The new WorkforceEdge platform will streamline employers’ access to a network of top educational programs and provide full administration of employee education benefits
Strategic Education, Inc. (Strategic Education) (NASDAQ: STRA), the parent company of Strayer and Capella Universities, and Noodle Partners, which helps a growing network of colleges and universities use technology and shared services to lower costs while raising capacity and faculty-to-student engagement, announced today that they will join forces to provide employers with a seamless approach to administering tuition assistance benefits. The partnership is designed to ensure the effectiveness of such benefits and to give covered employees access to affordable, relevant education options from top public and private schools.
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“This partnership of two industry visionaries has the opportunity to transform the relationship between higher education and corporate America by providing a high-quality, upskilling solution that addresses the skills gap in a way the market has been waiting for”
Using WorkforceEdge, a complete employee education management platform, employees can connect to a wide variety of online undergraduate and graduate programs in Noodle’s network of top public and private universities, and the affordable programs within Strategic Education’s portfolio, including Strayer University and Capella University. WorkforceEdge also serves as the portal for employers to administer and disburse tuition assistance benefits for employees and to better understand their spend and return on investment.
WorkforceEdge streamlines the user experience for both employer and employee: the employer has a central interface for greater visibility into the overall investment it is making, while the employee has a user-friendly portal through which to learn about available programs.
“Today’s employees know they must continue learning, and employers know that education benefits can help them attract and retain a skilled workforce,” said John Katzman, Chief Executive Officer of Noodle Partners. “The missing link is a pathway that makes excellent degree and non-degree programs from leading universities accessible to employers and their employees without exacting a large toll for that access.”
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According to the Society for Human Resource Management, at many organizations, less than 5% of employees who have access to education benefits take advantage of them. By combining best-in-class educational options that fit employees’ varied needs, the partnership will enable employees to take better advantage of the tuition assistance benefits offered to them.
“At Strategic Education, we believe employers are important partners in shaping the future of higher education and preparing our workforce. This partnership furthers our ability to achieve our aspirational vision to fully transition our tuition revenue to private sector employers over the next ten years,” said Karl McDonnell, Chief Executive Officer of Strategic Education. “We believe this combination of flexibility, efficiency, quality, cost and choice create a dynamic solution to the challenges employers and employees currently face when it comes to education, upskilling and training. This partnership builds upon the strong legacy Strategic Education has created with its employer partnership program.”
Strategic Education currently has more than 750 employer partnerships where it provides a suite of groundbreaking education solutions to help employers build and retain a skilled workforce. The new WorkforceEdge platform adds to Strategic Education’s commitment to offering employees options that are relevant, innovative and affordable. For example, Strayer’s Degrees@Work partnered with Fiat Chrysler Automobiles to offer a degree program to dealership employees and their families free of charge. Participating dealers experienced nearly 40% higher employee retention.
“This partnership of two industry visionaries has the opportunity to transform the relationship between higher education and corporate America by providing a high-quality, upskilling solution that addresses the skills gap in a way the market has been waiting for,” said Mark Grovic, General Partner, New Markets Venture Partners.
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