Human Capital Development: Your Company’s Sure Bet For Success


Most organizations
agree that their employees are their most valuable asset and, as a result, an increasing number of companies acknowledge the importance of human capital development to organizational growth. The efficacy of offering employees quality opportunities to reach their personal academic goals, while simultaneously creating a qualified workforce, has proven beneficial to many business stakeholders.

THE REALITY

  • SKILLS CRISIS: Almost all companies find a gap between the profile of their workforce’s knowledge, skills, and abilities and the organizational skills needed in this increasingly competitive global economy.

Fact: Based on 2020 Census statistics, from 2003 to 2011, college enrollment levels rose by 3.8 million, only to fall by 1.5 million from 2011 to 2018. Unfortunately, those 2018 Census statistics predate the 2020 pandemic’s impact on household income and higher education enrollment.

 

  • STRATEGIC INVESTMENT: Close to half of companies in the United States now offer some sort of education assistance program to their employees. Business-university partnerships allow companies to stretch their dollars further as they usually involve a tuition discount agreement with the university or college partner and, when targeted to the needs of the company, can fill the skills-gap.

Fact: In Training’s 2020 review of their top 125 picks of companies with quality training and development programs, they found that about 95% of their picks offered their employees some form of tuition reimbursement for enrollment in college and university programs.

 

  • RECRUITMENT AND RETENTION: More companies are becoming aware of this lucrative link between educating their workforce and the financial benefits from employee recruitment and retention. 

Fact: Julie Stich, of the International Foundation of Employee Benefit Plans, noted, “It used to be that health insurance, life insurance, and a retirement plan was enough — that got you retention, and that got people in the door,” (Mayer, 2019) but acknowledged that, in today’s more competitive market, offering some form of an education assistant program plays an increasing role in a company’s recruiting and retention efforts.

 

  • ORGANIZATIONAL CULTURE: This type of employee benefit tends to increase employee satisfaction. 

Fact: Based on a 2019 survey of over 30,000 tuition assistance employee participants reported in Talent Development

  • 82% of surveyed employees said their continued education made them more effective employees,
  • About 66% stated that this educational support made them happier at work, and
  • 78% said involvement in these programs deepened their sense of personal fulfillment.

 

A SOLUTION: EASTERN NAZARENE COLLEGE

OUR BUSINESS MODEL

Established in the 1900s in Massachusetts, the college has a long history of excellence in academic preparation through a Christian worldview. ENC is certified to operate in Virginia with the State Council of Higher Education for Virginia (SCHEV). All students entering the program must have, at a minimum, completed an Associate degree or the equivalent in credits.

    • Our transformational education experience stresses the development of communication, collaboration, critical thinking, and ethical judgement and decision-making skills. We celebrate diversity and teach our students, through example and evidence-based practices, how to do the same.
    • Our highly qualified faculty are required to be practitioners still working in the business industry, ensuring students are taught with real-life applications to academic principles. 
    • Assignments are framed with an action-research lens, focusing on relevant issues that leverage the corporate strengths of their organizations and developing creative solutions to complex problems.   
    • Classes are offered one night a week for 6-week cycles, with students completing four cycles every term/semester. This model is designed with working students in mind, allowing a manageable balance between career, family, and coursework.
    • Our qualified advisors offer individualized assistance and our application process is easy and FREE. Students just fill out our short online application, send us their transcripts, and we do the rest.

 

OUR BUSINESS PROGRAMS

UNDERGRADUATE BUSINESS PROGRAMS

Bachelor of Science in Business Administration

Bachelor of Arts in Management

  • As little as 20 months to completion
  • 42 credits to completion
  • Affordable $417 per credit hour 
  • Concierge textbook service ($85 per course, or opt-out to make your own book arrangements) 

 

GRADUATE BUSINESS PROGRAM

Master of Science in Management

  • As little as 16 months to completion
  • 36 credits to completion
  • Affordable $628 per credit hour
  • Concierge textbook service ($85 per course, or opt-out to make your own book arrangements) 

 

OUR CORPORATE PARTNERSHIPS

We are excited to partner with local businesses wanting to develop a well-prepared leadership team. Our business programs are affordable and all businesses that form a corporate partnership with ENC will be able to offer their employees an additional 25% discount on tuition costs. ENC also works with all our corporate partners’ tuition assistance programs. We are conveniently located in the Richmond-Metro area (Chesterfield County), with easy access to I64 and I95. 

We truly believe that the trend towards human capital development through a business-university partnership fully leverages an asset that, unlike physical assets, has the unique advantage of increasing in value over time. We want to partner with you to design a program that targets your company’s organizational needs and fills your unique skills gap.

Visit us at www.enc.edu to learn more, or contact us at [email protected]

 

References
Freifeld, L. (2020, March/April). Cheers to 20 years. Training, 57(2), 6.
Mayer, K. (2019). Walmart wants more workers to use $1-a-day tuition benefit.
Employee Benefit News, 33(3).
n.a. (2020, February). Learning payouts. Talent Development, 74(2), 13-15.
U.S. Census Bureau. (2020). School enrollment in the United States: 2018. Retrieved from https://www.census.gov/library/publications/2020/demo/P20-584.html