If I Was Running a Service Business, I'd Follow Starbucks on Tuition Aid So Fast It Would Make Your Head Swim...
What's the value proposition when it comes to people working at your company? If you have a hard time answering that, you're undoubtedly struggling to find people who want to work for you in this economy - where talent has more options than they've had for awhile, or at least any time since 2009.
Some of creating a value prop comes down to what's valuable to the core positions that make up your company. That's why I love what Starbucks recently did with Tuition Aid. More from Bloomberg:
"Starbucks Corp. will now pay full tuition for its workers to get a degree from Arizona State University online, instead of just partially footing the bill, giving it another way to entice employees in a tightening labor market.
Employees who work at least 20 hours a week will be eligible to have full tuition, the company said in a statement Monday. Starbucks founded the college program in 2014, with full-tuition reimbursement available only to juniors and seniors, while students in their first two years got a stipend of $6,500 to cover about half their fees.
Now, Starbucks is making full tuition available to more than 140,000 U.S. employees."