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FCA Offers Free College Education for Dealer Employees in U.S.
Fiat Chrysler Automobiles NV hopes to lower a high turnover rate among its dealership employees by offering them free college educations.
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Fiat Chrysler Automobiles NV hopes to lower a high turnover rate among its dealership employees by offering them free college educations. Dealers will pay a flat monthly fee to participate.
Any employee of a participating dealership is eligible. Students will enroll with Strayer University, a private accredited university based in Washington, D.C., and take classes online or at one of 77 physical campuses. FCA will pay upfront for tuition, fees and books so students can take individual classes or earn an associate, bachelor's or master's degree.
A typical undergraduate degree at Strayer costs at least $42,000. FCA says it negotiated a significantly lower rate for its program. The offer launched today at 356 dealerships in six southeastern states. The company plans to extend the program in the third quarter to all 2,600 of its American retailers.
FCA tells Automotive News about half its U.S. dealer sales force leaves each year. That compares with a 66% average turnover rate for the industry overall, according to an estimate by the National Automobile Dealers Assn.
AN notes that a high churn rate makes it difficult for dealerships to establish lasting relationships with customers.
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