Talent Studies: Investing in employee education benefits everyone

Videos

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

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Female worker loading up almond milk in a grocery environment.

Every year employees stay with their companies, 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.

Lisa Villearreal smiling in front a wall on which her multiple diplomas hang.

Learning for life 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.

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

McDonald's 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.

The Case for Talent Investment

By the numbers: View 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

Businesses save money.

The companies global consulting firm Accenture studied with Lumina funding saved millions through increased 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 percent to 50 percent higher than peers who did not use the benefit.
Health insurer Cigna saved $2.29 for each dollar invested—and participating employees saw wage gains from 43 percent to 57 percent.

Employees do better.

Besides earning credentials and gaining job experience, workers said the use of tuition assistance to advance their education led to increased:

Motivation and Confidence
Knowledge and Skills
Recognition and Support from Managers and Colleagues
Sense of Personal Achievement

REVIEW THE STUDIES

Talent Investment Pays Off

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

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.

Read the Reports

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.