New Research: Employee Education Improves Talent Outcomes

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Brave'a Hassell Associate Editor Workforce magazine

New Research: Employee Educa6on Improves Talent Outcomes

March 30, 2016

Speakers

Lucy English Managing Director of Institutional Research §  20+ years researching the efficacy of

corporate programs

Alan Robins Director of Client Services §  20+ years helping large employers improve

HR processes

© 2016 Bright Horizons Family Solutions, LLC

§  How does your organization support external employee education? □ Passive – offering programs for

those who are interested □ Active – encouraging participation □ Very active – education is

encouraged and is central to development plans

Poll #1

© 2016 Bright Horizons Family Solutions, LLC 10

Our Agenda


How Does Education Impact Talent Metrics?

Field Your Questions

Review the Data

Share Best Practices

11

§  Education assistance provider: –  Tuition & scholarship programs –  Student loan repayment programs

§  Strategic approach: –  Policy recommendations that align education programs to talent goals –  1:1 advising that helps employees get the most from your investments

§  Trusted by large employers: –  150 enterprise clients –  $500 million in tuition and loan spend managed

EdAssist Overview

© 2016 Bright Horizons Family Solutions, LLC 12

HOW DOES EDUCATION IMPACT TALENT METRICS?

§  Regulatory and Mandated –  Imposed upon the employee

§  Employee-driven –  Initiated by the employee

Types of Employee Education

© 2016 Bright Horizons Family Solutions LLC 14

Employee-driven education positively impacts four talent metrics:

Working Hypothesis

1. Recruitment 3. Development

2. Engagement 4. Retention


§  Two national, cross industry studies –  2015 Tuition Program survey

•  4,400 responses; 30+ organizations –  2015 Dream Company survey

•  4,000+ responses §  Company-specific program analysis §  Other independent industry research

Primary Data Sources

16 © 2016 Bright Horizons Family Solutions LLC

§  What is your top talent goal for education programs? □ Recruitment □ Engagement □ Development □ Retention

Poll #2

17 © 2016 Bright Horizons Family Solutions, LLC

The Positive Impacts of Employee Education

1.RECRUIT

Say access to a tuition program was important in their decision to join

the organization.

A Decision Factor

79%


Source: Tuition Program survey, 2015

Rate tuition assistance as one of the best benefits offered

A Highly Valued Program

65%



Matches the Expectations of Younger Employees


Would pick a job with strong development potential over one with regular pay raises 60%

Have already taken classes while working 54%

62% Always want to be learning new skills

Source: EdAssist Millennials Study, 2015

§  Promote your program

Best Practices


§  Put the spotlight on your existing education programs

§  Understand your target market §  Diversify learning options

Best Practices: Recruitment



2. ENGAGE

0% 10% 20% 30% 40% 50% 60% 70% 80%

My job inspires me

I will be able to achieve my long-term career goals at my organization

I feel ready to move to the next level in my job

My organization provides me with opportunities to learn and grow

Has Used Or Is Using Hasn’t Used Tuition Program

Consistently Higher Scores


Source: Dream Company survey, 2015

§  Messages from senior executives marking completion of educational programs

§  Formal ceremony celebrating employees §  Record education attainment in

talent profile §  Ground external learning in daily work

Best Practices: Engagement



3. DEVELOP

Participant Feedback


Say the program made them more effective at work 83%

Say an advisor helped them better align coursework with career goals 48%

64% Have benefited professionally within the first 12 months of graduation


Positive Impact on Potential


Source: Bright Horizons 9-block analysis

26%

33%

19%

42%

25%

11%

Bottom Ratings (6-9)

Top Ratings (1-4)

High Potentials (1-2)

All employees Used tuition assistance

§  In a review of 9-block ratings companywide, tuition participants were 50% more likely to be considered HiPo’s

Positive Impact on Performance


10%

68%

12% 7%

71%

14% 5%

75%

16%

0% 10% 20% 30% 40% 50% 60% 70% 80%

Developing Performing Leading

Performance Ratings

All Employees Tuition Participants Tuition Graduates

Source: Verizon Wireless tuition assistance program analysis

More Likely to Advance


13%

26%

33%

0%

5%

10%

15%

20%

25%

30%

35%

Internal Moves

All Employees Tuition Participants Tuition Graduates


Best Practices: Development


Before education •  Include educational programs in performance reviews and

development plans •  Provide advising support to help employees choose education

options aligned with career objectives •  Enable employees to choose non-degree programs also

After education •  Ensure talent database/HRIS is automatically updated •  Encourage leaders/talent groups to search out skills

throughout the organization, not just in their own team


4. RETAIN

Employee Perceptions

81% Say they are more likely to stay at their organization

77% Have an improved opinion of their employer



Employer Outcomes


19%

8%

0%

5%

10%

15%

20%

Termination Rates

All Employees Tuition Participants


Stanford Study


Using case study and cross-section analyses… this paper finds that positive spending on tuition reimbursement has a large negative effect on employee turnover…

http://www-siepr.stanford.edu/RePEc/sip/06-025.pdf

Discussion Paper No. 06-25

Education Has Broad Appeal


Ages of Tuition Program

Participants

12%

12%

15%

16%

19%

26%

0% 5% 10% 15% 20% 25% 30%

51 or older

46-50 years

41-45 years

36-40 years

31-35 years

30 or younger


§  Provide options for all career stages §  Use tuition program as a source of talent §  Set up policies that encourage retention §  Offer student loan support

Best Practices: Retention


CLOSING THOUGHTS

Education’s Virtuous Cycle


With the right

approach, education can continually renew

an employee’s commitment to your business

Employer promotes value of

education

Employee initiates learning

Employee completes

learning, gets recognition

Employee elevates

performance

RECRUIT

ENGAGE

DEVELOP

RETAIN

Takeaways


Employer promotes value of

education

Employee initiates learning

Employee completes

learning, gets recognition

Employee elevates

performance

RECRUIT

ENGAGE

DEVELOP

RETAIN

What You Can Do: Encourage employee-driven education

Support diverse programs

Manage them centrally

Link education attainment with talent mgmt systems

Measure results and celebrate successes

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New Research: Employee Education Improves Talent Outcomes

Recruiting & HR

Transcript of New Research: Employee Education Improves Talent Outcomes