Walmart is stepping up its efforts to woo high school students to join its ranks by rolling out new perks, including free prep for college entrance exams and even debt-free college.
The Bentonville, Ark., company said Tuesday it would be expanding its education benefit to include offerings for high school students, including more flexible work schedules and free SAT and ACT prep. Students working at Walmart who graduate high school with an eye toward college can also qualify for Walmart’s $1-a-day college benefit.
“Walmart values learning in all forms, and we are committed to creating a workforce of lifelong learners and instilling in them excitement for retail and a passion for serving customers,” Walmart U.S. CEO Greg Foran said.
The retail giant first launched its education benefit, called “Live Better U,” last year. Since then, more than 7,500 Walmart employees across the country have enrolled in the benefit, surpassing Walmart’s projections, the company said.
Walmart employees can earn degrees and certificates at six nonprofit universities, including the University of Florida, Bellevue University, and Purdue University Global, which have success with adult learners.
The company, which is the country’s largest private employer, is also creating a graduation bonus program for Walmart associates who haven’t previously earned college credits. Walmart said up to 5,000 employees can qualify for the $1,500 awards annually.
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The expanded education benefit is billed as a way for Walmart to help eliminate barriers for high school students wrestling with the cost of college, as student loan debt nears $1.5 trillion.
Unemployment hit a 50-year-low last month, and Walmart has unveiled several initiatives to attract and retain workers and differentiate itself from its competitors. The company said last year it would be raising its minimum wage to $11 per hour and rolled out in February bonuses to employees with good attendance records.
While unemployment is low, the Bureau of Labor Statistics warned fewer teenagers are joining the labor force. The agency projects teen labor force participation will fall to 26.4% by 2024.
