Looking for an employee benefit that delivers a big bang for the buck? Consider tuition reimbursement.
"If you invest in your employees, it comes back," says Michelle Lemmons-Poscente, 39, president and CEO of International Speakers Bureau Inc. in Dallas. Lemmons-Poscente's 30-employee company pays 50 percent of the cost of any personal or business development course taken by employees who have been on board at least six months. "We only pay 50 percent because we want the employee to be 100 percent committed, and we believe that if they have skin in the game, they are much more so," she explains.
Tuition reimbursement works as a benefit employees appreciate while enhancing their value to the company as their knowledge and skills increase.
Excerpted from "Doing Their Homework" in the May 2001 issue of Entrepreneur magazine.