Starting Monday, all of Fiat Chrysler Automobiles' 180,000 dealership employees will have the chance to go to college for free. And so will their spouses and kids.
Back in May the company announced it would pay the way to a diploma for some workers based at dealerships in the Southeast. Well, the company decided that wasn't good enough. This new benefit will impact nearly 700,000 people. (Video via Fiat Chrysler Automobiles)
"What we can do is we can bring in the best talent, the best employees to our dealerships and we can hang on to them," Head of Dealer Network Development Al Gardner said. (Video via Fiat Chrysler Automobiles)
And that hanging on piece is important. According to Fortune, there's a 45-60 percent turnover at Fiat Chrysler Automobiles, or FCA, dealerships each year.
This new move is possible through a partnership with Strayer University, a for-profit education company. The dealership pays the college a fee on behalf of the employee to get them registered. Employees, spouses and kids can all choose to attend classes at one of Strayer's 78 campuses or complete the program online. (Video via Strayer University)
"Much of the curricula and content has been customized for FCA's business so it's a win-win both for the organization and the employee," Strayer Education CEO Karl McDonnell. (Video via Fiat Chrysler Automobiles)
Fiat Chrysler isn't the only large company looking to attract and retain high-quality employees. Starbucks rolled out a similar program back in April. But unlike FCA, Starbucks employees have to pay a portion of tuition costs up front and get reimbursed at the end of each semester. (Video via Starbucks)
Other large companies like BP, Deloitte and Google help pay portions of college costs too. But if you're looking for a free ride for your spouse and kids? You'll have to get a gig at a Jeep, Chrysler, Fiat or Dodge showroom for that.
This video includes images from Getty Images.