Franklin, Tenn.-based Community Health Systems is investing $40 million into its employees for student debt, professional education and career advancement.
CHS is creating a new student loan repayment program for employees with student debt to consolidate their loans, decrease interest rates and receive employer sponsored payments, CHS said in an April 26 news release. CHS will directly pay part of loan premiums for eligible employees who are on top of payments, providing up to $20,000 per employee.
An employee reimbursement program has also been created for licensure or certification renewals. It is available for any license or certification testing or renewal that the company does not already offer for free.
The tuition reimbursement program, which gives employees $5,000 in tax-free reimbursement annually, is being enhanced. Employees can use the program to continue education for any job track at CHS; before it could only be used for education in employees' current area of work.
The investment is part of an effort to retain and recruit employees, specifically frontline nurses, technicians, therapists and other staff. CHS has about 66,000 employees.