A Sure Way To Get Lower Worker Productivity
There is a lot of talk these days about the "shoot the moon"
costs associated with college and university expenses. Average
annual raises of 7 to 10 percent are common. In four years the
fees will be 1/3 more than they are right now. Big deal! What
does that have to do with the workers, employees or associates
of any company or corporation? Four years at a state institution
will run from fifty to sixty thousand. Private schools are in
the hundred to hundred and fifty thousand bracket and more.
Most parents, those paying the bills, will deplete their 401k's,
sell real property, cash in life insurance policies, empty
savings accounts, borrow, borrow, borrow, and what may be worse
than any of that...start moonlighting without telling anyone.
When a person decides to work somewhere else, for someone else,
regardless of the circumstances, things start to happen. They
may be late for their primary job. At first, not much, but then
they're late once or twice a week. A habit is setting in.
Working the extra hours means that their decision making
processes are not quite as sharp. Mistakes are made. Profits are
lost. What started out as hundreds and thousands of families are
in the same boat, turns out to be one person's job in jeopardy.
This scenario occurs year after year. Those directly affected
say, "Yes, I know my work has slipped a little, but it will get
better." Maybe it will, but more likely it won't. The employee
is given an ultimatum and eventually let go. Another person is
hired and trained with a good chance of repeating the process.
And,still, few managers make the "college connection."
But, for the sake of argument, let's say the next person doesn't
do any of those things to finance a child through college. She
just takes out loans and gripes about how little she gets paid
for doing a stellar job. This person becomes an attitude
problem-again affecting productivity. Not only hers, but those
around her.
Then, there is another person. He started early savings plans
for each of his three children. He will be in great financial
shape when his students are college bound. He feels "sorry" for
his co-workers who weren't as diligent as he was, and he lets
everyone know it. Another attitude problem starts to manifest
itself.
Every state has a 529 plan in effect. Universities have
developed unique savings plans. But, the same force that kept
people from developing early savings plans keeps people from
participating in any savings plan. That force is
procrastination. There is always tomorrow because tomorrow never
comes... until the day of reckoning. What can be done?
A relentless program of educating employees must take place.
Find out what government and private savings programs are
available in each state and then hammer home the results of
failing to follow through with an adequate plan. What will be
the ramifications of lost opportunities for them? Encourage
heads of families to discuss college with their children.
Explain the benefits of working closely with their children's
schools to achieve the desired ends of having well-rounded
students with better than average GPA's. Businesses can keep
families from disintegrating at the mere mention of "the college
financial crunch." Corporations can be the strength and energy
that keeps its workforce intact.