Pandemic Drives Working Americans to Seek Further Education
New survey from Bright Horizons EdAssist Solutions® reveals value of education opportunities, including promoting equity in the workplace
The COVID-19 pandemic ignited a shift in how working Americans view continuing education, according to a new survey commissioned by Bright Horizons EdAssist Solutions® (NYSE: BFAM). The survey revealed the 85% of full and part-time employed Americans feel employers need to rethink their benefits offerings in light of the pandemic.
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What are employees looking for in this current climate? Education opportunities. 78% of working Americans believe the pandemic has increased the need for companies to support their employees with education benefits, including tuition reimbursement for degree and non-degree programs and student loan repayment programs.
What’s more, education benefits are not only driving employee motivation, but they may be a key factor in promoting workplace equality. According to the survey, nearly two-thirds of American workers (65 percent) think that providing education benefits to all employees helps promote racial and gender equality in the workplace.
“We are seeing a significantly higher retention rate among Black, Hispanic, and female employees who are participating in their employer’s benefits program through EdAssist Solutions,” says Patrick Donovan, Senior Vice President, Emerging Services at Bright Horizons. “Now more than ever, employers are looking to build inclusive cultures, create a level playing field for all employees, drive higher retention and, ultimately, more career advancement. Workforce education programs can help achieve these goals.”
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In addition to an increased desire for education opportunities – the availability of employer-sponsored education assistance is having a deeper impact on today’s workforce:
- 75 percent say they would feel more motivated in their current job if they had access to education opportunities through their employer.
- 74 percent believe these opportunities would make them feel more secure in their current job.
- 73 percent agree that education opportunities offered by their employer would make them feel more equipped to do their current job.
“COVID-19 magnified the need for career development and accelerated learning in the workforce as corporate strategies have shifted and difficult staffing decisions created new and immediate needs,” says Donovan. “There is a real opportunity for employers to rethink their benefits programs to meet the needs of today’s workforce and invest in ways to drive employee performance – that starts with providing compelling education benefits.”
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