Employee sponsorship motivates your staff
Employer sponsorship of staff on professional degrees or other work-focused training courses is an effective way of providing an employee incentive. By offering professional development opportunities in the workplace, employee sponsorship is not only a ready-made method of motivating staff, it also enhances business performance.In the UK, 75% of FTSE 100 companies are sponsoring, or have sponsored training on Open University distance learning courses and qualifications. They do this because they know that their staff on sponsored training will:
- receive the most up-to-date business information and thinking
- continue working while studying and apply what they learn immediately
- acquire valuable skills such as time management, clear communication, teamworking and the ability to motivate themselves and others.
Employers can sponsor their staff in a variety of ways. Some organisations provide full financial assistance from the outset. Other organisations offer to pay for the course retrospectively on successful completion and in some cases the financial contribution is shared between the employer and employee.
|
Examples: Organisation A: Sponsors its employee for the entire cost of the course by paying upfront. Organisation B: Reimburses its employee (sometimes upon successful completion). Organisation C: Shares the cost of the course with its employee. Organisation D: Contributes to its employee’s government loan* repayments (potentially for as long as the employee is employed with the organisation). 1Applies to students resident in England, subject to qualification criteria. Click here for more information about fees and funding.
|
Staff who may be covering some or all of the cost of their study also have the option of the Open University Budget Student Account (OUBSA). Visit the OUBSA pages for more information
The new higher education funding scheme brings a number of benefits and options to employers looking to support their employees with their study, such as:
- lower training and development budgets
- longevity of service and staff loyalty
- the possibility of promoting your organisation’s chosen repayment method as an integrated remuneration package for both existing staff and new recruits, therefore potentially preserving salary budgets
- providing contributions towards an employee’s student loan as part of your organisation’s employee learning allowance
- the flexibility of raising or decreasing the organisation’s contribution when the course is in flight to take account of employee or organisational performance measures
For more information on fees and funding in your nation and the eligibility of your staff for the government loan, visit our fees and funding 2012 pages
Found this useful? You might be interested in...
| Why the OU? | Professional Courses | Higher Education Accreditation |