Hormel Foods Announces Free College Tuition for Team Members
- Hormel Foods' commitment to education strengthens its position as an employer of choice, enhancing its reputation and potentially attracting top talent. The program's focus on career mobility and development aligns with modern workforce trends, contributing to employee retention and satisfaction.
- The potential financial impact of offering free college tuition to team members is not provided, making it challenging to assess the program's overall cost and potential drawbacks. The long-term impact on employee career development and retention remains to be seen, and any negative effects on the company's financials are not addressed.
AUSTIN, MN / ACCESSWIRE / August 3, 2023 / Hormel Foods Corporation (NYSE:HRL) has had a longstanding commitment to education for its team members, their families and the communities where it operates. Today, the Fortune 500 global branded food company is announcing a new opportunity open to eligible team members in the United States to earn their degree or complete non-degree programs for free.
Hormel Foods is partnering with Workforce Edge, a complete employee education management platform powered by Strategic Education, Inc., on this benefits expansion. This program is part of the extensive educational benefits offered to team members, including its already successful tuition reimbursement program, which has allowed thousands of Hormel Foods team members in the United States to continue their education after joining the company.
This new program, which is open to all full-time Hormel Foods team members in the United States, provides team members the opportunity to receive a company-funded associates, bachelor's and master's degree with Capella University and Strayer University, as well as discounts on tuition at hundreds of well-known colleges and universities throughout the United States. The program offers a wide variety of educational opportunities in various fields of study including science, technology, engineering, math, business, fine and liberal arts, psychology, criminal justice and legal, including bachelor's, master's and doctoral programs. The program also includes access to 50 + general education-level courses through Sophia Learning, which are ACE recommended for college credit and are designed to be transferred to many colleges and universities.
"Hormel Foods has long supported education as an important investment in our people," said Katie Larson, senior vice president of human resources at Hormel Foods. "Our team members are the most important part of our company, and we are excited to be able to offer them even greater access to education. It's an opportunity for us to continue to make a real difference and further invest in the lives and careers of our people."
In addition to this program, Hormel Foods was one of the first major companies to offer the opportunity of free college education to the dependent children of its team members. Through the Inspired Pathways program, the company provides community-college tuition while also furnishing free one-on-one college advising, financial aid support and career development opportunities. More than 1,200 students have utilized these benefits since the program's inception in August 2020.
"Workforce Edge continues to be the education benefits administration platform of choice for many premier companies looking to gain a competitive edge by providing options for career mobility to their workforces," said Karl McDonnell, CEO of Strategic Education. "We are excited to begin our partnership with Hormel Foods and look forward to seeing the progress of its talented employees."
This program with no-cost degree opportunities and expanded tuition reimbursement is just one in an extended list of benefits that Hormel Foods offers its valued team members. The company has a long-standing reputation as one of the most successful food companies in the world and has received numerous honors and accolades for its integrity, philanthropy and other aspects of social responsibility. Recently, it was named one of the Best Companies to Work For in America by U.S. News & World Report, one of the World's Most Admired Companies by Fortune, one of America's Most Responsible Companies for a fourth consecutive year by Newsweek, one of the World's Top Female-Friendly Companies by Forbes and one of America's Most Trustworthy Companies by Newsweek for the second straight year.
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