Education and business have a very important relationship. Businesses need people who have certain knowledge and skills, and while college isn’t the only way people can gain them, it is certainly one of the easiest and most reliable measures of what somebody is equipped to do. With the massive rise in online education, people can now do anything from a business degree to a masters in public health online, and this makes getting a bachelors or post graduate level of education from a good college like the University of Arizona accessible to a lot more people. But how do online degrees help businesses? Here are three ways they do:

Employees Can Study While Working

Because people can take online degrees in their free time and work at their own pace, you can incentivize employees to further their education in fields that benefit you as a company while keeping them on in their current roles. If you want MBAs in your senior roles, you can offer to pay for promising staff to undertake online MBA courses. This costs much less than sending them to college, and they can also keep working – though with extra time off for exams and study – while they do the course. Whatever qualifications you’d like to bring in to your company, it can be better to give existing people the chance to do something like an online MPH degree or MBA than to hire people in with the skills, because these people already know your business and increasing their salaries will cost less than hiring additional senior people with the qualification.

They Can Be Cheaper Than In House Development Programs

Training and development can be an important part of attracting and retaining staff and keeping them feeling like the business is doing good things for them. In house development programs, or even sending people away on courses run by training providers, can be very expensive – in fact, sending someone on a two week course in one programming language can cost as much as paying for them to do a whole online degree that will give them the same skills and much, much more. As an approach to staff development, offering the option to study for online degrees not only keeps costs down, but also gives your staff a broader range of knowledge and skills for your budget.

A Wider Pool of Qualified Candidates

Another way online degrees help businesses is that they create a wider pool of people with a given qualification, and these can include people who wouldn’t necessarily fit with the stereotypical young graduate. Older people changing careers who have lots of experience, as well as people from all kinds of other backgrounds, take online degrees rather than going to private colleges in person, and this can help you choose more interesting people to build a business around.

These are just three reasons why the advent of good, credible online degrees is good news for owners of businesses of all sizes and across all kinds of industries.