Macy’s Joins Growing List of Companies Offering Educational Perks in Hopes of Attracting Workers

In an effort to attract workers amid a national labor shortage, the department store chain Macy's is raising its minimum wage to $15 per hour and adding an education benefit that will cover 100% of tuition, books and fees, reports CNBC, which notes that luring workers with educational perks is a growing trend nationwide, with Walmart, Target, Starbuck's and Chipotle offering similar programs.

Through a partnership with Guild Education, Macy's plans to fund bachelor's degrees, English language learning and professional certificates, among other programs, through a partnership with Guild Education, a tech company that connects employers with education providers.

“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,” Danielle Kirgan, chief transformation and human resources officer at Macy’s, told CNBC. Macy's expects the program to cost $35 million over the course of the next four years.