Chick-Fil-A Proves Employee Education Boosts Retention
Scholarship programs and student loan repayment programs pay off in retention and employer satisfaction.
Feb 19, 2019
ALEXANDRIA – Chick-fil-A announced that it will invest another $15.3 million into its in-house scholarship program for 2019. The increased funding will be distributed to 6,000 employees this year in a program that provides employees with $25,000 in tuition assistance.
So far, 53,000 employees have been awarded $75 million for education assistance. And it’s paying off for the company.
Chick-fil-A surveyed past scholarship recipients and found that 90% intend to keep working for the company after earning their degree. It may be surprising, especially since there is no requirement for them to stay on staff. But 60% said they wouldn’t have been able to attend college without the assistance and 99.6% described the scholarships as a major employment benefit.
Many other large chains and companies are embracing education assistance. In fact, NACS has its very own Scholarship Program for individuals in the industry who hope to follow their career paths to senior leadership positions. Recipients receive an award to be used toward their undergraduate or college education.
Similarly, Papa John’s is offering to pay 100% of tuition for undergraduate and graduate online degree programs for its 20,000 employees. And a new partnership with NACS and Gradifi helps NACS retail members pay down student loans for their employees. Employee benefits like this have been shown to translate into an employer advantage and higher retention rates.
