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Target, the eighth-largest retailer in the U.S., announced new benefit programs for its workers this week. The company revealed that it will be offering 100% free college tuition to its team members, and books are included as well.
According to CNBC, Target is offering new perks in a bid to lure more people into applying to the company. The company said on Wednesday, Aug. 4, that it will set up an educational scheme for a debt-free way to earn a college degree, including payments for graduate programs.
The covering of free full tuition fee is set to start in the fall, and this is available for both part-time and full-time employees. The cost of tuition, book and other fees are included for workers to enjoy.
They can choose to pursue an undergraduate course at more than 40 educational institutions, and Target will pay for everything. The firm will also be funding advanced degrees and pay up to $10,000 per year for master’s programs.
Around 340,000 employees stationed at Target’s store outlets, offices, and distribution centers across the United States will qualify for the education perks on their first day. The firm will cover 100% tuition fees for 250 programs that are aligned to its business, including business management, computer science, and information technology courses.
Target will be investing $200 million for this free tuition and books for employees, and it will be released over the next four years. The company formed the project with Guild Education, a group that manages corporate education assistance programs. Some of the participating schools for this scheme are the University of Arizona, Cornell University, Oregon State University, Morehouse College, and the University of Denver.
“Target employs team members at every life stage and helps our team learn, develop and build their skills, whether they’re with us for a year or a career,” Target’s chief human resources officer, Melissa Kremer, said in a press release. “A significant number of our hourly team members build their careers at Target, and we know many would like to pursue additional education opportunities.”
