Walmart College Program In 2024: Your Complete Guide
As an expert on developments in the retail sector, many readers have asked me about Walmart‘s ramped up investments in employee education. With ballooning enrollment in their Live Better U (LBU) program, I wanted to provide a deeper look at the stats and ROI behind this over $1 billion bet.
Tuition Programs Become Table Stakes
First, some context. Leading retailers like Amazon and Target have upped their education incentives lately. Why? Data shows immense value:
Employees stick around after earning degrees. Walmart‘s employee turnover fell to 32% after launching LBU, far below the 59% national retail turnover rate per APA‘s 2022 Retail Report.
Graduates often move into higher roles. Over 30% of LBU graduates at Walmart were promoted within 6 months, per Guild Education‘s latest statistics.
Education widens recruiting pools and diversity. Since announcing LBU in 2018, applications to Walmart increased over 15% year-over year, especially from groups underrepresented in retail leadership formerly.
With huge hiring shortages in retail currently, many companies now provide tuition benefits to remain competitive. So how does Walmart‘s program stack up to peers?
How LBU Compares to Other Retail Programs
Unlike many other corporate initiatives, LBU offers associate‘s and bachelor‘s degrees completely free for all part-time and full-time employees.
Here‘s a quick view of how it stacks up:
| Company | Annual Investment | Degree Offerings | Employees Served |
|---|---|---|---|
| Walmart Live Better U | $1 billion | Associate‘s, bachelor‘s | All part-time and full-time |
| Amazon Career Choice | $1.2 billion | Certificates, GED | Full-time 1+ years |
| Target Guild Education | $200 million | Associate‘s, bachelor‘s | Full-time 1+ years |
With over 1.6 million U.S. employees eligible on day one, Walmart far outpaces peers in access and degree options through LBU right now.
Evaluating ROI of Walmart‘s Billion Dollar Investment
But is the expansion worth over $1 billion invested? Analyzing LBU‘s growth shows strong momentum:
- 7,000+ employees already graduated
- 2022 saw the most enrollments ever, up 22% over 2021
- In 2022 Walmart doubled eligible programs to meet labor/skill shortages
LBU‘s retention and promotion data impresses too:
- 65% graduation rate, above the 51% national online college average
- Graduates show one-third the turnover rate after earning degrees
- 32% obtain higher titles post-graduation
This data explains Walmart‘s eagerness to keep expanding. Compared to hiring and training new staff, LBU delivers strong talent pipeline and retention outcomes. Employees also prosper – all without student debt.
How Associates Can Enroll in LBU
For employees interested Walmart’s education offering, here are the quick facts on eligibility and enrollment:
Who Can Participate?
You must:
- Be employed at Walmart or Sam’s Club for at least 90 days in the U.S.
- Consistently work part-time hours
- Lack existing associate’s or bachelor’s degrees
Most store associates qualify for LBU. Those not eligible include temps and most managers.
What‘s the Enrollment Process?
Simply visit LBU‘s website, select your preferred degree path and apply through your Walmart ID. Counselors can help choose an ideal academic program if you are unsure.
How Do Employees Graduate for Free?
After acceptance, pick classes at your selected accredited university. Walmart covers 100% of annual tuition and book fees directly to the school. Work with advisors if issues surface.
I expect even more competitors to match Walmart‘s tuition offerings going forward. But for now, LBU provides the strongest degree-based benefit in retail – one that more workers should consider pursuing.
