Thread Options
#341865 - 04/01/05 04:41 PM does this make sense?
beegee Offline
Diamond Poster
Joined: Feb 2004
Posts: 1,092
South
this is a new caveat on our training policy:

"In the event that the bank elects to pay for education/training expense, I may be responsible for repayment of total costs (100%) if I voluntarily resign within 12 months after the education/training expenses were incurred; or one-half (50%) of any education/training expense if I should voluntarily resign after 12 months but prior to 24 months after said expenses were incurred."

I am struggling with this policy - do any other banks have a similar policy.

thanks

Return to Top
Human Resources
#341866 - 04/01/05 04:48 PM Re: does this make sense?
Jokerman Offline
10K Club
Joined: Nov 2003
Posts: 12,846
Yes, I have seen this before. 100% is pretty steep. I wonder how often this gets enforced. I also wonder if there should be a caveat about who requested the employee receive the education/training. If they're paying for college classes, that's one thing. If they sent you to an anti-money laundering seminar, that's another.

Return to Top
#341867 - 04/01/05 04:55 PM Re: does this make sense?
beegee Offline
Diamond Poster
Joined: Feb 2004
Posts: 1,092
South
Right- if it is for college courses then I see the mindset, but if it is for training that helps me do my job; i.e. - compliance, lending, audit training- then I disagree with the policy. The bank will benefit from the training also and without it the bank could suffer because I am not up to speed.

Return to Top
#341868 - 04/01/05 05:59 PM Re: does this make sense?
1 Peter 5:7 Offline
Diamond Poster
1 Peter 5:7
Joined: Jun 2001
Posts: 1,339
TX
Voluntary education reimbursement - yes. Job related training - no. You could cut that to 50% and it may be more reasonable. Think about how you'd enforce payment if someone refused. Would you go so far as to sue to collect?
Last edited by 1 Peter 5:7; 04/01/05 07:43 PM.
_________________________
Opinions are mine not my employer's, and should not be taken as legal advice.

Return to Top
#341869 - 04/01/05 06:10 PM Re: does this make sense?
SwankyFrank Offline
100 Club
SwankyFrank
Joined: Oct 2004
Posts: 146
Earth
Yes. Ours is prorated too. I believe it is over 3 or 5 years. Companies are wising up to the fact that some individuals only work there to get an education then leave the company for a career elsewhere. Ours also now will not pay for courses unrelated to our business. For example, the bank won't pay for nursing courses, liberal arts, etc.

Return to Top
#341870 - 04/04/05 02:18 PM Re: does this make sense?
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,491
Pulling people out of the ditc...
Many banks have this in place, ours is actually as long as 7 years (MBA or signing bonuses). Many companies have these type of policies in place...EDS, Shell, Chevron, AT&T, etc. Companies are tired of paying for the education of employees who then up and leave.
_________________________
Providing alternative truths since the invention of time

Return to Top
#341871 - 04/04/05 02:42 PM Re: does this make sense?
Anonymous
Unregistered

what about general continuing ed or required training?

Return to Top
#341872 - 04/04/05 04:37 PM Re: does this make sense?
1 Peter 5:7 Offline
Diamond Poster
1 Peter 5:7
Joined: Jun 2001
Posts: 1,339
TX
If it's job related, no.
_________________________
Opinions are mine not my employer's, and should not be taken as legal advice.

Return to Top
#341873 - 04/04/05 04:53 PM Re: does this make sense?
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,491
Pulling people out of the ditc...
EDS requires you to pay back job related training if you leave within your first 3 years. I can't speak for the others.
_________________________
Providing alternative truths since the invention of time

Return to Top

Moderator:  Andy_Z, Gayla Sherry