Part of an employee development plan is engaging employees to attend training programs. Providing training and development to employees allows employers to pinpoint the knowledge and skills they want their employees to have. Training and development programs can educate employees about new skills or provide updates on existing skills to enhance productivity. While trainings can cost a lot of money, it is a usual practice in a business setting that a reimbursement agreement is often a practical alternative to simply handing an employee a set amount of money for costs. To find out more about training reimbursement agreement, check out our free samples below:
10+ Training Reimbursement Agreement Samples
1. Training Reimbursement Agreement Sample
2. Employee Training Reimbursement Agreement
3. Training Cost Reimbursement Agreement
4. Training Payment Reimbursement Agreement
5. Training and Uniform Reimbursement Agreement
6. Standard Training Reimbursement Agreement
7. Training Expenses Reimbursement Agreement
8. Printable Training Reimbursement Agreement
9. Officer Training Reimbursement Agreement
10. Professional Training Reimbursement Agreement
11. Basic Training Reimbursement Agreement
What Is a Training Reimbursement Agreement?
When a company offers a training program or to fund an educational program of an employee, it is not without a cost. Some trainings may come within a budget but those that exceed it would require the management to somehow balance the cost by offering a training reimbursement agreement or sometimes referred as training bond agreement. This is a deal between two parties to repay one party for costs undertaken in a specific venture. It will set out how much the training costs, who is providing the training and who is responsible for paying for it in the first instance. Reimbursement agreements are often subject to specific terms in order to qualify for repayment.
How to Compose a Training Reimbursement Agreement?
Training employees can be an expensive venture. Yet trainings can help improve their work skills, for better performance. If the employees decide to leave the organization, an employer can demand that they reimburse the training costs. However, this can only be done effectively where there is a well-designed employee training reimbursement agreement. Here are some guidelines that can help in composing a training reimbursement agreement:
The first portion should contain the declaration between the employer and the employee, the business name or employer’s name and the employee’s name. This includes at least a sentence depicting that the employee and their employer have entered into an agreement.
II. Conditions of the Agreement
There are different kinds of training programs offered by a company. All which would depend on the specifications needed for their employees. Most common are as follows:
- Trainings which presented initially by the company but offered by a third party. For instance an employee in an airline company tries to learn a new system for booking flights, the company sends out the employee for a training but learning this system requires a third party involvement.
- Organization gives external training to the employee, hoping that they will remain in it for a certain period.
- A training in which is offered by the company yet the requirement is that an employee should agree to remain in the company for a certain time and they agree to reimburse any training costs, should they leave which this is referred to a training bond agreement.
III. Reimbursement Plan
The company must summarize the reimbursement plan for their employees based on the time they leave the organization, from the time of training completion. This would depend again on what kind of training and agreement has concurred.
IV. Other Components for the Reimbursement Agreement
- Date of termination of the agreement- For example, the agreement is canceled after 2 years after the completion of training or employee termination
- Agreement to return any materials or devices that are related to the training.
- Request on the employer by the employee to deduct any compensation to pay for the training expenses.
- Request by the employee to have their subsequent employer manage the training reimbursement.
Are Training Agreements Legally Binding?
Yes, training agreements are legally enforceable contract that sets out the terms and conditions of any training that are provided for the employees.
Can a Company Charge an Employee for a Training Program upon Resignation?
In fact they can, as long as it is clearly stated in the training agreement contract. So it pays to carefully read what is written before agreeing and signing the document.
What is a Training Contract?
This is a the final stage of training for certain professions such as solicitors and accountants and so it is a necessity that anyone wanting to become either a solicitor or accountant acquires one.
Employee trainings are one of the best investments a company could make to enhance the skills and knowledge of their employees. Not only can they help their careers, but the company itself would increase employee retention and employee satisfaction.
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