Survey Results: InStride Releases Workforce Education Motivations Report
15 Agosto 2024 - 6:04AM
Demand for employer-funded education programs is on the rise
according to a new survey report from InStride, a human capital
management provider of workforce education solutions. The report,
which surveyed over 1,000 employed American adults, reveals a
significant 80% of U.S. workers under 45 crave career advancement
through employer-provided education opportunities that allow them
to avoid student debt.
The 2024 Workforce Education Motivations Report delves deeper
into the preferences and motivations of the modern workforce,
revealing three key findings that underscore the importance of
employer-funded education:
- Workers crave academic
credentials without student debt: Given two choices, 72%
of employees would prefer “to pursue an online degree while
working, with tuition fully paid for by their employer” versus
opting “to pursue an in-person degree program, paying for tuition
with their own funds and/or student loans.” This preference is
strong among younger workers, challenging the belief that Gen Z
favors in-person learning.
- Younger generations seek education to earn a
promotion: 84% of respondents under 45 are highly
interested in employer-sponsored education benefits, with 44%
citing promotions as their primary motivation.
- Interest in tuition
assistance has grown over time: Interest in tuition
assistance, particularly where employers cover upfront tuition
costs, has increased since 2019 with the proportion of employees
who said they were “significantly influenced” by this benefit
growing from 25% to 38%, a 13 percentage-point increase. In this
time, the percentage of employees more likely to stay with their
employer due to this benefit also rose from 48% to 55%.
“Employers that invest in fully funded education programs
attract promising new talent, amplify their workforce's skills,
support internal mobility and drive higher retention rates. Our
survey findings reinforce the critical role of accessible,
employer-funded education in today's competitive job market,” said
Craig Maloney, CEO of InStride.
A deeper look at the rising demand for debt-free career
advancement
The report uncovers that U.S. workers across demographic groups
are turning to employers for access to education, driven by tuition
costs that have risen twice as fast as inflation over the past 40
years.
Notably, 93% of Gen Z respondents expressed strong interest in
workforce education benefits from nationally recognized public
universities. This finding challenges the narrative that Gen Z is
uninterested in traditional four-year degrees, indicating that they
are in fact very interested when they can find a way to afford
it.
Additionally, the report highlights that interest in education
programs is highest among underrepresented groups, younger
employees and managers, with these groups showing significantly
higher interest levels than other employees.
“It's clear that today's workforce is eager to learn and
strategic about minimizing financial burdens associated with higher
education. By providing robust, fully funded education programs,
employers can address these concerns and support their employees'
career aspirations,” added Maloney.
Access the full 2024 Workforce Education Motivations Report.
About InStrideInStride is a human capital
management company that delivers workforce education solutions in
partnership with top academic institutions. InStride enables
employers to provide career-aligned, debt-free education through a
personalized, digital platform and a consultative service model.
Empowering forward-thinking, talent-focused corporate partners such
as Labcorp, Adidas, and Intermountain Health, InStride helps drive
meaningful social and business outcomes by unlocking access to
life-changing education. Visit instride.com or follow InStride on
Twitter and LinkedIn for more information and up-to-date news.
Contact:
Nick Greif, VP, Corporate Communications & External Affairs,
nick.greif@instride.com, 323-363-8910