Target is launching a "debt-free education initiative" which will see the company pay for tuition and textbooks for any of its employees who want to study.
That's right, the major retailer is actually committing to a social justice cause! Target is partnering with Guild Education to give their employees a chance to choose from 250 programs at over forty different schools and universities across the U.S. to study.
And Target will pay for the whole thing, from tuition fees to textbook costs, and it applies to all 340,000 employees across all stores, whether that's full or part-time.
And people are amazed by their generosity...
One Facebook user wrote: "It helps Target manage the cost of employee turnover, and helps their employees pursue continued education. It will help in areas that have lost industry, etc. With the cost of college significantly out of reach for many, it's a step in the right direction from employers looking for talent."
However, not everyone is impressed by their pledge...
Another commented: "Well seeing as they give 8 cent raises to employees that have worked for them for almost 5 years I guess they can afford it."
"That's nice of them. Would have been nice if I got some pay for my maternity leave after 7-8 years of working there though." A third wrote.
Someone else added: "Nice gesture. But a living wage with healthcare options would be nicer."
And if that wasn't enough, Target won't just cover college costs, workers can also take part in the program to help them cover the costs of high school courses, a range of certificates, and boot camps. With students able to access up to $10,000 for master's programs.
"A significant number of our hourly team members build their careers at Target, and we know many would like to pursue additional education opportunities," Melissa Kremer, Target's chief human resources officer, said in a statement. "We don't want the cost to be a barrier for anyone, and that's where Target can step in to make education accessible for everyone. Our team members are the heart of Target's strategy and success, and we have a long history of investing in industry-leading pay, extensive benefits, and career opportunities to help our team thrive and have rewarding careers at Target."
In a press release, Target promised to invest $200 million over the next 4 years.
In an interview with CNBC, Guild Education CEO Rachel Carlson explained why more retailers are offering to cover education costs for their employees...
"We've hit the moment where employers, and really the most innovative employers, are realizing the best thing they can do to differentiate themselves as a company and as an employer is to offer economic mobility, upskilling, and the opportunity to gain more skills and move up within a company or eventually move on," she said. "We're seeing companies that are offering education are winning the war for talent."
What do you think about the new initiative?