Four Reasons Why Your Business Needs an Education-as-a-Benefit Program

In today’s competitive business landscape, companies that want to attract and retain top talent need more than just attractive salaries and standard perks. Employees increasingly seek comprehensive incentives that support their personal and professional growth—like education-as-a-benefit programs. 

Education benefits can enhance your company’s appeal while fostering a culture of continuous learning and development. In this post, I’ll explore four compelling reasons why your company should integrate education into your benefits package. 

What is Education-as-a-Benefit? 

Education-as-a-Benefit provides professional development opportunities and enhanced education to employees as part of their overall benefits package. Unlike other programs, the “benefit” is mutual—both the company and the employee gain from having a skilled workforce. Companies offering education-as-a-benefit focus on the ROI of maintaining a skilled and adaptable workforce. 

Where’s the Value in Education Benefit Programs? 

Here are four key reasons why companies should consider investing in an education-as-a-benefit program: 

1. Keeping Up With Changing Skill Dynamics 

The pace of change, especially with technology and AI, demands that workers acquire new skills faster than ever. Adaptability and continual learning must be nurtured as key competencies. Research from Deloitte shows that a skill’s lifespan has shrunk from 30 years to just 5 years. Structured, ongoing learning ensures that your talent evolves to fill emerging skill gaps. 

2. Attracting Top Talent 

Despite a slightly softening labor market, competition remains fierce for highly skilled workers. Attracting top talent requires more than strong compensation; it demands a holistic approach to total rewards. Offering education-as-a-benefit can be crucial for skilled workers when choosing employers. Some companies even pay for the education of employees’ families. 

3. Employee Retention and Promotion 

Retaining employees is vital for business success. When valuable employees leave, it results in knowledge gaps and productivity loss, plus the costs of recruiting, hiring and training new staff. Keeping employees satisfied, appropriately challenged and skilled is a financial win-win. Businesses can benefit from recruiting from within their own ranks, promoting employees with new skills that have a strong existing track record at the company. 

4. Adapting to Generational Shifts 

As millennials and Gen Zs comprise a larger portion of the workforce, their professional values are reshaping business practices. Research shows that millennials value career development, progression and training more than previous generations. Companies that invest in continuous learning for their employees can attract, develop and retain top talent effectively. 

Partner Up for Speed and Scale 

Why would you partner with an upskilling solution to accomplish your goals? 

Increasing Organizational Speed and Agility 

Direct relationships with institutions often can’t scale quickly enough to meet the diverse skill needs of most organizations. An upskilling partner can provide the breadth and depth needed, while offering visibility into program spend and success. Your L&D teams should focus on guiding employee pathways, not navigating the complexities of academia. 

Value Beyond a Catalog 

Managing your corporate education benefit in-house can be time-consuming and complex, making tracking spending difficult. An upskilling partner understands your specific needs, matches you with appropriate education providers, curates offerings, maintains internal platforms, handles payment processing and invoices and manages relationships with education providers. This reduces the administrative burden on your team and provides a comprehensive view of program progress and success. 

Bottom Line: It’s About Staying Competitive 

Investing in corporate education keeps your business relevant in times of change. Employee upskilling and reskilling can meet skills demands, attract top talent, boost retention and adapt to generational shifts in professional development values. By integrating education-as-a-benefit into your package, you ensure your business remains competitive and your workforce remains engaged and skilled.