The company is going to help their workers pay off their student loans.
The student will receive $3,600 (€3,243) towards the repayments as Staples joins other companies offering this incentive, reported CNN Money. The employees who qualify will receive $100 (€90) in their monthly pay packet up to the total of $3,600 (€3,243), but must be a “top performer” to qualify and be nominated by their managers, though there will also be the chance to qualify for newly-employed salespeople.
The money can be used to pay off a degree course that is finished or a current course at an “accredited college”. The student loan repayment plan will “be offered to additional groups in the future”, as a large percentage of the workforce are young people. Staples withheld the number eligible for the programme, but the incentive is to be used as a recruitment inducement, and the company recently employed 1,000 to its sales team.
Only four percent of businesses use this incentive, although this is beginning to improve as some bigger names are now introducing the programme.