62 percent of companies in Chile offer cash for further studies

Report by Mercer Human Resources proves Chileans are seeing a growing commitment from their companies, “new perspective in employer-employee relationships.”

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Report by Mercer Human Resources proves Chileans are seeing a growing commitment from their companies, “new perspective in employer-employee relationships.”

There is a growing business commitment from companies to their employers where more than half of Chile’s large-scale work institutions are offering cash for employees to continue their studies.

A study made by Mercer Human Resource Consulting which looked at 165 Chilean companies – especially multinationals and major local businesses – revealed that 62 percent were offering funds to their employees to continue studying.

The funds are a sum of money paid on a regular or occasional basis, which facilitate the payment of education fees for employees.

According to the study,Chile is a pioneering country in South America with respect to these initiatives, as other developed countries in the region do not support the same kind of programmes.

This kind of scheme is well-received by employees as it helps ease the financial burden during March, a particularly expensive month in which they have to pay studying fees while compensating for time taken off during the summer holiday season in February.

The help is mainly considered for secondary and university education. Of all the companies surveyed, the average amount offered was US$144 for secondary school and US$288 for college, paid once annually, mostly in March.

Martin Perdomo, human capital leader for Mercer Chile, said in an interview with South American news agency Terra “the profile of companies that provide this benefit are those at the manufacturing level, or those which have levels of workers or unions.”

The report regards growing corporate interest in supporting individual employees as an important innovation in employer-employee relationships.