This morning I had the pleasure of taking a few minutes to sit down with Rachel Carlson, CEO and Co-Founder of Guild Education and one of her colleagues Zach Rowe. I was interested in knowing more about what Guild Education has going on and what the Guild sponsored session Beyond Starbucks/ASU: The Future of Education Benefits has in store for us Tuesday morning at 7am!
Education as a benefit could be very valuable in a hiring environment that screams skills gap and talent shortage every day. Without getting into the numbers we can reflect on our own experiences at work and looking for/keeping talent & the challenges our own organizations are facing. Education as a benefit could be an effective strategic move for your organization, but I’ll let you hear it from Rachel and the panel yourself.
In talking with Rachel we covered a lot of thoughts on education as a benefit, so I’m going to do my best to sum them all up. So here’s the break down- Guild Education’s approach is about meeting the employees where they are. I personally think that is vital in considering any benefit for your organization, but I’m thrilled to know that’s Rachel’s approach for education. They are working with some big name companies implementing options from GED through Masters program- options and flexibility go a long way for today’s consumers!
A lot of times there is educational assistance for corporate office employees or executive employees, but RARELY for the front line workers. Hearing that companies like Chipotle (as in hourly food service workers) is using this as a benefit to recruit AND RETAIN employees intrigued me. I mean, this benefit is really doubling the retention of their front line workers? I get how this could help with recruiting right? Pretty obvious without even digging in to the strategy, but retention? Wouldn’t these line workers leave after they finish earning more education? Chipotle has a wonderful program for promoting from within, but there’s only so many promotion spots. Turns out employers will generally see a 3-8% enrollment in the program. Think of it this way, your top talent is taking advantage of this and that means your top talent is staying with you instead of quitting and going to work for a competitor. They’ve also done research that says 20-30% wont use it, but will value it as a benefit. Maybe those 20-30% have plans to use it later or maybe that just means encouraging continued education is a personal value that they appreciate the organization providing.
As for the employer side of this benefit, Rachel and her team sit down with potential clients and work through the numbers. That’s right, they can sit down and see if the ROI is going to be a profit center or just another benefit cost. I understand that cutting benefits when your organization is looking to save money quickly is an easy go to for the purse holders in your organization, but when there is a possibility of a benefit being a profit center you should at least stop and listen. While I was tossing my skeptical questions to Rachel to see if this was a sound argument and how this might play out in some companies back home she made it real simple for me: “It needs to cost less than turnover.” In this case, it sounds like the Guild Education team is going to equip you with the knowledge and numbers you need to make a credible pitch.
I believe education is so important and I could go on and on about my conversation with Rachel and Zach this morning, but I want you to go to their session Tuesday morning at 7am and find out the details for yourself! Feel free to reach out to Guild directly at firstname.lastname@example.org.