CNBC: Starbucks, Chipotle and others are offering up a new employee perk--Paying for their education

According to the Bureau of Labor Statistics, 72.5 percent of people left their jobs in food service or hospitality in 2017. This high turnover is common in the industry and the time spent onboarding and training new hires is an expensive process for restaurants. That's why industry giants like Starbucks, Taco Bell, KFC, McDonald's and Pizza Hut are focusing on enhancing their college tuition programs in order to retain employees for longer periods of time. A recent CNBC article detailed the robust programs these restaurants are offering.

With benefits ranging from a $2,500 yearly stipend to 100 percent tuition reimbursement, franchises are seeing the benefits. Taco Bell saw a 98 percent retention rate over six months and a 34 percent increase in program participation. Starbucks is planning on having 2,300 graduates by the end of 2018. And, McDonald's is expanding their program so even more employees can benefit. "We know that people stay with us longer when they participate in these programs," Rob Lauber, chief learning officer at McDonald's, told CNBC. "And people that stay longer deliver a better customer experience for us."

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