Unigo, a leading scholarship database and scholarship management service provider, has uncovered the top reasons why more organizations are turning to scholarship programs to support their more traditional outreach efforts. The company analyzed their database of over 3.5 million scholarships and the organizations behind them to determine why scholarship programs are becoming such a compelling option for companies.
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- Retention and Employee Morale: Scholarships make your business a work destination. Scholarships boost morale and engage employees. Scholarships for employees and dependents can be more efficient than tuition reimbursement programs.
2. Help Identifying Future Employees: Identifying a business’s specific needs or skills and creating desirable corresponding scholarships may provide a pool of future interns or employees.
3. Building Brand Image: Is your company’s product targeted to high school or college students? Do you have social causes at the center of your company culture? Creating a scholarship is a great way to build trust and communicate your values. Scholarships also create a strong sense of loyalty between students and businesses.
4. Build Backlinks:Adding a scholarship to websites and social media accounts will align you with links from both schools and scholarship databases.
5. Tax Benefits: Certain scholarship awards will qualify as a tax deduction, provided they meet specific regulations.
While the benefits of a scholarship program are clear, many organizations face a lack of infrastructure and expertise to manage a complex application and promotion process. To support organizations interested in launching and running successful scholarship programs, Unigo now offers the myscholarship app to help companies and organizations manage their own scholarship programs. UNIGO’s solution helps organizations by providing the application portal, generating compliant scholarship rules, collecting submissions, reviewing applications, marketing, and disbursing funds.
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