Three thousand eight hundred ninety-eight adults who had received a High School Equivalency Diploma (HSED) during 1976 in Iowa were surveyed to assess the impact of finishing a high school completion program on their placement after completion. Three hundred Iowa employers were also surveyed to analyze existing personnel policies and practices related to educational achievement, particularly the HSED. Based on responses from 1,433 program graduates and eighty-two employers, the findings indicated that HSED provides a vehicle for further education and training as well as open doors for job advancement or employment entry. The largest group of adults who took advantage of the HSED programs were either those who had left the formal education process one to five years ago or those who had been away from school for more than twenty years. It was also found that employers recognize the benefits of HSED completion. While few employers indicated that they provided financial rewards for HSED completion, most viewed this achievement as an indication of employee motivation, perseverance, and personal commitment. While most of the employers did not require high school graduation or its equivalent for employment, nearly all of them preferred this status. (The survey forms are appended.) (EM)