Starting in the 1980s, tuition reimbursement became the talent development tool of choice among the Fortune 500 and the smaller companies that followed their lead. In this model, an employee could pursue an MBA or some other advanced degree, and the company would pay for it, or a good portion of it. Training accomplished. End of story.
In today’s fast-evolving business landscape, where the need for new skills is the only constant, that “one and done” mindset for training doesn’t meet the employee development needs anymore. Instead, companies should take a more nimble and persistent approach by offering ongoing training for employees throughout their careers. It will cost money and time, but it’s the only way for companies to stay competitive and retain their best workers.
