Retail organisation Walmart has launched a new tuition benefit for all US employees and eligible employee family members.
The new benefit, which was implemented on 30 May 2018, has been designed as part of a broader approach to help employees succeed by facilitating easier access to a college education.
The tuition benefit, offered in partnership with education benefits platform Guild Education, allows employees to attain degrees in supply chain management or business through three different schools: the University of Florida, Brandman University and Bellevue University.
Walmart is subsidising tuition costs, as well as the cost of books and fees, in order to minimise potential student loan debt. Under the scheme, employees have to contribute $1 (£0.75) a day towards their college degree. Employees are also able to build college credit prior to undertaking their degree course by completing paid training at Walmart Academies.
The new tuition benefit additionally provides employees with a Guild Education coach, who can support staff members on aspects such as the application and enrolment process or selecting the appropriate degree.
Walmart has commissioned The Lumina Foundation to undertake an independent evaluation of the outcomes of its new scheme.
The tuition benefit is available for full-time, part-time and salaried US employees who work in Walmart’s stores, supply chain and home office. Sam’s Club employees are also able to utilise the iniative.
The new benefit will run alongside a variety of existing educational benefits offered by Walmart. This includes employer-paid high school diplomas or general education diplomas, tuition discounts, financial aid assistance and education coaching, and access to professional development courses.
Greg Foran, chief executive officer at Walmart US, said: “Investing in the personal and professional success of our [employees] is vital to Walmart’s future success. We know training and learning opportunities empower [employees] to deliver for customers while growing and advancing their careers.”