employee education in 2018: strategies to watch

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Featuring: Bettina Crumby J.B. Hunt

Elisa Vincent 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

Meet Your Presenters

Bettina Crumby Talent Development Manager

Elisa Vincent 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

EMERGING STRATEGIES

Primary Data Source

The Lasting Impact of Tuition 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!

© 2017 Bright Horizons Family Solutions LLC 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

Areas of Focus


Guide the Way


Remove Barriers

Generate Buzz

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

Areas of Focus


Guide the Way


Remove Barriers

Generate Buzz

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.

TAKEAWAYS

Key Learnings

Start by evaluating needed skills

Appeal to multiple motivations

Seek out faster, lower cost paths


Q&A

Q&A

Thank you!

EdAssist.com

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employee education in 2018: strategies to watch

Recruiting & HR