Helping employees with their education debt is a great way to attract new talent, said John Samaan, senior vice president and head of human resources at Millennium Trust Company.
The financial services firm began offering its employees student loan assistance a few months ago. Now, 20 percent of the company’s 300 employees are already enrolled, Samaan said.
“We got a lot more inquiries from potential candidates,” Samaan said. “People want to join us to be able to participate in this program.”
Options Clearing Corp., a large clearinghouse for equity derivatives, also started providing its employees student loan contributions this year. More than 70 employees signed up within the first month, said Erin Smith, first vice president of total rewards at the company.
She said student loan assistance is the number one benefit being talked about at job and recruiting fairs.
“Most companies provide a pretty standard benefit menu, like medicine, dental and vision, so when you introduce a program that differentiates you, that really matters,” Smith said.
Source : CNBC
