Debt. One of the biggest reasons people don’t attend college. The cost of earning a bachelor’s degree without a scholarship can cost around $25,000 for a year at a public four-year college, according to Campus Explorer.
This amount is the national average for tuition. Then students must pay for food, books, housing, and you better hope that college isn’t private because the cost of tuition is almost triple per year.
So, what should students do? Rack up a bunch of debt and take out loans? The answer, find a company that will pay for college.
A year ago, Starbucks introduced a program that would pay for their employees to attend Arizona State University online. The global coffee shop opened this opportunity to all full and part-time employees in the U.S. who did not have a four-year degree. In addition, the company made no obligation for employees to stay at Starbucks after graduating.
Starbucks isn’t the only company to offer this. Companies across the U.S. offer their employees discounted tuition including Target and Home Depot. It’s a great strategy to make employees like your brand better, but is it worth it to the companies? A happy employee isn’t the only stakeholder that companies need to impress. Investors want to make sure companies are putting their money towards building a superior brand. Helping student employees pay for college allows employees to have a better skill-set, they may apply for jobs higher-up in the company, and it creates a positive image.
From a PR perspective, companies should invest in their employees more often. The baristas at Starbucks, for example, are an important part of the company. Without them, the company can not fully function. They provide the quality and superior service to customers. Therefore, a happy, educated, solvent employee may help your company flourish. What do you think? Does your employer offer something similar?