CVS Health Assists Employees in Achieving College Degrees at Zero Cost to Them
CVS Health's tuition assistance program, a pioneering initiative in the corporate world, is proving to be a prescription for success, benefiting both employees and the company. The program, which allows employees to pursue their education at their convenience, has been instrumental in the professional growth of many CVS Health employees, as evidenced by Cece Smith, a senior manager supporting patient safety in the company's Medicare Star Data projects.
Smith, an ardent advocate for the program, has leveraged it to earn consecutive degrees in health administration, including a master's degree, in less than three years. She actively encourages other employees to take advantage of this opportunity, making her a testament to the program's effectiveness.
The program, which does not limit the number of courses employees can take, has a participation rate of 4%, making it twice as effective as the typical program. This high participation rate can be attributed to the program's innovative features, such as upfront funding or direct payment to educational institutions, personalised guidance and counseling, integration with career development, and simplified, user-friendly processes.
These elements make the educational benefits easier to access and more attractive, thus driving higher participation rates compared to traditional tuition reimbursement programs that may be more rigid, slower, or less integrated in their support.
In a unique collaboration, CVS Health and EdAssist have partnered to offer a tuition assistance program that allows employees to earn college degrees at no cost. Employees are paired with an EdAssist coach for personalised education planning, and the program offers both traditional courses and self-paced online courses.
The program is particularly beneficial for retail pharmacy interns, who can take advantage of up to $20,000 per year for their last two years of pharmacy school. This initiative is aimed at filling the gap left by a 60% decrease in pharmacy school applications over the past decade.
The goal of the CVS Health program is to help employees advance in their personal and career journeys while filling hard-to-staff roles. With its innovative approach, CVS Health is setting a new standard for corporate education assistance programs, demonstrating that such initiatives can be a win-win for both employees and businesses.
- Cece Smith's leadership, as a senior manager and ardent advocate for CVS Health's tuition assistance program, highlights the strategic partnership between the company and EdAssist, propelling the program's effectiveness.
- Integrating education-and-self-development with career-development in the CVS Health tuition assistance program equips employees with a health-and-wellness focus, aligning with the company's business strategies.
- The success of CVS Health's tuition assistance program, providing up to $20,000 for retail pharmacy interns' college tuition, is a testament to the company's commitment to leadership strategies, aiming to fill the gap in pharmacy school applications through fitness-and-exercise and science-oriented education.
