by Anne D’Innocenzio
NEW YORK (AP) – Target Corp. is joining a growing list of retailers and restaurant chains offering educational support at select online institutions for their front-line employees in a fiercely competitive job market.
Minneapolis-based Discounter said Wednesday it will spend $200 million over the next four years to provide its employees with free bachelor’s and associate degree programs as well as certificates in business-oriented majors at select institutions such as the University of Arizona and the University of Denver. planning to spend. . Textbooks will also be free.
Like other big corporate names like Walmart, Taco Bell and The Walt Disney Company, Target is teaming up with Guild Education, a Denver startup that negotiates deals between companies and colleges for the program. Target says it’s offering one of the most comprehensive programs ever.
Target’s program will be available this fall to more than 340,000 US-based part-time and full-time students. Workers, including those on their first day at work, can attend classes in more than 40 schools, colleges, and universities. They can choose from over 250 business programs such as computer science, operations and business management.
For those interested in pursuing educational opportunities outside of select programs within the Guild, Target says it will provide their educational institutions with a direct grant of up to $5,250 for non-master’s degrees and up to $10,000 for master’s degrees each year. will provide payment.
Melissa Kramer, chief human resources officer at Target, said in a statement, “A significant number of our hourly team members build their careers at Target, and we know many want to pursue additional education opportunities. ” “We don’t want cost to be a deterrent to anyone.”
Target’s move follows an announcement by Walmart last month that it would cover the full cost of tuition and books for its 1.5 million part-time and full-time Walmart and Sam’s Club workers in the US through its Live Better You program. The nation’s largest retailer and private employer charged employees $1 per day to participate. It said it would invest about $1 billion in career-driven training and development over the next five years.
Walmart told reporters last month that those who participate in an education program that began in 2018 are twice as likely to be promoted and retained at a significantly higher rate than other workers.