Isaac Cardona
Dillard’s
1638 Pine Blvd.
Irving, Texas 75061-8546
November 28, 2011
Tuition Reimbursement
1638 Pine Blvd.
Irving, Texas 75061-8546
Dear Tuition Reimbursement:
As a very profitable year comes to an end and the company looks to expand employee benefits, I want to propose that, tuition reimbursement for the employees with a bachelor's degree in business and communication could be implemented. The benefits to the company would include, increased retention of employees, earning potential increase, careers employees with a degree and many new professional opportunities the degree offers to employees.
A study conducted by Spherion Employment Agency (2011) reveals that tuition reimbursement programs can double the length of an employee’s employment. Companies without a program had an average turnover rate of two to three years, while those who offered tuition assistance saw the average employment period lengthen to five or more years. Tuition reimbursement fosters loyalty to the employer and increases job satisfaction. In addition to strengthening the retention rate, tuition reimbursement programs allow employers to promote within the company rather than hiring outsiders. Hiring from within the company increases worker morale and loyalty. It also decreases the costs of hiring and training new candidates. The longer the employees are with the company, the more experienced and efficient they become at their jobs. It also helps the company with training costs and time off seasoned employees to help train the new candidates. Employee retention is also very beneficial when similar companies are out to hire employees from similar fields to obtain the inside scoop on the company’s inner workings and get ideas to better compete with them. Employee retention eliminates infiltration into the company’s employees and the years of training the company has