Debt-Free Education ‘Life-Changing’ for Front-Line Workers – SHRM

by | Oct 31, 2022 | Education

​It’s one of the hottest HR trends in corporate America—debt-free education benefit programs where employers cover 100 percent of tuition costs in order to attract and retain workers in a hypercompetitive labor market. The list of companies announcing debt-free education benefits exploded during the pandemic and continues to grow each week.”Given the increasing competition for talent, companies are seeing the value of providing employees with the opportunity to pursue higher education,” said Rick Benbow, regional vice president at Western Governors University, an online learning provider and frequent partner in employer-provided education benefits. “These programs can reduce employee recruiting costs, improve employee satisfaction and loyalty, reduce employee turnover, and enhance business results.” Proponents of debt-free education say that these initiatives impart an even larger contribution to society that goes beyond talent attraction and retention—they provide opportunities for people with economic barriers to secure a formal education or develop new skills and experience upward mobility. “Debt-free upskilling and reskilling is a head and heart decision,” said Natalie McCullough, president and chief commercial officer at Guild Education, one of the leading providers of education assistance benefits. “Forward-thinking employers can invest in their employees, unlocking life-changing opportunities for personal and p …

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