New Initiative: Walmart and McDonald’s Offering College Credit for Employees' Work Experience

Money | July 8, 2024, 6:23 a.m.

In a groundbreaking move, Walmart and McDonald's are leading the charge to offer college credit to employees for skills learned on the job. This shift challenges the traditional reliance on degrees as a measure of expertise, recognizing that practical experience is equally valuable. By converting corporate training into college credit, companies aim to empower employees to pursue higher education, create a more skilled workforce, and reduce barriers to career advancement. Bonnie Boop, a Walmart employee, exemplifies the success of this initiative, earning a degree while balancing work and study. This innovative approach benefits both employees and employers, with tuition assistance programs enhancing workforce loyalty and reducing turnover costs. While corporations like Walmart are paving the way for a skills-first approach to education, challenges remain in assessing and accrediting work-based skills. However, this transformative shift signals a new era in talent development and recruitment.