Will Walmart Win Employee Retention With Caregiver Training Program?
Walmart has recently unveiled two programs that could bring big benefits to employees. One program is designed to provide caregivers with the training they need to re-enter the workforce, while the other is designed to cover tuition for employees pursuing retail-related degrees. With the initiatives, Walmart aims to improve employee retention rates and engagement, while also drawing in new workers.
As the world’s largest private employer, Walmart’s actions often have a ripple effect beyond its own corporate boundaries.
The RTP team discusses whether the value of these programs for Walmart and what other retailers can learn from the strategy.
Debbie Hauss, Editor-in-Chief: This move sets a good example for other retailers looking to improve employee retention and motivation, not to mention employer-employee relationships. It’s no secret that Walmart has been called out on employee satisfaction time and time again. It may be futile for Walmart to try to salvage its public image when it comes to job satisfaction, but you have to applaud certain efforts, such as increasing hourly pay and these new moves to help caregivers get back into the workforce and to help students get college degrees. It’s probably difficult to impossible for small businesses to make a similar offer, but the takeaway should be a focus on building strong relationships with employees using whatever means makes sense. For example, find out what charities or health initiatives are important to your employees and help make a difference.
Adam Blair, Executive Editor: Even if it’s being motivated by record low unemployment numbers that make qualified workers scarce, Walmart deserves applause for both of these programs. The return-to-work program, designed to provide training and skills upgrades for people that have spent time caregiving, addresses a key societal problem: the “sandwich generation.” These are the folks who so often need to take time away from paid work to care for children or aging relatives. The fact that an employer as big and influential as Walmart acknowledges that returning to work can be a challenge for these people seems to be a step in the right direction, and hopefully one that the retailer will expand. The college tuition aid program addresses another stark reality: as technology becomes a bigger part of everyone’s work life, we all need more education simply to keep up. I also like that the program doesn’t require upfront payments by Walmart employees, who often are living paycheck to paycheck.
Glenn Taylor, Senior Editor: I have to give credit to Walmart for its continued investments in employees. What once felt like a move that was purely PR-driven with the companywide wage increases has now expanded to many different areas that add value to the employee experience. While there certainly is a long road ahead to boosting the overall worker happiness climate at Walmart, other retailers should be taking notes on what matters for employees. Walmart has more capital to invest, but other retailers could at the very least smart small. Programs such as college tuition coverage can be tested as a pilot with a select few employees; or caregiver training could occur in a few stores in a select region. Workforce environment programs always seem like they can be arduous to build out, but the only way to know if they can be successful is by introducing them to a subsection of people first. That way, it’s less intimidating and retailers can get an eye on the success rate without having to invest too much money.
Bryan Wassel, Associate Editor: This move represents the latest in a line of employee initiatives spearheaded by Walmart, and is in some ways one of the most profound. While other retailers can and have offered raises, Walmart is utilizing its size and clout to better the lives of its employees in ways that will help them for years to come. While there might be an upfront cost for the retailer, it will come with long-term benefits: people will remember the company that paid for their training, which will increase their loyalty as both employees and shoppers. The tuition coverage may prove to be a particularly forward-thinking move, as the retailer is grooming a future generation of managers both at the store level and beyond, and it will have the first opportunity to promote the associates who show the most promise.