However, as tuition costs continue to rise, employers are being more careful about how they spend their money. Lea Bosquez, director of organizational development at Finova Captial Group Inc. said her company is looking at a proposal to work with Educational Advisory Services to help reduce tuition. Bosquez said she is interested in Educational Advisory Services cost-benefit analysis that shows employers how much money can be saved for each employee who uses its counseling services. Correspondence, distance learning and Internet courses can be cheaper and more flexible alternatives to classroom education, she said. College Level Examination Program and Proficiency Examination Program tests assess academic and life skills that can be translated into college credits.
Some universities allow work experience to be translated into credits.
This can earn a student as many as 20 credits, if not more. Similarly, some corporate and industry training programs and seminars can be translated into credits. But a lot of it is just basic things and can save a company millions. As the labor market tightens, Arizona corporations are spending millions of dollars to educate employees to not only keep them happy, but to remain competitive. The labor pool is clearly a seller's market, said Lawrence Gudis, senior regional vice president of University of Phoenix, which offers degrees for working adults throughout the nation.