Tuition assistance in the work place and its effects on retention Coursework - 1

Tuition assistance in the work place and its effects on retention - Coursework Example ), most organizations focus on employees’ growth that takes diverse forms of education including training initiatives other than leadership training; cross-functional training; management training; and development training. However, the survey revealed that three of the least used employee development programs were job sharing, official professional mentoring programs, and job alternations. Tuition assistance programs are said to have numerous benefits like tuition satisfaction, improvement of working environment, effective recruitment tools, reduced turnover and increased loyalty to the firm one is working. According to Jacobs (2011), employees’ turnover implies the rate of employees entering and leaving a firm within the time span of one year. In the wake of a recovering economy after the 2008 economic recession, employers are experiencing high employee turnover rates. These turnover issues are beyond what employers could have dealt with in the past when recession forced most of them into downsizing and restructuring. In this regard, turnover rates experienced by most employers currently are way above what most employers consistently deal with. For now, most employers hope that the current employees’ turnover outburst is a onetime issue that will go away with the turning around of the economy. Based on natural wisdom, no turnover rate is perfect especially since good turnover for one firm could be bad for another. In addition, it is hard to define bad turnover and good turnover since different firms in different industries have their own rates. Turnover could vary within industries and depend on geography. In this case, turnover rates are just an abstract number whose value evaluated relative to other facts and numbers like unemployment rates, and local and national politics amongst other. The crucial aspect that employers need to understand in evaluating turnover is the impact arising from both internal and external factors and develops the best way to