THE WHAT? Macy’s has announced an expansion of its benefits program, which will see it launch a debt-free education initiative, raise minimum wage and expand other benefits.
THE DETAILS Aiming to attract and retain workers, the retailer has launched an tuition benefit program and raised its company-wide minimum rate to US$15 per hour.
Beginning February 2022, Macy’s will offer a ‘debt-free education benefit program to its colleagues, investing approximately US$35 million over the next four years.’
The program will be available for all U.S.-based, regular, salaried and hourly colleagues and will cover 100 percent of tuition, books and fees for a wide range of options, including courses for high school completion, college prep, English language learning, associate and bachelor’s degrees, bootcamps and professional certificates within Macy’s debt-free network.
Macy’s has partnered with education and upskilling platform Guild Education to build the program.
THE WHY? The drive is said to be part of Macy’s commitment to culture and employee engagement.
Danielle Kirgan, Chief Transformation and Human Resources Officer at Macy’s, said, “As we continue our transformation to be a digitally led omnichannel retailer, a critical component of our growth includes investing in our talent and enhancing all aspects of their Macy’s, Inc. experience with a strong focus on advancement opportunities, culture and engagement. As a company, we’re driven by our mission to enable our colleagues’ success and be the preferred employer everywhere we do business, with competitive pay and benefits rooted in principles of equity.
“This program removes a major barrier to accessing education and will help our colleagues to further develop their skills and grow their careers and earning potential.”