How to Convince Your Boss to Invest in Your Education (And Why Should He Care)
Do you feel the need to adapt to new developments in your field? Do you want to refresh your knowledge but struggle with a lack of time or finances? Ask your boss to support you!
Supporting education is a mutually profitable investment that should be a part of employee incentives that create a successful company culture. Moreover, having a self-confident employee that is eager to follow the latest trends, is a wish fulfilled of every superior.
How to approach your boss and ask him to finance your education? We decided to help you with it and prepare persuasive arguments for your employer´s concerns.
Q: What are the benefits for the company paying for your education?
- Increased loyalty: employees tend to be loyal to the company that supports them. According to LinkedIn Workplace Learning Report 2018, 94 % of employees would stay longer in a company if it invested in their career. You will also send a signal to your employer that you are not planning on leaving, which is very valuable in increased labor market fluctuation.
- Sharing the knowledge: you can pass on gained knowledge and skills to your colleagues or use them to solve work tasks. If there is a lack of this know-how in the company, you might also immediately increase your value to the company. You could also represent your company at conferences or organize in-company training sessions.
- Building leadership ability: new knowledge can prepare you for taking up leadership positions. Companies tend to prefer someone who already knows their culture and is loyal so it´s mutually beneficial.
- Fresh perspective: you would enrich your company with alternative ways to solve problems learned from experts from other firms.
- Better company image: investment in employees’ education is a good PR that can attract new employees and potentially even clients.
Q: What is the financial payoff?
- Reduced recruitment costs: paying for tuition might be cheaper than hiring and training a new employee or outsourcing. Moreover, the risk of the new recruit leaving is higher. The company thus might save money in the long run.
- Tax-deductible: expenses on employee training are tax deductible. This means that the company will get a lower tax bill and a more qualified employee at the same time.
Q: Won´t your studies take up all your time needed for work?
- Study online - save time: Why commute because of studying if knowledge can come to you? Online studying will not only save your time and money but also your company´s. why should employees commute to training or university when knowledge can come to them? This will save time and money not only to you but also to your company. According to the research done by Company education magazine 11/2018, up to 56 % of employees prefer to learn at their own pace.
LIGS University is the perfect option for people who do not just want to sit through their day at the office. It offers a 100% online form of education delivered by our lecturers with many years of experience in many companies. Students will thus gain knowledge about the current development in their field with minimal impact on their work-life balance.
Ask your employer to invest in LIGS programs today to be better tomorrow!