Master degree in Business Administration – Education gives you an edge

Companies know that investing in your workforce will have immeasurable impact on the bottom-line but not too many will even consider allowing one of its employees to pursue a Master of Business Administration, much less pay for the continuing education. Unfortunately, companies balk at the sacrifice involved. It takes a lot to adjust all your operations to cater to a single employee who might have to sacrifice some of his or her responsibilities to focus on the studies. Developing human resource Developing your workforce—through retraining and education—and aligning those with your overall business mission will ensure mid-term and long-term gains. What holds back most companies in supporting an employee get a Master of Business Administration degree is the fear that the worker will leave afterwards. The studies, however, say otherwise. rnA Louis Harris and Associates survey in 2010 revealed that employees are more likely to leave the company that offers no training opportunities. According to the survey, 4 in 10 of those employees were planning to find better opportunities elsewhere within the year. On the flip side, only about 12 percent of the employees who worked for companies that offer continuing education and training said they will be leaving. So to say that investing in education of your employees will prompt them to leave doesn’t really hold water. Benefits rnThe Louis Harris and Associates survey was further buttressed by the National Network of Sector Partners which stated that developing human resource will boost company bottom-line. Among the benefits to the employer who allows its employees to pursue a Master of Business Administration degree include taking advantage of any innovation or new updates in the industry, it can reduce employee turnover as the employees are more likely to stay, boost productivity and improve work quality. What should companies do? Clearly, companies need to rethink their perception of the value of education and how it will help them become more competitive. The company can invest in tuition assistance programs to encourage employees—whose budgets are already strained by the economic slowdown—into taking a Master of Business Administration degree. Aside from debt of gratitude for helping pay off the school fees, the opportunity of career advance will prevent employees from leaving. The company should also accommodate the employee’s harder schedule as she or she juggles work, family and schooling by allowing time off as long as necessary. This will ensure that the company will get back its investment by making it easier for the employee to get his or her degree in Master of Business Administration.