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Summary: Discover how strategic scholarship programs can help your organization attract, engage, and retain top talent while building meaningful connections with future workforce leaders – and why 84% of employees say tuition assistance was a key factor in choosing their employer.
Think scholarships are just for colleges? Think again. Nearly half (47%) of U.S. employers offered tuition assistance for undergraduate or graduate programs in 2019, but here’s the kicker: those who do are seeing massive returns on their investment. We’re talking 76% of employees saying they’re more likely to stick around because of tuition benefits, and a whopping 88% of Gen Z workers more likely to recommend their employer because of education perks.
Why Scholarships Matter for Employers
In today’s competitive talent landscape, traditional recruitment methods aren’t enough. With 45% of Millennials reporting they’d switch jobs for tuition reimbursement benefits, organizations need innovative strategies to connect with emerging talent early and build lasting relationships. After healthcare, 71% of employees rate tuition assistance among their employer’s best benefits – making scholarships a powerful tool for attraction and retention.
Here are six game-changing scholarship strategies that can revolutionize your talent pipeline:
1. Case Study Competitions with Rewards
Want to see potential talent in action? Create case study competitions that tackle real business challenges. By offering scholarship rewards, you’ll attract motivated students eager to prove their problem-solving prowess and get a sneak peek at their capabilities.
2. Conference Access Programs
Help tomorrow’s professionals attend industry conferences today. By funding conference scholarships, you’re not just removing financial barriers – you’re creating networking opportunities and showing candidates you’re serious about professional development.
3. High School Transition Support
Start building relationships early by offering scholarships to high school students entering relevant programs. As Scholarship America notes, this approach helps cultivate graduates with skills that truly matter to your industry.
4. Non-Traditional Candidate Programs
Expand your talent pool by creating scholarships for career changers, returning parents, bootcamp graduates, or returning citizens. These programs can help you tap into diverse talent pools while demonstrating your commitment to inclusive hiring.
5. Skill Development Initiatives
Remove barriers to certification and training by funding skill development scholarships. This strategy helps ensure candidates acquire the specific skills your organization needs while building loyalty early in their careers.
6. Employee Growth Programs
Transform scholarships into retention tools by incorporating them into your continuing education initiatives. Support your current workforce’s professional development, and watch both skills and loyalty grow.
Making It Happen with Tallo
Ready to launch your scholarship program but not sure where to start? That’s where Tallo comes in. Our platform helps you:
- Connect with qualified candidates
- Promote your scholarship opportunities
- Track engagement and outcomes
- Build lasting relationships with potential talent
The Bottom Line
Scholarships aren’t just about giving money away – they’re strategic investments in your organization’s future workforce. With less than half of U.S. employers currently offering educational assistance, you have a unique opportunity to stand out. By creating thoughtful scholarship programs, you can:
- Attract top candidates
- Boost retention rates
- Enhance your employer brand, especially with Gen Z talent
- Support your community
- Develop the specific skills your organization needs
Want to learn more about using scholarships to transform your talent strategy? Let’s talk about creating a program that works for your organization.
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