BUILDING EDUCATIONAL PATHWAYS THAT ENGAGE AND UPSKILL EMPLOYEES
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Education and development opportunities rank high as an employee priority, particularly for younger employees. And nearly every executive in a Conference Board study reported their companies weren’t developing skills fast enough or leaders deeply enough[1]. Yet many employers restrict their learning approaches to a tuition reimbursement program covering only degreed-based programs. All while new learning formats are delivering business-specific learning quickly and cost-effectively. Learn how employers are forging Education Pathways and Education Allowances to access programs which excite employees, close skill gaps, and increase employee retention. Register for this webinar to: Learn about the trends transforming learning and education program approaches Understand the business advantages of Educational Pathways and Allowances to upskill employees Hear examples and best practices for successful programs and how to track impact against talent management objectives.
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BUILDING EDUCATIONAL PATHWAYS THAT ENGAGE AND UPSKILL EMPLOYEES
- 1. The presentation will begin at the top of the hour. A dial in number will not be provided. Listen to today’s webinar using your computer’s speakers or headphones. Welcome to the webinar!
- 2. Tools You Can Use Audio Control – A dial in number will not be provided. – Adjust the volume on your computer or headphones
- 3. Ques%ons and Handouts You can submit ques%ons by clicking on this icon here. You can download a PDF of the slide deck by clicking here.
- 4. 1. May I receive a copy of the slides? YES! Click on the hoandouts list located on the right portion of your screen. 2. May I review the webinar recording at a later date? YES! You may log in again using today’s link to review the presentation on-demand. 3. Is this webinar HRCI or SHRM certified? YES! The HRCI and SHRM certification codes will be sent in the same follow up email as the recording Frequently Asked Ques%ons
- 5. Speakers Alan Robins Director, Education Program Services EdAssist Tracey Bingham Sr. Consultant, Education Strategy EdAssist © 2017 Bright Horizons Family Solutions LLC5
- 6. May 3, 2017
- 7. We help organizations like yours design, manage, and measure education assistance programs, including: About EdAssist © 2017 Bright Horizons Family Solutions LLC § Tuition reimbursement § Certificates and non-degrees § Student loan repayment § Dependent scholarships Help 150k working adults Gain new skills through education Each year, we: Administer $500m In education payments Manage 200+ University partnerships 7
- 9. 58% 63% 73% 72% 77% 50% 55% 60% 65% 70% 75% 80% 85% 90% 2013 2014 2015 2016 2017 CEOs concerned about the availability of key skills Skills Shortages Are Growing © 2017 Bright Horizons Family Solutions LLC 1.Annual CEO Survey, PWC 9
- 10. 53% 36% 28% 27% 26% 19% 19% 0% 10% 20% 30% 40% 50% 60% Develop existing staff Recruit outside talent Alternative sourcing Increase new hire benefits Increase new hire salaries Outsource work Change work models Strategies to close skill gaps1 Developing InternalTalent is Essential to Filling Roles Source: 2016-2017 Talent Shortage Survey, ManPowerGroup © 2017 Bright Horizons Family Solutions LLC10
- 11. Upskilling is A Perpetual Need © 2017 Bright Horizons Family Solutions LLC11
- 12. Education ParticularlyValued byYounger Employees Would pick a job with strong development potential over one with regular pay raises 60% Have already taken classes while working54% 62% Always want to be learning new skills Source: EdAssist Millennials Study, 2015 © 2017 Bright Horizons Family Solutions LLC12
- 13. Which department are you in? a) Benefits/Rewards b) Talent Management/Acquisition c) Learning & Development d) Other HR Function POLL © 2017 Bright Horizons Family Solutions LLC13
- 15. Employee Education: What’s Changing Old Rules Careers “up or out” Managers direct career paths L&D owns employee development and training Credentials provided by accredited universities New Rules Careers go in every direction Employees shape careers, with guidance from the employer L&D curates training options and the learning experience Credentials come from a wide variety of sources Source: Bersin by Deloitte © 2017 Bright Horizons Family Solutions LLC15
- 16. Traditional Tuition Program Key: For Credit Not-for-credit Time to complete (years)Cost 1 2 3 4 5 Bachelors Degrees Individual Courses Masters Degrees Corporate Learning Options $ $$$ $$ $$$$ Employees have lots of options for gaining new skills. At any budget, on any timeframe, and for virtually any task or job. Certificates Boot Camps MOOCs Executive Education Programs Specialized Training GEDs Certifications Nanodegrees © 2017 Bright Horizons Family Solutions LLC16
- 17. Which types of learning does your education assistance policy cover? (all that apply) a) Degree-based programs only b) Certificates c) Certifications & professional designations d) Individual courses e) Specialized training POLL © 2017 Bright Horizons Family Solutions LLC17
- 18. § Employers need to deliver learning on employees’ terms: – Flexible to meet different schedules and learning styles – Applicable to the job/career path – Faster, taking advantage of work experience and prior education – Personalized, with guidance tailored to an employee’s career goals § Tuition programs are evolving to accommodate this shift Employee-Centric Programs © 2017 Bright Horizons Family Solutions LLC18
- 19. Traditional Program Expanded Program Emerging Practices Covered Education College degrees Degree and non-degree providers Targeted education pathways Program Models Tuition reimbursement Reimbursement, disbursement, or direct bill Education allowances Reporting Annual program spend Spend, education providers, degrees pursued Match rate: skills acquired versus skills needed Education Assistance Evolves © 2017 Bright Horizons Family Solutions LLC19
- 21. § A series of defined learning programs catering to distinct employee groups § Characterized by: – Job and/or career-relevant outcomes – Pre-selected learning content – Clear success metrics Education Pathways © 2017 Bright Horizons Family Solutions LLC21
- 22. Determine Focus • Identify employee groups • Assess skill gaps Develop Strategy • Assess learning partners • Establish desired outcomes Launch • Select and customize programs • Inform employees • Offer guidance Measure and Manage • Track outcomes • Fine-tune the user experience • Adapt over time Developing Education Pathways © 2017 Bright Horizons Family Solutions LLC22
- 23. Case Study — Business Need § Global consumer products company – Business driver: talent sustainability • Pressure to retain more front-line hires and develop them into specialized and managerial positions – Identified three primary employee groups Front Line Staff High Potentials Specialists & Technicians © 2017 Bright Horizons Family Solutions LLC23
- 24. Business Fundamentals Case Study — Pathway Creation Targeted Skills Front Line Staff Leadership Development Specialists & Technicians High Potentials Accelerated degrees Competency-based learning ‘No cost’ degrees Specialized courses Certificates Industry designations Qualified degree programs Internal executive training Leadership-focused graduate programs Executive certificates © 2017 Bright Horizons Family Solutions LLC24
- 25. § Fixed annual amount for education expenses § Multiple models support distinct talent goals § Flexibility to adjust to business needs Education Allowance © 2017 Bright Horizons Family Solutions LLC25
- 26. Developing Education Allowance Determine Focus • Clarify business objectives • Assess skill gaps Develop Strategy • Identify acceptable education programs • Model participation and budget forecast Launch • Communication to leadership • Inform employees • Offer guidance Measure and Manage • Track outcomes • Fine-tune the user experience • Adapt over time © 2017 Bright Horizons Family Solutions LLC26
- 27. § Payment for tuition, certifications, and other job- related education § Grant employees more choice (while vetting quality) § Lower-cost programs controls budgets § Centralized administration ensures fairness, impact Education Allowance: ExpandedTuition Program RETENTION UPSKILLING RECRUITMENT ENGAGEMENT © 2017 Bright Horizons Family Solutions LLC27
- 28. § Combines Tuition Assistance with Student Loan Repayment § Employees choose what to claim reimbursement for § Employer has ability to offer incremental payments for areas of particularly high demand for talent Education Allowance: AddressingTalent Shortages RETENTION UPSKILLING RECRUITMENT ENGAGEMENT © 2017 Bright Horizons Family Solutions LLC28
- 29. § Multiple education benefits – Tuition reimbursement – Student debt repayment – Help preparing for a child’s college goals § Employees can participate in one program annually – Each is supported by personal guidance Education Allowance: Commitment to Education RETENTION UPSKILLING RECRUITMENT ENGAGEMENT © 2017 Bright Horizons Family Solutions LLC29
- 30. TAKEAWAYS
- 31. Traditional Program Expanded Program Emerging Practices • Passively managed • Compliance focused • Flat payment cap • Degrees only • Tiered payment caps • Vetted education partners • Custom cohorts • Employee guidance • Actively managed • Linked to career goals • Financial supports • Personalized experience MoveYour Program Forward © 2017 Bright Horizons Family Solutions LLC31
- 32. THANKYOU.