Fast food, long-term employment
Every college student could use a little help. Chains, such as Starbucks, offer employees a College Achievement Plan. According to the Bureau of Labor Statistics, “The restaurant industry has one of the worst employee retention rates. A whopping 72.5 percent of people left their food service or hospitality gigs in 2017.” However, these chains found a way to reverse that percentage by providing some incentives to their employees.
Starbucks launched its College Achievement Plan giving employees full scholarships to the Arizona State University online program.
Laura Becker, the store manager at Starbucks on North Street in Danbury, said, when asked whether she found this program to be beneficial, “Yes, absolutely. It empowers people by giving them a financial outlet and providing opportunities to save money for the future.” Laura and two other employees are part of the College Achievement Plan on North Street. Once enrolled in the program you receive 24/7 tutoring on various subjects and a choice among 60 undergraduate degrees.
Not only the students, but also the restaurants themselves can indulge in the benefits of these programs. By giving their employees a reason to stay, they won’t have to train new employees and customer experience will soar. Hiring and training employees is time consuming and expensive and any company could use a motivated, veteran employee to help grow their businesses.
Tony Carnevale, a research professor and director of the Georgetown University Center on Education and the Workforce, mentioned to CNBC that, “Employees that sign up for these programs are typically people who are looking for upward mobility in the workplace and are more likely to perform better and provide better quality experiences for guests.”
Many individuals want to go to school, but the burden of expenses weighs deeply in their minds. Jumping from job to job, trying to make a buck will only hurt the company. When someone is paying for your college, not only will it make you happier, but it will take away that financial burden allowing you to focus on your future endeavors.
With colleges and universities continuously raising the tuition, the thought of going to school for some is out of the question more than ever.
“Americans owe over $1.48 trillion in student loan debt, spread out among 44 million borrowers. That’s about $620 billion more than the total U.S. credit card debt,” according to studentloanhero.com.
Businesses are not only helping themselves by providing programs to pay for their employees schooling, but also they’re helping lives in our future society.
Jayson Sementilli is a resident of South Salem, New York, and a student at Western Connecticut State University in Danbury.