Education Assistance Policy
Purpose
This policy outlines the eligibility, application, entitlement and overall conditions to meet regarding an application for education assistance from TEG.
Scope
All full time, permanent employees.
Policy Statement
TEG is committed to providing financial and study assistance to eligible employees interested in pursuing business specific education to advance their career. Participation in this program provides benefits for an employee’s personal and professional growth and delivers increased competence and required certification to TEG.
Policy Owner and Effective Date
Human Resource Manager
Effective Date 1 May 2018
Policy Updated 1 May 2018
2.Eligibility
To be eligible to apply for study assistance, employees must:
a) Be a full time permanent employee.
b) Have completed a minimum of 12 months full time permanent and continuous service with TEG.
c) Demonstrate a high level of performance in their current position.
d) Be applying for a course that is directly relevant to their current role at TEG and can demonstrate the contribution the study will make to the Company’s strategic direction.
e) Be applying for a formal education program through a recognised University, Institute of Technology, TAFE, Technical Institute, College, Professional Association or similar that will lead to a recognised tertiary or professional qualification.
f) Show that the course of study has a long-term focus (i.e. not a short-term refresher course).
g) Enter the educational program in their personal development plan.
3. Application
An employee who meets the above eligibility criteria should complete an Education Assistance Application Form and discuss with their manager.
The application will be assessed by the manager, relevant SLT member and Human Resources. The approval process is at the discretion of TEG and no automatic acceptance will be provided. Final approval can only be provided by the SLT member and General Manager, Operations and HR.
An assessment of the application will be provided in writing to the employee.
4. Responsibilities
If an application for study assistance is approved, the employee is responsible for:
- Acknowledging the amount that has been approved. This may cover a portion or all study costs.
- Acknowledging that reimbursement will only be provided from the date of the study assistance approval and cannot be back-dated for completed courses/ study.
- Processing payment for all tuition and other fees from their personal bank account or card.
- Claiming reimbursement at the completion of each subject (see below)
Maintaining a high level of performance throughout the period study assistance is being provided. - Ensuring that any alterations to the course of study are submitted in writing to the employee’s manager and Human Resources as soon as possible.
Study assistance programs are reviewed every six months, taking into consideration the academic and work performance of the individual. If performance is not at a satisfactory level, TEG may elect, at it’s discretion, to withdraw financial and other assistance.
5. Claiming reimbursement
When an application for study assistance is approved, the amount of financial and other assistance will be confirmed in a Study Assistance Agreement.
On satisfactory completion of each module/ unit/ semester of study, the employee should use the Employee Expense Reimbursement Form to submit a claim. The following information must be provided:
- Confirmation that the course/ unit of study was satisfactory completed (i.e. a pass mark or above was obtained)
- Confirmation of payment made from the employee’s account or card (e.g. receipts, invoice etc.)
All claims must be submitted to the Human Resources Manager for review and approval before being processed by the Finance team.
Expense claims that are received more than three months after the completion of the module/ unit/ semester of study will not be reimbursed. Similarly, if a unit of study is not completed satisfactorily (i.e. a fail), reimbursement will not be processed.
Where an amendment to study has occurred and written notification has not been provided by the employee, reimbursement may not be provided.
6. Termination of employment
Employees will be required to reimburse the Company for all financial payments made in relation to Education Assistance. The terms of repayment will be detailed in the Study Assistance Agreement. If they are not detailed in the letter, then repayment will be liable in the following situations:
- a) Voluntary resignation within two years of starting an approved course.
- b) Termination of employment on disciplinary grounds within two years of starting an approved course.
By making an application for Education Assistance, an employee agrees to abide by these parameters and agrees to reimburse the company in full should they separate employment within the time periods as specified above.
In the event of redundancy, TEG will not require reimbursement of payments already made as part of an approved Education Assistance program.