Talent Studies: Investing in employee education benefits everyone

Overview Video

It pays to invest in employees.

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.

Still from explainer video depicts piggy bank with the savings growth figure of employee talent investment.

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Infographic

The Case for Talent Investment

By the numbers: View this infographic for key findings from our research.

Employees gain skills and opportunities for career advancement. Employers build more qualified workforces and boost their bottom lines.

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What We Learned

Employers save money.

The companies Accenture studied saved millions through higher worker retention as a result of internal promotions and transfers.
Discover Financial Services saved $2.44 for each dollar invested in tuition reimbursement. Participating employees experienced wage gains 41–50% higher than their peers who did not use the benefit.
The health insurance giant Cigna saved $2.29 for each dollar invested—and participating employees saw wage gains from 43–57%.

What We Learned

Employees feel better.

Besides earning credentials and job experience, employees also said their use of tuition assistance to advance their education increased:

Confidence
Motivation
Knowledge and skills
Recognition and support from managers and colleagues
Their sense of personal achievement

Videos

Meet a few of the workers and employers participating in tuition reimbursement programs in the workplace.

McDonald's location where George Saliba is owner and operator.

McDonalds Provides Archways to Opportunity.

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. Watch video.

Lifelong learning has become the new normal, and the key to a fulfilling life.

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. Watch video.

Every year an employee stays with the company, they increase in value.

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. Watch video.

Read the Reports

Talent Investments Pay Off

Studies show time and time again that investing in employee higher education results in cost savings.

Lumina worked with global professional services company Accenture to uncover evidence that tuition-assistance programs help build employee skills, improve corporate bottom lines, and increase employees’ involvement in the community.

Participating companies included Advocate Healthcare, Discover Financial Services, Cigna, and Regional Bank.

Read the reports

Investing in talent pays off.