According to a report released by the National Center for Education Statistics, almost four million Americans aged 35 and older were enrolled in degree-granting institutions in 2013.
Many of these continuing students were encouraged to pursue educational advancement by their employers, so that they could develop new skill sets needed by their companies.
As a business owner, it is important that you understand the benefits of providing continuing education for your employees.
Acquire New Knowledge and Skills
One of the main advantages of furthering your employees’ education is that it can help meet your company’s current or future skill needs.
Business trends are changing at a rapid pace, and you may find yourself needing new skill sets every now and then to stay up-to-date with the latest developments in the business world.
Sending your employees back to school is a great way to acquire the new knowledge and skills you need to maintain an edge over your competitors.
For instance, if you are planning to implement big data analytics in the near future, you can provide continuing education for some of your IT employees, so that they can learn the skills needed to operate a big data system. It is especially important to get your employees to develop new skills if your business is growing.
As your company grows, you will need more employees with specialized skills in various departments to keep it running smoothly.
Provide Leadership and Training
Employees who have undergone extensive academic training have a greater potential to become good leaders, because they are confident in their abilities, and they can gain the respect of their subordinates more easily. If you can turn them into good leaders, they will be invaluable to your company.
Additionally, highly-educated employees have the necessary knowledge and skills to provide training for new employees, and they can teach them how to apply those skills in the context of your business operations.
Employee Satisfaction
According to an article entitled “Is It Time to Go Back to School?“, one of the main reasons why people decide to pursue continuing education is because they want to stimulate their minds.
Employees who take their jobs seriously will want to learn new skills and advance their careers, so that they can meet fresh challenges and gain a greater sense of satisfaction from their work. By offering educational advancement opportunities to your employees, you will give them extra motivation to improve their work performance.
Another benefit of providing continuing education for your employees is that it will make them easier to retain.
In a survey conducted by Spherion Atlantic Enterprises, about 61 percent of employees who received continuing education at their employers’ expense said that they would most likely stay with their employers for five years or more.
Sending your employees back to school can be somewhat costly, but it is a good investment in the long run.
Having a more educated workforce can be beneficial to your company in many ways.
About the Author: John McMalcolm is a freelance writer who writes on a wide range of subjects, from social media marketing to Cloud computing.
More education is never a bad thing. However, some jobs simply do not require it.