Latest Employer ROI Study
Study Finds Investing in Employee Higher Education Results in Cost Savings for Major Financial Services Company
INDIANAPOLIS (Nov. 30, 2016)—Discover Financial Services, a leading banking and payment services company with 100 percent U.S.-based customer service, reaps $1.44 in savings for every dollar spent on tuition assistance for employees. Read full press release »
Previous studies:
- Advocate Health Care | Sept. 27, 2016
- Cigna | Apr. 25, 2016
Talent Investments Pay Off (Discover Financial Services)
Discover Financial Services Realizes Returns for Investments in Tuition Reimbursement
From 2010 to 2013, Discover’s tuition reimbursement program produced an overall 144% return on investment as a result of avoided talent management costs due to higher rates of promotion, transfers and retention and lower rates of absenteeism. Employees participating in the program received, on average, annual wage increases that were at least 41% greater than non-participating employees, while helping Discover save $10.9M.
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Talent Investments Pay Off (Regional Bank)
Regional Bank Realizes Returns on Investments in Education Assistance
From 2011 to 2015, Regional Bank's tuition reimbursement program produced an overall return on investment of 10% ($700K in net savings) as a result of avoided talent management costs. Workers who took advantage of the program achieved increased career opportunities.
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Talent Investments Pay Off (Advocate Health)
Advocate Health Care Realizes Returns for Investments in Education Assistance
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Communications Technology Company Realizes Returns for Investments in Tuition Assistance
The second study in the series: Talent Investments Pay Off
From 2012 to 2014, a large communications technology company (masked as “Large CommTech”) provided employees $138M in tuition assistance through its Tuition Assistance Program (TAP). That program resulted in 39.2% ROI ($54.2M net savings), as a result of avoided talent management costs. Both the business and employees benefited as a result of TAP investments.
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Talent Investments Pay Off
Cigna Realizes Return on Investment from Tuition Benefits
An analysis of health insurer Cigna’s Education Reimbursement Program (ERP) shows every dollar the company puts into the program is returned and generates an additional $1.29 in savings—a 129 percent return on investment. Lumina Foundation, a national foundation focused on increasing postsecondary attainment partnered with Cigna to design the study, which was conducted by Accenture, a leading global professional services company.
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