Educational assistance programs continue to gain steam with several large companies—McDonald's, Starbucks, and Chipotle all recently added or expanded their tuition reimbursement programs. The International Foundation administered a survey to find out why this classic employee benefit has remained so popular.
About five in six (83%) organizations offer some sort of educational assistance or tuition reimbursement benefit to their employees. Their top reasons for offering educational benefits are to:
- Retain current employees (52.1%)
- Maintain/increase employee satisfaction and loyalty (42.6%)
- Keep employees current on evolving skill sets required for organization (41.1%)
- Attract future talent (26.6%)
- Maintain/increase innovation (14.2%)
- Maintain/increase productivity (13.5%)
Almost 75% of organizations say their educational assistance offerings are successful. Forty-five percent of programs were successful in retaining current employees, 44.3% kept employees current on evolving skill sets required for the organization, 39.4% maintained/increased employee satisfaction and loyalty, 15.6% attracted future talent and 12.8% maintained/increased productivity and innovation.
View Survey Results