Companies can offer workers as much as $5,250 tax-free annually to use for their education. Photo: iStockphoto/Getty Images
Companies are stepping up efforts to help employees get academic degrees. So why aren’t more employees taking advantage?
McDonald’s Corp. recently announced it would expand the eligibility requirements for its tuition-assistance program. Walmart Inc., Yum Brands Inc.’s Taco Bell, Kroger Co., meanwhile, all have announced new tuition-assistance programs in recent months. The trend reflects efforts to attract and retain workers in a competitive labor market and to help them meet the changing demands of their jobs, says Jaime Fall, the director of UpSkill America at the Aspen Institute.
But there is a disconnect here. While about 90% of midsize and large employers offer some kind of tuition-reimbursement, less than 10% of workers at companies that offer the initiatives use them annually.
This piece was excerpted from “Companies Help Employees Pay Tuition—but Few Accept the Offer” by MarketWatch’s Jillian Berman. Click here to read more.
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Tweet Speaking with @MarketWatch’s @JillianBerman, @upskillamerica’s @Jaimen8r explains what businesses are doing to promote employees’ education—and why so many workers aren’t taking advantage.
Tweet Companies are stepping up efforts to help employees get academic degrees. So why aren’t more employees taking advantage? @JillianBerman spoke with @Jaimen8r & others to get some answers.
Tweet .@McDonaldsCorp, @Walmart, @tacobell, @kroger have all introduced or expanded education assistance programs this year. So what’s stopping employees from using them?
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UpSkill America is an employer-led movement that promotes training and advancement practices to help workers progress in their careers and move into better-paying jobs. UpSkill America is an initiative of the Economic Opportunities Program.
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