LEARNING & DEVELOPMENT

Walmart’ s Live Better U( LBU) is the cornerstone of the company’ s L & D strategy. By providing 100 % tuition coverage for employees, the retail giant isn’ t just funding degrees – it’ s tackling one of its biggest cost pressures: turnover. As a company with roughly 2.1 million employees, Walmart has also been focused on turnover reduction. Replacing a frontline worker is widely cited to cost approximately US $ 4,000 to US $ 5,000, so even a 10 % improvement in retention rates would have a huge impact on he business’ s bottom line. According to Walmart, employees who take advantage of the LBU initiative are significantly more likely to stay with the business and receive promotions at a higher rate. As a result, this significantly reduces the costs of replacing frontline workers. To take this one step further, Walmart has also shifted to a skillsbased hiring model, as now a large proportion of management roles are filled internally. This not only strengthens career pathways, but it also lowers recruitment spend. Virtual Reality training in Walmart Academies has also helped to accelerate the“ speed to proficiency,” while simultaneously cutting training time and improving performance outcomes.