Walmart will spend $1B to expand one of its most aggressive employee benefits: free tuition.
Why?? To attract and retain talent. America’s largest employer announced on Wednesday that it will cover 100% of education costs for its employees. 💯 🤓 About 1.5M part-time and full-time employees at Walmart and Sam’s Club will be eligible.
The announcement is the latest change to Walmart’s Live Better U (LBU) program, which launched in June 2018. The program started as an earned incentive which required associates to be at the company for 3 months. Now, it’s free and designed to help lower-paid associates.
Today, 52,000+ students are enrolled in LBU. The program offers full degrees, certificates, and professional certifications.
As jobless benefits expire, the labor market will once again battle for new employees. Walmart’s investment speaks to the lengths some employers will go to attract new workers. In May 2021, 25.8% of 9M job openings hailed from the leisure, hospitality, trade, transportation, and utilities industries.