Giving Compass' Take:

• Companies are looking to attract and retain talent through education benefits that help employees pay for a degree. Companies offer a variety of packages, but they all work to benefit employees and society. 

• What package is the best offering for employees? How can more companies join this trend? 

• Learn how to implement corporate social responsibility

Working as a Starbucks barista, Susana heard about the College Achievement Plan and signed up the day it was announced. “It’s my ticket to go back to school,” she said.

Part of a growing trend, Susana works for a company that provides education as an employee benefit. It’s primarily a talent development strategy. In some cases, it’s retention strategy. More broadly, it’s a corporate social responsibility strategy.

Full and part-time U.S. partners (employees) at Starbucks enrolling in ASU Online are eligible for full tuition coverage toward a bachelor’s degree. Partners receive support from coaches and advisors, 24/7 tutoring on a variety of subjects, and a choice of more than 60 undergraduate degrees. The Starbucks reimbursement covers tuition cost beyond any aid provided by ASU or the federal government.

Another strategy (one that’s more aimed at retention than advancement) is helping employees wipe out their student loans. Student Loan Genius built a platform for employers to help their employees pay their student loans. Their customers include financial giants New York Life, Prudential Financial, John Hancock, and Mastercard.

Read the full article about education as a benefit by Tom Vander Ark at Getting Smart.