MILR Students Investigate Retaining High-Potential Employees Pursuing MBA Degrees
Surveys show that 78% of companies include tuition reimbursement as a part of their benefits offerings compared to 0% who offer to pay-off existing student loans. These statistics alone shed light on why a growing number of workers are deciding to pursue an educational leave of absence through their company when pursuing their education. Yet despite this continued relationship with their organization, employees often leave the organization upon receiving their MBA, resulting in losses of talent and money for the company. This practice is especially prevalent in employees who receive only partial tuition assistance from their employer while pursuing their MBA—meaning they still have substantial student loan debt to pay off following graduation.
The purpose of this article is to two-fold. First, it describes why employees pursing an MBA degree during their educational leave of absence are so susceptible to switching companies after graduating. Second, this article discusses strategies companies can use to increase retention rates, thereby raising their return on investment for tuition assistance programs.
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