HR leaders continue to face retention and recruitment challenges in the wake of the Great Resignation. In March of 2022 alone, the Bureau of Labor Statistics reported 4.5 million workers in the U.S. voluntarily quit their jobs. Organizations that understand what employees want, will be in a better position to compete for top talent.
As an education provider that partners with employers to provide workforce education and an employer competing for talent, we commissioned a survey to answer that question. Specifically, we wanted to understand current employee sentiment and to find out if they prioritize continued education when weighing their employment options. The results were clear: 83% of respondents believe employers should be investing in employees’ continued education.
HR leaders seeking ways to distinguish their workplace from competitors should consider these important findings.
1) Even happy employees are looking
One of the most striking findings from our survey is that 78% of respondents report that they are happy at their current job. However, nearly half (46%) of those happy workers are still open to new job opportunities and about 2 in 5 are actively looking for a new job.
The results point to the possibility that employees are looking for new opportunities simply because they can. Specifically, 67% of workers feel they should be on the lookout for new jobs because the current market is favorable for employees.
2) Education benefits could help employees feel more valued and loyal
Employees also revealed they feel more valued and are more likely to stay when employers invest in their education. Over three-fourths (76%) of respondents who indicate that their current employer offers education benefits say they feel valued by their current employer. Employees also express more loyalty towards employers that offer education benefits. About 3 in 5 respondents who say their current employer offers its employees tuition benefits say they would not look for another job because they feel loyal to their current employer.
Additionally, 58% of respondents who did not indicate that their current employer offers tuition benefits say they would likely remain with their current employer if their current employer offered tuition benefits. In addition to increasing loyalty, education benefits may make employees feel more satisfied in their current position. 62% of respondents who indicate they feel incomplete, stagnant, frustrated and/or uninspired at their current job believe they would feel better about their current job if their employer paid for workforce training or continuing education.
A majority (62%) of respondents also said they would be likely to change jobs if recruited by another employer that offers better tuition benefits, even if pay and other benefits were the same.
3) It’s not enough to just offer the benefit
We’ve been educating working adults for more than 130 years, and there is one characteristic commonly seen in our students—they are extremely busy. They are juggling multiple responsibilities including work and childcare. Offering tuition assistance alone is not enough to ensure they take advantage of it. The survey found that of those who indicate their current employer offers its employees education benefits, nearly half (49%) report they have not used their employer-sponsored tuition benefits for a variety of reasons.
The majority (74%) of respondents say they would use an employer-sponsored tuition benefits program if they had the flexibility to choose what to study and which school to attend. The survey also found that three quarters (75%) of respondents say they would be more likely to use an employer-sponsored tuition benefits program if their employer paid the costs of tuition upfront, rather than reimburse the cost after the fact. Additionally, 74% of respondents are somewhat or very likely to make a job change if it means they would have more flexible time off to re-skill or pursue a new credential (e.g. earn a degree, certification, professional development training, etc.)
Importantly, employer sponsored education also benefits the employer by continually skilling the workforce. For example, we partner with more than 500 organizations — including corporations and community colleges —that invest in their employees to offer access to discounted education programs. They are transforming their workforces by offering flexible degree programs for their employees and courses designed to teach skills that employers need, while helping employees advance their careers.
As our country continues to grapple with the workforce changes brought on by the COVID-19 pandemic, employers must adapt to meet evolving employee demands. Employees are eager to continue their education and bring new skills to their employers. Employers willing to invest in flexible and accessible education programs stand to gain in terms of talent attraction, development and retention.
For more information about employer-sponsored education programs, visit www.workforcedevelopmentsurvey.com.
