Tuition reimbursement programs aren’t new, of course, but they are becoming a more attractive incentive these days.
Hiring and retaining employees has been a battle throughout the coronavirus pandemic, so companies are upping their game, waving perks like signing bonuses at workers.
Now, the latest trend entails major employers like McDonald’s offering tuition reimbursement programs that not only advance employees’ personal development but groom a company’s next crop of leaders.
“A great example to look at is McDonald’s and its Hamburger University,” business coach Peter Boolkah told The Food Institute. “I started off cleaning the trash room and worked my way up to a senior position.
“McDonald’s has a world-class training program that allows employees to skill up, add more value to the organization and as a result, earn more money. It’s a fantastic example of the more you learn the more you earn. Starting off with low pay is not the issue; having no prospect of moving away from low pay is the problem.”