The value of continuous learning and personal development cannot be overstated. Organizations who invest in education programs for their employees are not just providing a benefit, they are fostering growth, innovation, and success for both the employee and the organization. At Parallax Advanced Research and Ohio Aerospace Institute (OAI), one of our core values is commitment to personal growth. Our education assistance program is a great example of how we embody this value every day. Our program covers 100% of tuition cost for employees who earn a passing grade of a C or better. In addition, our program covers a cap amount equivalent to around 80% of tuition cost for an employee’s spouse or domestic partner and their dependents.
Education Assistance Program
The education assistance program at Parallax and OAI was inspired by the programs provided at local universities who pay for their staff to earn a degree at no cost to the staff member. Why should this benefit be limited to academia and large corporations? As Parallax aims to break down the barriers between academia, government, and industry, this is a benefit that can be successful within each sector and at companies of all sizes.
Career Development
Career development is crucial in the modern business landscape. With advancing technology, business practices and market demands are continuously evolving. Learning and development is needed for employees to keep pace in remaining proficient in their roles and for employers to stay in tune with their market trends and stakeholder expectations. Company-provided education programs ensure that employees are kept up to date with the latest developments, tools, and technologies in their field leaving them equip for their current role and prepared for future roles. Targeted education and training addresses skill gaps head-on before they fester and negatively impact business outcomes. When employees have the skills and knowledge they need to excel, the company benefits from increased efficiency, higher quality of work, and success in achieving their goals.
Continuous education exposes employees to new ideas and ways of thinking. Organizations who engage in employee development are more likely to bring fresh perspectives and innovative solutions to workplace challenges. Leading to process improvements, new services or focus areas, better business outcomes, and an overall better customer experience.
Parallax/OAI Impact on its Workforce Education Assistance
Delivering solutions for critical challenges is what we do at Parallax and OAI, therefore an education program was an obvious investment for our organization. Our last fiscal year we had 18 employees enrolled in an accredited university program, five of whom graduated with their master’s degrees. By investing close to $200,000 in our current talent, our organization’s skillsets and knowledge grew by two MBAs, a master’s degree in business analytics, a master’s degree in human factors engineering, and a master’s degree in information systems business analytics. Replacing a position can cost up to 200% of the predecessor’s salary and in our industry the average cost-to-hire ranges from $6,000-$40,000. Growing our current skillsets invests our dollars back into our organization, which in turn allows Parallax to do what we do best - accelerate science and technology enterprise investments for the prosperity and safety of the state of Ohio and our nation.
Investing in an individual’s professional development sends a powerful message: their growth and success matters and is valued. This level of care drives employee engagement and motivation, boosts morale, and fosters a culture of growth. Today’s top talent is seeking opportunities for growth and development with an organization who cares about their well-being. Employers have a strong impact when it comes to their employee’s wellness. That is why Parallax expands our education assistance program to our employee’s spouse or domestic partner and dependents. This is an investment into our employee’s overall wellbeing and to the education and wellbeing of our future workforce within and outside of Parallax and OAI. Our last fiscal year we invested close to $135,000 into this program and had 32 participants. That is 32 people who were able to follow their passions, go to school when it may have been out of reach otherwise, and have peace of mind without the financial burden that continuing school can inflict on an individual and their family.
Take action today: Advance your education and career by applying to a position at Parallax Advanced Research!
Education programs provided by employers are a win-win-win for employees, organizations, and our nation. They foster a culture of continuous improvement, enhanced skills, and innovation while boosting employee engagement and wellness. Knowledge is power. By cultivating a workforce that is always learning, a business can thrive in a competitive and ever-changing environment.
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About Parallax Advanced Research and the Ohio Aerospace Institute
Parallax Advanced Research is a 501(c)(3) private nonprofit research institute that tackles global challenges through strategic partnerships with government, industry, and academia. It accelerates innovation, addresses critical global issues, and develops groundbreaking ideas with its partners. With offices in Ohio and Virginia, Parallax aims to deliver new solutions and speed them to market. In 2023, Parallax and the Ohio Aerospace Institute formed a collaborative affiliation to drive innovation and technological advancements in Ohio and for the nation. The Ohio Aerospace Institute plays a pivotal role in advancing the aerospace industry in Ohio and the nation by fostering collaborations between universities, aerospace industries, and government organizations, and managing aerospace research, education, and workforce development projects.