Don’t know how to go about asking for financial support from your employer? We have developed a Sponsorship Guide for your use. Topics covered include why an employer should sponsor an employee, what it means to sponsor an employee, and who the organization should choose to sponsor.
Why Should An Organization Sponsor An Employee Who Wishes To Obtain A Physicians Executive MBA Degree?
Emphasis is on developing the physician as a leader. From executive leadership and team building delivered on an outdoor ropes course during orientation, to a culminating strategic team building exercise before graduation, Auburn’s PEMBA program focuses on leadership development and team building.
In many courses the professor will willingly allow the employee to complete case work and project assignments on issues critical to your organization. This not only makes course work applicable to the “real world”, but also gives the employee an opportunity to apply the latest academic principles to organizational issues, giving the employee a larger and more effective problem-solving skill set.
The cohort approach of Auburn’s PEMBA program allows numerous opportunities for the employee to network both in person and via distance. Physicians Executive MBA students have the unique opportunity to exchange knowledge with the distinguished faculty in the Harbert College of Business, other peers in the PEMBA program, PEMBA alumni and various industry experts both home and abroad. With so many avenues of experience to learn from, the employee will gain valuable insight on how to effectively negotiate through the complexity of today’s healthcare issues.
The curriculum concentrates on five fundamentals of business: Accounting, Economics, Finance, Management and Marketing—with an emphasis on tying these fundamentals together through managerial applicability, thus allowing the employee to better understand how these five fundamentals interact to support the functions of their organization.
With healthcare business strategies becoming increasingly complex, Auburn’s PEMBA program prepares the employee for managing in a changing environment. Through course work, case study, and an International Business and Operations course (conducted in Europe), our executive students have the chance to see first-hand the healthcare delivery models in other countries.
Auburn’s PEMBA program is designed to allow your employees to study anytime, anywhere. The program is designed with minimal interference to work and family, affording us the opportunity to select candidates from anywhere in the United States and the world. By utilizing only one four day on-campus residency per semester, one 3-4 day trip to Washington DC, and one ten day international trip, Auburn’s PEMBA program allows the student to spend the remainder of the 21-month program balancing work, family and school.
As an organization, there are few things one can do that are more positive than investing in the education of your employees. Organizations have to be creative in retaining their best internal talent. Sponsoring an employee in our PEMBA program not only makes a positive statement to potential executives in the organization, but also promotes loyalty and retention.
Finally, the Physicians Executive MBA program at Auburn University has been rated by both Forbes and Kiplinger as an excellent return on investment. From day one our students can apply what is being learned to the organization, greatly reducing the time it takes for the organization to re-coop its sponsorship investment.
What Does It Mean To Sponsor An Employee?
There are three primary ways in which an organization can sponsor one of its employees. While a situation where an organization utilizes all three methods of sponsorship is ideal, at the very least one method should be utilized to support the employee in his/her educational endeavors.
I. Financial Support- Although not a requirement for admission, many of our executive MBA students receive financial support (generally in the range of 15%-100%) from their organization. Auburn University provides financial aid in the form of loans, both government and private, should the student have to fund all or parts of the program on their own. We also utilize third-party billing to make it easier for organizations to support their employees and the Physicians Executive MBA program accepts Visa, MasterCard, Discovery, and American Express as well.
II. Paid time off- Another popular way to sponsor an employee is to provide paid time off during domestic and international residencies. While time away from work is reduced to a minimum, not penalizing the employee or requiring him/her to utilize vacation or sick leave is a way to sponsor someone without providing direct financial assistance.
III. Fostering an organizational climate that is supportive of executive education – Auburn’s Physicians Executive MBA program requires a 21-month commitment from not only the student and their family, but from the organization as well. It can be a very stressful time as one tries to balance work, family and school, and critical to the successful completion of the PEMBA program is an organization who openly maintains a supportive atmosphere.
Who Should The Organization Choose To Sponsor?
Auburn’s PEMBA program is looking for physicians who have professional experience from all facets of organizational life: solo practitioner, group practice, hospital administration, public health, etc. Diversity is critical to the success of the organization and our program.
Organizations should identify individuals who can mentally handle the academic components of the program. Whether it’s a course in statistics or accounting, individual exercises or group projects, our degrees are earned through hard work and perseverance.
Organizations should identify individuals who are committed to life-long learning. An advanced degree is a powerful tool in the hands of those who are committed to furthering their own skills and the skills of the organization. Advance recognition of said individuals is an excellent opportunity for the organization to recognize fast-track individuals and prepare them for positions of increasing responsibility.