Six companies are providing free tuition to their employees, including Dollywood and Starbucks.

An increasing number of businesses are providing their employees with a valuable incentive to attract top talent: tuition-free education.

Employers have been offering tuition reimbursement programs for years, but their popularity has increased recently due to the tight labor market and the need to attract and retain workers.

Dollywood's parent company, Herschend Enterprises, announced that they will cover the full cost of tuition, fees, and books for employees seeking further education starting February 24.

GROW U, an initiative covering 11,000 employees across Herschend's 25 U.S. attractions, is open to all seasonal, part-time, and full-time employees starting on their first day at work.

Guild Education, an online platform, offers a variety of diploma, degree, and certificate programs in various subjects, including business administration and leadership, finance, marketing, technology, and culinary studies. These courses are designed in partnership with Fortune 100 companies such as Walmart and Disney to create customized education benefit programs for their employees.

Dr. Jill Buban, the vice president and general manager of EdAssist Solutions, stated in September that the ongoing pandemic has highlighted the importance of workforce education. According to recent research from EdAssist Solutions, 45% of American workers believe their education has become more crucial for their growth over the past year, while 30% cited cost as the biggest obstacle preventing them from obtaining a degree.

Providing free tuition can boost employee retention and promote leadership development. According to Chipotle's CFO Jack Hartung, who spoke to CNBC in April, employees who participated in the tuition program were three times more likely to remain with the company and seven times more likely to become managers compared to those who did not participate.

Here are 5 more companies providing free college tuition to their employees:

Amazon

In January, Amazon launched a program that covers the full cost of tuition, fees, and textbooks for its front-line operations employees after 90 days on the job. Additionally, the retail giant funds high school diploma programs, GEDs, and ESL proficiency certifications. This benefit, which is available through "hundreds of education partners" across the U.S., was announced by Amazon.

Target

Target has committed to covering the full cost of tuition and textbooks for over 340,000 employees seeking an associate or undergraduate degree, as well as business certifications. Eligible employees can begin the program on their first day of work and have the option to attend one of more than 40 schools, including the University of Arizona and Morehouse College.

Walmart

In August, Walmart abolished the $1-per-day fee for its Live Better U education program and now covers the full cost of tuition and books for its employees. Over 1.5 million part-time and full-time employees are eligible for the benefit, which includes programs at 10 schools, including Johnson & Wales University and the University of Denver.

Starbucks

Since 2014, Starbucks has supported free tuition for its employees through its Starbucks College Achievement Plan (SCAP). Under this program, all U.S.-based part-time and full-time employees receive full tuition coverage for a bachelor's degree through Arizona State University's online program.

Chipotle

In 2019, Chipotle launched its free tuition program, covering the full costs of bachelor or associate's degrees in 75 business and technology fields through its partnership with Guild Education. To be eligible, employees had to work at the company for at least 120 days. Recently, Chipotle expanded this benefit to include agriculture, culinary, and hospitality degrees from Oregon State University and Johnson & Wales University.

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