Target's commitment to its employees extends beyond a paycheck, now boasting a 100% tuition coverage program for over 340,000 team members. Since their first day, these team members can explore 250+ programs at more than 40 colleges and universities nationwide, without shelling out a dime.
Target plans to cover up to $10,000 annually for master's degrees within their network of partnering universities, including prestigious institutions like the University of Arizona, Oregon State University, and historically black colleges like Morehouse and Paul Quinn. Moreover, employees can also undertake numerous certificates and bootcamp programs to sharpen their skills.
Target is collaborating with Guild Education and investing $200 million over the next four years to make this possible. This move comes as retailers nationwide struggle to recruit and retain talent in the face of fiercer competition. Last week, Walmart, the largest retailer in the US, announced it would cover full education costs and textbooks for its American employees at select colleges.
Further Insights:
Top retailers like Target and Walmart are providing full tuition coverage and financial aid for employees' education to attract and retain talent. Their strategies include tuition-free programs, partially funded master's programs, educational supplies reimbursement, tuition reimbursement for accredited schools, and partnerships with educational institutions for exclusive discounts and competitive student loan refinancing options. These initiatives help employees manage college costs, improve their skills, and contribute to their long-term financial stability.
