Make your business case for sponsorship and tuition support – six tips
Many companies today offer some form of tuition help as part of your professional development — especially if you can make the case that it will pay off in your work
By 2025, 50 percent of all employees will need reskilling, according to the World Economic Forum’s ‘Future of Jobs Report.’ Many companies see the value in reskilling and are willing to contribute towards their employees’ program tuition fees. Here are some tips to help you prepare a business case for sponsorship to your employer.
1. Identify the help you might need
Be knowledgeable about how much the program will cost you. At Nexford, you only need to factor in the application fees and tuition payments. Nexford offers monthly tuition payments – and a degree at Nexford costs 87 percent less than the average online American degree.
2. Look up your firm's policies for sponsorship
Your employer might offer a flexible benefits package. Your employer can contribute towards your tuition fees in many ways, including percentage splits, salary sacrifice schemes, reduced hours, program fee reimbursement after successful completion of courses, and bonus structures.
It’s also important to understand how your organization identifies its learning needs. For example, if you have annual appraisals, you might want to introduce the idea of further study during these meetings, as part of your development goals.
3. Develop the business case
It’s likely that your company will only consider contributing if you present a business case. This needs to demonstrate a measurable benefit to the organization and how your learning meets both your aspirations and the growth goals agreed with your manager.
4. Show the impact of your studies
It will help your business case if you show evidence that you have been thinking about ways to demonstrate the benefits of your learning. Use a mixture of evaluation methods to prove an expected change that can be linked to key performance indicators (KPIs) you are working towards. Your learning might also be an opportunity to work on a company project that can be used as part of an assignment or final project.
5. Anticipate possible employer objections
Your employer might be concerned about how you juggle the demands of work and study, or if you expect time away from the office. By studying 100% online at Nexford, you can study, work, and have a life. You can reassure your manager that our programs enable you to fit your studies around your work.
6. Be bold and ask!
Don’t be afraid to ask. Be bold and go for it. We’re right behind you!
Remember to mention
- With 100% online learning, you can fit your studies around your work
- Your employer can pay monthly, quarterly, or with annual tuition installments
- You’ll be able to apply new knowledge and ideas to your work right from the start
- You’ll gain in-demand technical and specialist knowledge for problem-solving in your organization
- If you pick a real case study within the organization as a final project, this may act as consultancy for your business.
Ready to take the next step? Choose a program now
About the Author
Anna Johnston is an award-winning Head of Content, who tells galvanizing stories with a creative team at Nexford.
Anna was the overall Award 2020 winner for the business case: Satya Nadella at Microsoft: Instilling a Growth Mindset, with Professor Herminia Ibarra and Aneeta Rattan. She is formerly a writer at London Business School, consistently ranked among the world’s best its MBA.
Anna’s work has been published in Forbes, Thomson Reuters, Huffington Post, HR Magazine, the Financial Times, and thought-leading firms such as Accenture and McKinsey & Company.
Anna is a speaker, coach, and presenter. More information about her can be found on LinkedIn.