NEW YORK, Nov. 1, 2016 /PRNewswire/ -- Today, at the Council on Foreign Relations, United Technologies' (NYSE: UTX) Chairman & CEO Gregory Hayes said that employee education and skills training needs to be a priority for our country, as he made the case for business to take the lead in educating today's workers for tomorrow's jobs. Business should provide employees the opportunity to gain new skills and should partner more closely with state, local and federal governments, unions and educational institutions, Hayes explained.
"When business takes the lead in providing employees with the opportunity to gain new skills, it is the ultimate public-private partnership—delivering benefits to companies, employees and broader society as a whole," he said. "Employee education and skills training need to be a priority for our country."
NOTE: To read full the remarks, as prepared, for today's Council on Foreign Relations CEO Speakers Series event, click here. The Council on Foreign Relations will post a full video of the conversation on their CEO Speaker Series page here.
Using United Technologies' Employee Scholar Program as an example of the value education and lifelong learning bring to business and society alike, Hayes called on the private sector to provide education and skills retraining and the government to reform the tax code to "give education the gravitas it deserves." This includes incentivizing employees to participate in education programs:
- Tuition reimbursement should not be treated as taxable income for employees. "We should encourage and celebrate those who have the initiative to expand their education," Hayes said.
- Higher education costs should be tax deductible, the way mortgage interest is tax deductible to encourage home ownership.
"We have great reason to be optimistic about the future, here in the U.S. and around the world," Hayes said. "We have to do more... We all need to do a better job of helping our workforce adapt to change and seize the opportunities that are and will be out there."
About United Technologies
United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. By combining a passion for science with precision engineering, the company is creating smart, sustainable solutions the world needs. For more information about the company, visit our website at www.utc.com or follow us on Twitter: @UTC.
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SOURCE United Technologies Corp.