Most Firms Believe Tuition Assistance Can Fill Skill Gap, Less Than Half Offer It: Survey

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There’s a major talent-skill gap in the hiring market, according to a survey report by Wiley Education Services (Representative image)

As many as 60 per cent HR and L&D employers believe that there is a major talent-skill gap in the hiring market, according to the survey report

  • News18.com New Delhi
  • Last Updated:August 04, 2021, 14:18 IST
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A majority of employers recognize the need for upskilling employees and offer them tuition assistance. About 87 per cent of employers give preference to tuition assistance and support programs and believe that they are the most effective and impactful upskilling/reskilling tools. However, only 45 per cent of the HRs and leaders are offering similar benefits at their firms, reveals a survey report by Wiley Education Services.

As many as 89 per cent believe that tuition assistance and support programs render a positive impact on the employee retention process whereas 70 per cent feel that these tools positively affect the recruiting process.

Tuition reimbursement/scholarships, university-sponsored discounts, along with industry certificates, and traditional methods of education are the most effective methods for upskilling/reskilling according to 70 per cent of employers.

As many as, 30 per cent of employees said that their companies executen’t offer similar benefits until they complete a year with the organization. Only one-third of the employers eventually incorporate tuition assistance within their review process.

As many as 60 per cent HR and L&D employers believe that there is a major talent-skill gap in the hiring market, according to the survey report by Wiley Education Services. While 70 per cent fee upskilling and/or reskilling are the most viable way-outs to bridge this gap.

The survey, Reimagining the Workforce 2021 highlights opinions of CHROs, L&Ds and CXOs on upskilling and reskilling as the most effective tools to bridge the skills gap among the employees.

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