{"id":7447,"date":"2018-09-11T11:26:28","date_gmt":"2018-09-11T15:26:28","guid":{"rendered":"https:\/\/blog.brainstation.io\/?p=7447"},"modified":"2020-05-12T13:50:09","modified_gmt":"2020-05-12T17:50:09","slug":"how-to-get-your-employer-to-pay-for-digital-skills-training","status":"publish","type":"post","link":"https:\/\/brainstation.io\/blog\/how-to-get-your-employer-to-pay-for-digital-skills-training","title":{"rendered":"How to Get Your Employer to Pay for Digital Skills Training"},"content":{"rendered":"

By now, most tech professionals know that re-training and up-skilling is a must to stay ahead of innovation and an ever-shifting job market.<\/span><\/p>\n

But if the cost of a certification course or digital skills training is holding you back, why not see if your employer will foot the bill? <\/span><\/p>\n

We\u2019ve written about how <\/span>digital skills training can fight employee turnover<\/span><\/a>, and increasingly, companies are setting aside room in their budgets for staff training and re-education. If your boss still needs some convincing, here are some points that might help persuade them to invest in you.<\/span><\/p>\n

Other Companies are Reaping the Benefits<\/b><\/p>\n

Companies around the world are now encouraging and assisting employees to continue their education.<\/span><\/p>\n

A 2018 survey from <\/span>World at Work<\/span> found that 92 percent of responding organizations offered programs supporting classroom learning, while 85 percent offered some form of tuition reimbursement. <\/span><\/p>\n

There also seems to be a correlation between investing in education and overall organizational success. According to a 2018 <\/span>digital trends study<\/span> conducted by Adobe and Econsultancy, 45 percent of \u201ctop-performing\u201d companies pledged to invest in digital skills and education, while among lower-performing companies, the number was only 23 percent. <\/span><\/p>\n

A compelling case example is Discover Financial Services. As explored in a 2016 <\/span>Lumina Foundation study<\/span>, Discover provided employees $7.4 million in tuition reimbursement from 2010 to 2013. The study found that the program produced an overall 144 percent ROI as a result of \u201cavoided talent management costs\u201d such as higher rates of promotion, transfers and retention, and lower rates of absenteeism.<\/span><\/p>\n

Further, employees who participated in the program received average annual wage increases that were at least 41 percent higher than non-participating employees. Overall, Discover saved $10.9 million.<\/span><\/p>\n

The program was so successful, Discover chose to expand eligibility in 2017 to its newest hires. <\/span><\/p>\n

You\u2019ll be a Better \u2013 and Happier \u2013 Employee<\/b><\/p>\n

Of course, upgrading your skillset and updating your education will make you a more valuable employee. A <\/span>Destiny Solutions poll<\/span> of 200 North American employers found that 70 percent of leaders said employees needed continuous learning simply to keep pace with their jobs.<\/span><\/p>\n

But it\u2019s not just the new skills and competencies that will make you more effective. The Society for Human Resource Management\u2019s <\/span>2017 Employee Job Satisfaction and Engagement survey<\/span> found that 43 percent of workers ranked their organization\u2019s commitment to professional development as \u201cvery important.\u201d And it stands to reason that happy employees will also be more loyal and perform better on the job.<\/span><\/p>\n

As just one example, fast-casual chain Chipotle expanded its long-established education benefits program with a new credit-for-training program in July 2016. Five months later, Chipotle had an <\/span>89 percent retention rate<\/span> among employees who utilized the program \u2013 nearly twice the rate of those who didn\u2019t. Participants were also twice as likely as non-participants to be promoted.<\/span><\/p>\n

\u201cA year into the program, we are hearing tremendous feedback from our employees and seeing strong results in terms of enrollment, retention, and internal promotions among employees who are participating in the program,\u201d said Steve Ells, Chipotle\u2019s Founder, Chairman, and CEO.<\/span><\/p>\n

They Can Leverage Tax Benefits and Incentives<\/b><\/p>\n

As much as a supportive organization will see the benefit in emboldening employees with education, it never hurts to offer a reminder of the financial upside.<\/span><\/p>\n

In the United States, there are <\/span>extensive tax incentives<\/span><\/a> for employers who want to help their employees re-educate.<\/span><\/p>\n

When an employer pays an employee\u2019s tuition costs \u2013 as well as books, equipment, fees, and supplies \u2013 the amount is completely deductible as a business expense as long as it\u2019s job-related. Even if it\u2019s not job-related, businesses can deduct up to $5,250 per year per employee as long as it has an educational assistance program in place. The program does need to meet a few requirements, including one that specifies that it can\u2019t favor highly paid employees.<\/span><\/p>\n

As an employee, there are other educational credits that can help you. If you\u2019re unsure which credits you might be eligible for, try the IRS\u2019s handy <\/span>interactive tax assistant<\/span><\/a> tool to see which credits you might be able to claim, including the American Opportunity Tax Credit, the Lifetime Learning Credit, and tuition and fees deduction.<\/span><\/p>\n

In Canada, meanwhile, the <\/span>Canada Job Grant<\/span><\/a> offers funding toward the cost of training, with the government shouldering two-thirds of the cost of an employee\u2019s training up to a maximum of $10,000 per grant. In some provinces \u2013 including British Columbia \u2013 the government covers an even greater percentage of the cost of training.<\/span><\/p>\n

Both the Employer and Employee Can See Results \u2013 Fast<\/b><\/p>\n

It\u2019s understandable that an organization might be wary of supporting employees through a lengthy degree program. But increasingly, there are digital skills training companies and bootcamps that can seriously upgrade your skills in a short period of time with a flexible array of study options.<\/span><\/p>\n

BrainStation, for instance, offers certificate courses in five disciplines: <\/span>data<\/span><\/a>, <\/span>design<\/span><\/a>, <\/span>development<\/span><\/a>, <\/span>digital marketing<\/a>,\u00a0<\/span>and <\/span>product management<\/span><\/a>.<\/span><\/p>\n

It\u2019s the Right Thing to Do<\/b><\/p>\n

Beyond the myriad financial and performance benefits, some employers are coming around to the idea that helping employees pursue an education is simply good for society.<\/span><\/p>\n

\u201cFor the U.S. to remain a leader in the knowledge economy, all providers of education beyond high school, especially employers, must help more Americans earn post-secondary credentials,\u201d said <\/span>John Engler<\/span><\/a>, president of the Business Roundtable, a group of CEOs of major U.S. corporations.<\/span><\/p>\n

\u201cEmployers can make an outsized impact through providing tuition support.\u201d<\/span><\/p>\n

Find out more about corporate training options<\/a> at BrainStation.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

If your employer needs some convincing, here are some points that might help persuade them to invest in you.<\/p>\n","protected":false},"author":7,"featured_media":7448,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[533,70],"tags":[563,426,429,562,442],"yoast_head":"\nHow to Get Your Employer to Pay for Digital Skills Training | BrainStation\u00ae Blog<\/title>\n<meta name=\"description\" content=\"Looking to level up your skills but don't have the resources to pay for a certification course? 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