Top 5 Best Practices for Education Benefits Policies

For today’s talent managers, education benefit policies should be viewed as more than just documents—they're strategic tools for successful organizations and a simple way to retain the best employees. To stay ahead, you must evolve these policies continuously. Let's explore actionable steps to create policies that drive growth and inclusivity as well as support career path development.

1. Design your policy to draw employees in

Think of your policy as an employee engagement action plan. Gone are the days of dull, restrictive policies. Embrace a tone of empowerment. Define terms clearly to eliminate ambiguity and expedite approvals. 

In Practice: If “good standing” is one of your guidelines:

• Provide clear definitions of what good standing means
• Be transparent with each employee and their status
• Show them the specific steps they must take to achieve good standing

2. Liberate your learners

Immediate access equals empowerment. Remove needless restrictions on education types and scrap clawbacks. Say goodbye to time limitations and rigid accreditation requirements. Every employee, regardless of their position or background, should feel confident in utilizing their benefits.

In Practice: 

• Give employees access to education benefits on their first day of work
• Include access to funding for any kind of learning that applies to their job (examples include high school diplomas, degrees, professional certifications, bootcamps, etc.)

3. Showcase your commitment to equality and inclusion

Inclusive policies are non-negotiable. Extend benefits to all employees. Embrace diverse learning needs with non-degree opportunities. And yes, invest in employees on leave—they're part of the team too.

In Practice: 

• Make your benefits available to every employee from the mailroom to the boardroom
• If your budget doesn’t allow for a full slate of options for all employees, consider offering different education options to different groups of employees

4. Red tape, begone

Cut through bureaucracy. Simplify approvals and leverage tech for efficiency. Progressive companies that pay tuition use direct billing models to deliver payment directly to schools rather than reimbursing employees after they pay tuition out of pocket. This option removes financial barriers and can serve as an effective employee retention strategy. Streamlined processes mean swift access to benefits.

In Practice: 

• Get the right people involved and keep the number of approvers small—one person is ideal, two at the most
• Add direct billing as a funding option and seek out education providers who can accommodate it

5. Elevate and expand

Investment creates success. Scale your budgets as programs grow. Engage employees in their career journeys. Invest in employee education and improve employee engagement to retain your workforce. Foster a culture of growth by investing in the benefits of learning

In Practice: 

• Leaders at all levels should encourage career growth within the organization, providing pathways for employees to advance
• Formalize a process for managers to initiate regular career conversations with employees with an emphasis on how learning can help them grow
• To keep C-suite leaders informed on the strategic impact of education benefits and encourage continued investment, regularly pull data from your education benefits management platform that aligns with your organization's KPIs, demonstrating the tangible contributions of these benefits to your overall strategy and success
• Review budgets in other areas of the organization to allow for expanded education funding

In summary, education benefit policies must evolve alongside your workforce. They're living frameworks, not static documents. Think of your policy as the pulse of your education benefit program, not only signaling effectiveness but also its responsiveness and adaptability to changing needs and circumstances.

At Workforce Edge, we’re practicing what we preach and setting new standards for continuous policy improvement by offering regular, personalized consultations. Connect with us and give your policy the edge it needs to outshine the competition. Whether it's a simple word change or a complete overhaul, we’ll help you make your education benefits more modern and approachable.