Role of Corporate Sector in Furthering Education

Learning is a never ending process, and formal education starts from school level and ends at college/university level till we get a job. But learning does not, and should not stop here, but continue and for this it requires support (both financial and resourcing) from the organizations people work for. Further education which is also called as continuing education in some countries like United States and the United Kingdom assists individuals in facing the challenges of ever changing landscape.

Private sector companies have a momentous role to play in continuing education. In fact providing continuing education has become a powerful tool for the corporate sector to recruit and retain talented resources. Companies should invest in their employee’s continuing education, which will in turn reduce expenses and increase the employer bottom-line profitability by increasing revenues.

Education is commonly provided by universities, colleges and professional associations. But organizations can implement continuous professional education by introducing the day to day or strategic problems they face in the delivery of services to their clients as the curriculum. Private sector and corporate can also contribute in designing and development of the curriculum and case studies by providing their inputs like day to day problems, occupational information and changing market requirements.

Government also should play a crucial role in providing a supportive environment for the corporate to promote continuing the education. Government measures can include supportive tax regimes that encourage corporate to entertain their employees in continuing the education. Companies which have financial resources for education programs could make a larger impact by contributing to further education programs. One such good program is being implemented by Wipro in India. Wipro, through its ‘Wipro Applying Thought in Schools’ program, is training 5 lakh teachers in new teaching-learning methods through contact workshops. This helps the teachers learn new methods that can have a larger impact on the society through their service. In the same way corporate sector should play a crucial role in providing informal and organized apprenticeship and on the job trainings for the mutual benefit.

Companies can also play a significant role in furthering education by supplementing the efforts of universities, employers, NGOs and professional bodies. Along with text books, internet resources have become a boon for furthering education which is helping in providing production and distribution of study material and packages very easily and quickly.

Corporate leaders and entrepreneurs should consider the options for furthering education and take advantage of the research and development programs available, which can enable them to reinvent their businesses.