Estee Lauder Offers Student Loan Contributions for Employees
Madison Mackay — April 10, 2018 — Business
References: tuition.io & bizjournals
Cosmetics company Estee Lauder is now offering a student loan contribution program as a part of the new employee benefits package. Partnering with student loan payback platform Tuition.io, the brand will contribute $100 toward each eligible employees' student loads every month -- making a maximum contribution of $10,000 each.
With roughly 44 million people in the U.S struggling through outstanding student loans, the brand aims to chip away at the burden for its employees with a simple and strategic plan. Offering the new benefit allows employees to focus on careers and passions while relieving the stress of everyday life.
The new student loan contribution program from Tuition.io for Estee Lauder is a prime example of how the company is executing standards for employee treatment.
With roughly 44 million people in the U.S struggling through outstanding student loans, the brand aims to chip away at the burden for its employees with a simple and strategic plan. Offering the new benefit allows employees to focus on careers and passions while relieving the stress of everyday life.
The new student loan contribution program from Tuition.io for Estee Lauder is a prime example of how the company is executing standards for employee treatment.
Trend Themes
1. Student Loan Assistance - Estee Lauder's student loan contribution program reflects a growing trend of companies providing assistance to employees burdened by student loans.
2. Employee Benefits Packages - The inclusion of student loan contributions in Estee Lauder's employee benefits package highlights the trend of companies enhancing employee perks to attract and retain top talent.
3. Financial Wellness Programs - The collaboration between Estee Lauder and Tuition.io demonstrates the trend of companies implementing financial wellness programs to support employees with their financial needs.
Industry Implications
1. Cosmetics - The introduction of the student loan contribution program in the cosmetics industry shows the potential for disruptive innovation in employee benefits and retention strategies.
2. Human Resources - The integration of student loan contributions in employee benefits packages presents an opportunity for HR departments to differentiate their organizations and address the financial concerns of employees.
3. Education Technology - The partnership between Estee Lauder and Tuition.io indicates the potential for disruptive innovation in the education technology industry, as more companies seek to provide solutions for student loan debt.
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