Many might see the transition from university student to professional as the closing chapter of their educational journey. However, in reality, continued learning is essential for career success and growth. The rise of short courses and microcredentials has made further education more affordable, but the financial commitment can still be a significant concern or even an insurmountable barrier for some. One potential solution is to explore whether your employer can fund your studies. After all, if you're studying subjects relevant to your professional role, the company benefits as well.
Everybody wins
Although it might feel uncomfortable to discuss funding your education with your employer, it's important to remember that you're not simply asking for a handout. Pursuing further studies related to your profession provides clear benefits to them. Supporting employee learning and development has been shown to increase loyalty and reduce turnover, as staff feel supported and experience a sense of growth and progression. While there is a cost to supporting your studies, this investment is likely much cheaper than hiring and training a replacement should you decide to leave.
Additionally, your enhanced skills will directly benefit the company, giving them a competitive edge with a more educated and capable staff member. Ideally, employers will view the cost of supporting your education as a strategic investment in the business's overall success.
So, if you’re thinking of broaching this delicate subject with your manager, how do you best prepare your case?
Do the groundwork
To be successful in your request, there are a few key steps to consider and some homework to do:
Align your goals with the company's strategic direction: Determine if the business needs to address certain skill gaps or develop new capabilities. Your studies could help fill these needs.
Review the company's education and professional development policies: There may already be provisions in place to support employee development. Familiarise yourself with these policies and consider seeking advice from HR if appropriate. Your manager may not know the details, and your knowledge can help avoid potential hurdles.
Identify precedents of employer-funded education within the company: Look for examples of employees who have received funding for their education, whether through formal policies or ad hoc requests. Following an established precedent can strengthen your case by showing that it has been done before.
Build your case
Armed with this knowledge, it's time to build your case:
Be clear about what you want to study: Specify your goal and the exact course you wish to take. Detail the key topics covered by the course and explain how they relate to your current role or the role you aim to move into.
Present a clear rationale showing how your studies will benefit the company: Highlight how the enhanced skills will lead to improved job performance and increased potential for handling more significant projects or leadership roles.
Contribution to the company’s growth and innovation: Explain how your increased knowledge can contribute to the strategic success of the business, whether by strengthening existing capabilities or helping to explore new directions.
Pick your moment
Now that you're fully prepared, consider how and when to make your request as choosing the right time to discuss your proposal is critical. The ideal time is during an annual review or performance check-in, as your manager's focus will be on your performance and growth, making them more open to your proposal. If this isn't an option, schedule a specific meeting to discuss your request and give your manager an idea of the topic in advance. This will help ensure they aren't caught off guard.
Manage objections and be flexible
While some might be fortunate, it's unlikely that your employer will agree to all aspects of your request without raising objections or requiring some compromise. You may need to make concessions to secure their support:
Prepare to discuss your long-term career plans: Your manager will likely want to know what the company stands to gain from supporting your studies. They may want to formalise this by asking for a written agreement to stay with the business for a certain period, or to repay the study costs if you leave before a specified time. Be ready to discuss your commitment to the company and how you plan to apply your new skills to benefit the business.
Partial funding or reimbursement plans: Your employer might ask you to share the costs by only partially funding your studies, or they might require you to cover the initial cost with the promise of reimbursement later. If the course costs more than the business is willing to pay, be open to exploring less costly alternatives.
Time management and workload: They may worry about your ability to manage your job effectively with the added pressure of studying. Be ready with strategies to balance work and study to address these concerns. If your studies require commitment during work hours, consider part-time or online options that can be completed in your own time.
By following these tips, you should be well-equipped to successfully secure funding from your employer for your studies. Remember, continued education not only benefits your career but also adds significant value to your company. As you plan your next steps, consider exploring the range of short courses and microcredentials offered by UTS Open. Start planning your next study opportunity today and take a proactive approach to your professional development.
