After Hurdling Obstacles, Companies Find Programs for Low-Wage Employees Pay for Themselves

A smorgasbord of programs corporations have implemented to help low-wage employees “more than pay for themselves,” according to a new report from Boston College. The study was paid for by Corporate Voices for Working Families.

The programs range from training programs offered to former welfare recipients by CVS; flexible scheduling at Kodak, Wachovia and Kraft; emergency loans at FleetBoston and Levi Strauss; child-care reimbursements at Bank of America; English courses at Marriott, and more.

Each company had to overcome significant obstacles in implementing its program. At FleetBoston, there were issues related to employee privacy. Home Depot had to roll out its program in the middle of a recession. Kodak had to convince managers that there was a need for flexible work arrangements.

Many of the programs were put in place at little cost, and have yielded benefits in terms of lower turnover, increased productivity, reduced absenteeism and more skilled employees. Wachovia Corporation reports that it’s easier to fill entry-level positions since they began offering flexible work options. Bank of America says that employees who used their child-care program are twice as likely to stick around as those that don’t use the program.