Conditions that the agreement covers or can be applied However, if the training agreement is properly developed, it would reasonably be expected that the employer would recover a certain share of the $2,000. This model is used to define the terms and conditions for the company`s payment of training fees. It also describes the minimum period during which the employee must remain in the company before recouping a portion of the training costs and protects the company`s investment in employee training. However, in some situations, small businesses also need to protect the investments they make in their employees. D-D doesn`t always cost Earth, but some courses or job qualifications can be very expensive – if an employee ends up leaving his company just after completing a training that your company has paid for, he could seriously pull you out of your pocket. Of course, it is not enough to motivate an employee to pay only one slippery refund fee. High-potential employees are attracted to companies that have a strong career development program, challenges and effective performance evaluations. They live on feedback and are constantly looking for new challenges. To help you, check out our performance reviews and training and development kits. Have you been approached by a strong collaborator to fund an educational program that exceeds the training budget? Would the knowledge acquired benefit current and future business projects? What are you doing? Learn more about the content and sample of an employee training compensation agreement that you can use. Some training agreements operate in a kind of sliding scale, where the longer the employee stays in the company, the less he must be reimbursed if he decides to continue. For other companies, the training contract is a little black and white, with a set deadline indicating when the employee is no longer responsible for refunds. A training agreement is a written agreement between an employer and its employee, which defines the conditions of each training that the company pays for them.
It defines the cost of training, who is successful in training and who is the primary culprit. The employee signed an agreement on reimbursement of training. The agreement allows you to support your employee`s educational objective without affecting the company`s financial situation. Some programs such as an MBA can be very expensive. At least you want to be able to recover all or part of the costs if the employee leaves the company either in the middle or after the end of the course. In addition, the emphasis on learning and development can help increase employee engagement and retention.