This piece has been adapted from Talent Economy. Read General Assembly and Whiteboard Advisors’ full white paper, Investing in Talent, here (PDF).
Amid complex external and economic pressures, companies must face the reality that the nature of business is changing. The pace of technological change continues to accelerate, and in an era in which the shelf life of skills is less than five years, it is critical for employers to prepare their workers to adapt to the shifting demands of work in the digital age.
The good news for employers is that current federal policy provides tax-advantaged opportunities for companies to support employees’ educational aspirations. Rooted in sections 117, 127, and 132 of the tax code, educational tax benefits are somewhat unique in that they provide a double benefit: They are both deductible for the employer, and tax free to the employee.
When our co-founders launched General Assembly in 2011, they didn’t set out to start an education company – let alone, an entirely new category of education. To put things in perspective, at the end of 2013, GA had served just over 5,000 students. By the end of this year, over 20,000 students will have completed our programs in technology, business, data, and design.
We recently partnered with Internships.com, the world’s largest internships marketplace, to conduct a survey on recent graduates entering the workforce and the digital and technical skills employers are looking for in the war for talent.