Strong ROI Leads Cigna to Increase Assistance for Workers in High-Demand Fields
The health insurer’s Education Reimbursement Program (ERP) increases career opportunity and employee retention, which drives financial payback. Program participants are 10 percent more likely to be promoted, 7.5 percent more likely to be transferred within Cigna, and eight percent more likely to stay at the company, reducing across-the-board talent management and recruiting costs.
A bottom line analysis of the health insurer’s ERP shows a 129 percent return on investment. In response to these positive results, Cigna’s leadership increased the maximum amount of tuition assistance the company offers workers in high-demand fields.
The company is also increasing its commitment by offering additional support services, mentoring, to navigate education and career growth opportunities and is working on delayed billing with education partners to reduce out-of-pocket expenses.