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Tuition-assistance programs help employees obtain the skills and education they need to advance in their careers while increasing company loyalty. Hear from Ty Kelly of Wegmans Hillside Work Scholarship Connection Program about how they help young employees build skills that foster lifelong learning and careers.
Our research on Cigna’s Education Assistance Program found that participating employees were more likely to stay at the company than their peers. Hear how Cigna’s program helped Lisa Villarreal reach her goals of going back to school while continuing to work and support her family.
Every year, employers spend about $177 billion on formal education and training for employees. Investments like these helped George Saliba gain the skills to go from McDonald’s employee to McDonald’s owner/operator.
Employees gain skills and opportunities for career advancement. Employers build more qualified workforces and boost their bottom lines.
What We Learned
What We Learned
Besides earning credentials and gaining job experience, workers said the use of tuition assistance to advance their education led to increased:
REVIEW THE STUDIES
Studies show that investing in higher education for employees generates cost savings.
Lumina worked with global professional services company Accenture to uncover evidence that tuition programs help build workers’ skills, increase corporate profits, and boost employee involvement in local communities.
Participating companies included Advocate Health Care, Discover Financial Services, Cigna, and an anonymous regional bank.
Tuition-assistance programs are often considered an employee benefit expense, but research by global consulting firm Accenture shows investing in employee education delivers benefits to businesses and individuals. When employers invest in their workers, they help build skills, improve corporate bottom lines, and increase employees’ loyalty, all while helping them access educational and career advancement opportunities.