According to a survey commissioned by Academic Partnerships (AP), human resources (HR) executives agree that advanced academic degrees are important for employees looking to advance in their companies. The advantages of advanced degrees include:
- Upward mobility (89%),
- Promotion (86%), and
- Increases in salary (71%).
However, these executives report that only half of their employees hold a bachelor’s degree and less than a third (30%) hold a master’s degree or above.
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The survey polled nearly 275 HR executives involved in making decisions regarding continuous learning initiatives within their companies of at least 500 employees. Results were released as students of all ages begin a new academic year in an uncertain job market.
Despite the somewhat challenging economic environment, companies are continuing to fund continuous learning in the workplace, with HR executives reporting that their tuition assistance budgets are stable (61%) or increasing (30%). The vast majority (81%) of companies are funding all or some tuition for their employees.
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So what is holding working adults back from pursuing or completing an advanced degree?
According to AP Chairman and CEO Randy Best, the answer could lie in misperceptions about the viability of balancing work and family life with the pursuit of higher education.
“It is clear that HR executives are committed to their employees’ pursuit of higher education and that advanced degrees result in tangible benefits in the workplace,” said Best. “We know that online learning makes higher education more accessible and achievable for working adults and are pleased that its value is well-understood by employers. Online learning has become a powerful force in educating working adults as they have come to understand the personal and professional advantages it provides.”
AP partners with public universities in the United States and numerous top foreign institutions to utilize technology for the delivery of accessible and affordable instruction.