The world’s largest retailer Walmart
is topping up the investment game in efforts to retain talent by investing nearly a whopping $1 billion over the next five years paying for full college tuition and book costs at some schools for its US workers.
The program includes 10 academic partners ranging from Johnson & Wales University, the University of Arizona, the University of Denver and Pathstream will be added to education institutions which already partner with Walmart to foster success of working adults who seek to finish their degrees, according to Walmart.
Participants must remain part-time or full-time employees at Walmart to be eligible.
Walmart will be removing it’s $1-a-day fee paid by Walmart and Sam Club workers who want to earn a degree and also begin covering the costs of their books, reliving them of student loans and carving an easier path for those who aim to pursue their educational goals, the company said Tuesday.
All college tuition and books expenses will be covered for Walmart’s Live Better U (LBU) education program participants.
The program launches August 16th for associates.
“We are creating a path of opportunity for our associates to grow their careers at Walmart, so they can continue to build better lives for themselves and their families,” Lorraine Stomski, senior vice president of learning and leadership at Walmart said in the announcement. “This investment is another way we can support our associates to pursue their passion and purpose while removing the barriers that too often keep adult working learners from obtaining degrees.”
Walmart employees who take advantage of LBU by earning a certificate or degree may get a boost career wise;
“Our education offerings tie directly to our growth areas at Walmart, and what better way to fill the pipeline of future talent than with our own associates,” Stomski also said in the announcement.
In 2020, Walmart widened the breadth of LBU by including “skilled trades workforce certificates or digital certificates” within education perks which would cost their employees just $1 a day, according to a previous announcement.