While some workplaces offer to reimburse you for classes you take to advance your career or help you in a specific position, this ubiquitous coffee chain is helping their baristas get their bachelor degrees by offering to cover tuition for a four year education. Starbucks is doing this in partnership with Arizona State University and their online college programs. This isn't just limited to salaried workers either, this is open to all part-time and full-time workers.
The corporate and academic alliance addresses rising student loan debts and disadvantaged young people who simply cannot afford an undergraduate education. Starbucks announced they will pledge $250 million to cover tuition costs and help 25,000 workers graduate in the next decade. Currently over 70% of Starbucks employees don't hold a bachelor degree.
What Makes This Trend Stand Out
- Corporate Education Initiatives
- Businesses can partner with universities to offer employees tuition reimbursement or coverage to help with education costs.
- Expanding Education Access
- Companies can aim to provide education opportunities to disadvantaged young people to help with the high cost of education and student loan debts.
- Targeted Workforce Development
- Employers can offer education initiatives to specific groups of workers, like part-timers or those without bachelor's degrees.
Sectors Adopting This
- Hospitality
- Other employers in the hospitality industry can follow Starbucks' lead and offer similar education initiatives to their workers.
- Retail
- Companies in the retail sector can offer education opportunities to their employees to help with career advancement and development.
- Education
- Universities and schools can work with businesses to provide educational opportunities to employees or offer more accessible online and distance learning programs.
