off their student loan debt, while at the same time their sponsoring company will cover some of the costs, have a position waiting for them, and continue to provide health coverage while they are in school full-time? Yet despite this continued relationship with their organization, employees often leave the organization upon receiving their MBA, resulting in losses of talent and money for the company. This practice is especially prevalent in employees who receive only partial tuition assistance from their employer while pursuing their MBA—meaning they still have substantial student loan debt to pay off following graduation.
HR Review; Human Resources; Human Capital; Benefits; Education; Turnover; Retention; Tuition Assistance; MBA
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