EMPLOYEE EDUCATION IN 2018: STRATEGIES TO WATCH

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Featuring:
Bettina Crumby
J.B. Hunt
ElisaVincent
Bright Horizons
Jonathan Corke
EdAssist

About EdAssist
© 2017 Bright Horizons Family Solutions LLC
We help organizations design, manage, and measure
education assistance programs, including:
6
§  Tuition reimbursement §  Certificates and non-degrees
§  Student loan repayment §  Dependent scholarships
Help 150k working adults
Gain new skills through education
Each year, we:
Administer $500m
In education payments
Manage 220+
University partnerships

MeetYour Presenters
Bettina Crumby
Talent Development Manager
ElisaVincent
Sr. Director,Talent Development
Jonathan Corke
Product Marketing
EdAssist
In conversation with…

Today’s Agenda
1.  Market dynamics
2.  Emerging strategies
3.  Examples in practice
4.  Takeaways & Q&A

MARKET DYNAMICS
Factors driving the growth of “return to work” programs

Talent in Short Supply

…And So Are Skills
58%
63%
73% 72%
77%
50%
55%
60%
65%
70%
75%
80%
85%
90%
2013 2014 2015 2016 2017
CEOs concerned about the availability of key skills
Annual CEO Survey, PWC

Technology is Driving Change
“One-third of new jobs created in the United
States in the past 25 years were types that did not
exist, or barely existed, before that point.”1
“The half-life of a learned skill is 5 years.” 2
“Knowledge workers are nearly half of the U.S.
workforce – and the fastest growing segment.” 3
1) McKinsey & CO | 2) Deloitte University Press | 3) Wall Street Journal

Education is Essential
53%
36%
28% 27% 26%
19% 19%
0%
10%
20%
30%
40%
50%
60%
Develop
existing staff
Recruit
outside talent
Alternative
sourcing
Increase new
hire benefits
Increase new
hire salaries
Outsource
work
Change work
models
Strategies to close skill gaps1
Source: 2016-2017 Talent Shortage Survey, ManPowerGroup

Primary Data Source
The Lasting Impact ofTuition Assistance
§  Employees who participated in their company’s
tuition assistance program within the past two years
§  Survey conducted August 2017
§  22,000+ respondents
§  100+ organizations represented

Emerging Strategies
Guide the Way
Recognize Differing Goals
Remove Barriers
Generate Buzz

Pave Pathways
§  Start with a specific
employee group
§  Determine the:
–  Needed skills
–  Best training source
–  Coaching support
–  Success metrics
§  Communicate the program!
17

Guide the Way
§  Advisors who help employees:
–  Select a program that meets personal and
professional goals
–  Obtain the best rate and maximize the benefit
–  Develop skills needed by the business
Study findings: 4 in 10 people who spoke with an advisor
found a way to save time and/or money for their education

Areas of Focus
Guide the Way
Remove Barriers
Generate Buzz

Remove Barriers
§  Cost
–  Half of employees who enter tuition assistance
programs have student loan debt
§  Time
–  Lack of time is the top reason employees to
suspend or stop external learning
§  Confidence
–  1 in 10 who cancel say they lacked confidence it
would improve their career
“The Lasting Impact of Tuition Assistance.” Horizons Workforce Consulting, 2017

Generational Differences
Motivations for continuing their education:
–  Millennials & Gen Z are more likely to be pursuing a new
role within the organization
–  Gen X are more likely to want to set an example for
their children
–  Baby Boomers are more likely to want to keep pace or
get ahead of changes in their position
“The Lasting Impact of Tuition Assistance.” Horizons Workforce Consulting, 2017

Young Workers Crave Learning
§  87% say development is
important in a job1
–  2x-3x more important
than bonuses, free healthcare,
or extra vacation2
–  60% would pick strong
professional development over
regular pay raises3
(1) Gallup (2) Bersin, Josh.“The Learning Curve is the Earning Curve.” Forbes, June 2016 (3) The Key to Attracting Millennials, EdAssist, 2015

EXAMPLES IN PRACTICE

Companies at a Glance
J.B. Hunt
§  26,000 employees
§  56 years in business
§  Complete shipping &
supply chain solutions
§  HQ: Lowell,AR
Bright Horizons
§  27,000 employees
§  31 years in business
§  Family care & employee
development solutions
§  HQ:Watertown, MA

Guide the Way
Examples:
Contact center
specialists
Early childhood
educators

Remove Barriers
More flexible & more affordable programs
§  Books included
§  No fees
§  Multiple start dates
§  100% covered by
reimbursement

Education assistance:
earning loyalty in an
intensely competitive
driver market
“In the second quarter of 2017, the turnover rate at large truckload carriers
jumped 16 percentage points to 90% – the largest jump since 2010.”

Generate Buzz
§  Celebrate talent mobility
–  Bright Horizons internal hire rate is more than
2x the national average
Sources: Bright Horizons HRIS data | Sources of Hire 2017, SilkRoad Technology

Generate Buzz
As our business lines expand, so have our skill needs.
This raises the bar for education.
Associate's
17%
Bachelor's
37%
CEU
1%
Certificate
1%
Master's
44%
Degrees being pursued. J.B. Hunt employees
Student debt is a large and growing concern.

Key Learnings
Start by evaluating needed skills
Appeal to multiple motivations
Seek out faster, lower cost paths

Register for the next webinar!
8 Ways to Create Workforce Experiences that Really
do Drive Productivity
Tuesday, December 19, 2017
Webinars start at 2 p.m. Eastern / 11 a.m. Pacific
Register for all upcoming Workforce Webinars at
workforce.com/webinars

EMPLOYEE EDUCATION IN 2018: STRATEGIES TO WATCH

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EMPLOYEE EDUCATION IN 2018: STRATEGIES TO WATCH