Posted May 07, 2012 by

Fewer Employers Contributing to the Costs of Continuing Education

Depending on what career path you choose, once you get a job, it may be necessary to continue your education.  However, don’t necessarily count on your potential employer to pay for this expense.

As businesses reinstate some of the employee perks lost during the recession, one doesn’t appear to have made a comeback: paying for continuing education. Twenty-six percent of chief financial officers (CFOs) interviewed for a Robert Half Finance & Accounting survey said their companies offer staff full or partial reimbursement for the education units required to maintain professional certifications. This is down significantly from six years ago when nearly half (46 percent) of executives said they cover these costs.

CFOs were asked, “Does your company reimburse employees for the continuing education units needed to maintain their professional designations, such as the certified public accountant (CPA) or certified management accountant (CMA)?” Their responses:

2012 2006
            Yes, full reimbursement 5% 29%
            Yes, partial reimbursement 21% 17%
            No reimbursement provided 73% 50%
            Don’t know 0% 4%
99%* 100%
            *Responses do not total 100 percent due to rounding.

 

“As the job market strengthens, it becomes more important for companies to offer benefits that help employees advance their careers,” said Max Mesmer, chairman and CEO of Robert Half International and author of Human Resources Kit For Dummies®, 2nd edition. “A robust professional development program is an attractive incentive for talent recruitment and retention.”

Beyond retention and recruiting, Mesmer noted that supporting ongoing learning can help businesses develop a more skilled workforce. “Employees aren’t the only beneficiaries of continuing education,” he said. “Companies benefit from developing a workforce that is equipped to meet evolving business needs.”

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Posted in Employers, Recruitment Strategies, Research, Retention Strategies | Tagged Tagged , , ,