Employee Education for the Retail Industry
The retail industry is presently experiencing a major shift caused by the increased demand in e-commerce and automation. Retail businesses must learn to adapt to the current industry changes for the future success for both the individual employee and the business as a whole. Retail businesses that offer educational benefits such as tuition assistance and advanced training provide their employees the opportunity to develop new skills needed for individual career development and long term employment, while saving company dollars.
College Gateway for America provides your employees with a debt-free education that can be essential for the future success of your business.
For your retail business,
College Gateway for America will:
Increase employee productivity and satisfaction
Build a recruitment advantage against competitors by attracting and retaining quality employees
Increased revenue growth
Reduce the cost of hiring, onboarding and training
Reduce turnover by encouraging long-term employment
For your retail employees,
a post-secondary education through CGFA will:
› Enhance skills and knowledge for better performance
› Provide a pathway for career growth and discover new roles within the company
› Career advancement with higher wages
› Increase job satisfaction
› Earn a college degree, debt-free
How Talent Investments Have Paid Off
According to the most recent statistics from the US Bureau of Labor, the retail industry has one of the highest turnover rates compared to any other industry. However, recent studies have shown that retail companies who use best practices to retain employees, such as tuition assistance programs, have seen a significant decrease in turnover and absenteeism and higher rates of promotion, transfers and retention. According to a recent TRP (Tuition Reimbursement Program) ROI analysis1, participants had, on average, wage increases that were up to 50% greater than those who did not participate. Businesses that conduct these type of TRP ROI studies report a positive Return On Investment as well as a huge cost savings to the business. This specific TRP analysis showed an overall ROI of 144% with $10.9M in company savings.
1TALENT INVESTMENTS PAYOFF: Executive Briefing | Discover Financial Services Realizes Returns for Investments in Tuition Reimbursement by Lumina Foundation
It's simple: By providing your employees with a debt-free education, you will ensure the future success of your business.
These online classes are great for people that have full-time jobs and kids because they’re flexible. I just had a baby and my life is pretty hectic right now, so I have to work hard to find time to study and do homework. Sometimes it can be difficult to manage my time, but my professors are awesome, and they work with me to accommodate my schedule because they want me to succeed! I am still in the process of learning how to best manage my time, but I am beginning to get a better feel of what it looks like to be a mother, student, and employee. Overall, it has been a very good experience and I am happy that I am doing it.— Jessica R., TCC