Tech giant Microsoft (MSFT) is one of those companies — but it's also charting a unique course.
Unlike Amazon (AMZN), Target (TGT), Walmart (WMT), and other companies offering free tuition for employees who wish to upgrade their skills in almost any field at in a variety of colleges, Microsoft is honing in on community colleges to fill a specific but urgent need: More cybersecurity professionals.
Looking at the demand for educational programs they launched after the COVID-19 pandemic, Microsoft found that "the appetite is there," Naria Santa Lucia, general manager of digital inclusion and U.S. community engagement at Microsoft Philanthropies, told Yahoo Finance.
The company also realized that "people weren't completing the course pathways as much as we would have liked," Lucia added, "and what we realized is we need to get really targeted and look very carefully at the roles that we know are going to expand."
Microsoft Corporation Chief Executive Officer, Satya Nadella, gestures as he addresses the Future Decoded Tech Summit in Bangalore on February 25, 2020. (Photo by Manjunath Kiran / AFP) ·MANJUNATH KIRAN via Getty Images
'There is more the private sector can do'
Microsoft identified cybersecurity as a field with a massive shortage of workers, and is hoping to fill 250,000 cybersecurity jobs in the U.S. by the middle of the decade. (With an increase in the number of data breaches and hacks, the need is urgent.)
The company is hoping to help train and recruit about 250,000 people into cybersecurity by 2025. Some may end up working with Microsoft, its clients, or other employers across the country.
"Then we thought about, 'Hey, what's the best way we can really reach scale in this?' And we really believe that the community college system in the United States is just a great resource," Lucia explained. "There are community colleges everywhere. The tuition is generally affordable. If you are lower income, you can apply for aid and sometimes get that fully covered. It's diverse. People go part-time [or] full-time. I think the average age is often about 26 years old in a given space. ... It just offers a broad range and opportunity."
Microsoft's approach is markedly different from what other retail giants have offered to workers in a bid to attract more talent.
A student at The Los Angeles Community College campus on Monday August 30th of Los Angeles City College (LACC) in the LACCD, the nation's largest community college district. (Al Seib / Los Angeles Times via Getty Images). ·Al Seib via Getty Images
Partnering with community colleges, for instance, is different from Amazon's and Walmart's efforts, given that the company is investing in "not necessarily on the current employees at Microsoft, but on society as a whole," Lucia added.
For instance, if a worker was currently employed in a retail job or a different industry and wanted to try out something new, Microsoft is hoping to create a runway for that person to pursue a role in cybersecurity at a low cost.
Microsoft, according to its press release, is providing funding and training for faculty at 150 community colleges, and scholarships and resources to 25,000 students.
The tech giant's interest is likely a boon to some two-year colleges, given that enrollment has taken a beating at these institutions.
According to early data from the National Student Clearinghouse Research Center, undergraduate enrollment continued to decline in fall 2021 by 3.2% after dropping last year amid the coronavirus pandemic. Enrollment at community colleges dropped by 5.6%, more than at public four-year colleges, which dropped by 2.3%.
Already, colleges have started benefitting from the program. El Paso Community College was recently reported to have received a $50,000 grant from Microsoft for the its cybersecurity program.
Store employees wait for customers during the grand opening of a flagship Microsoft Corp. retail store in New York, October 26, 2015. REUTERS/Lucas Jackson ·Lucas Jackson / reuters
According to Lucia, working with community colleges made sense because of the outcomes.
When Microsoft partnered with nonprofits to deliver its content, completion rates "went through the roof," she explained. "And that was the way when we realized, yes, there is a breadth offering that's important, but let's really double down and partner with those that are already in the space so already trusted by the learners, like community colleges to really do something different and take a different approach."
Lucia also hinted at more commitments coming down the pike in the near future.
"If it is a PR push for companies, I say we should all push more," she said. "There is more the private sector can do to partner with the public sector, with nonprofits, with the higher education system. This is a moment where we all have to have hands on deck with the changes in the labor market."
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Aarthi is a reporter for Yahoo Finance. She can be reached at aarthi@yahoofinance.com. Follow her on Twitter @aarthiswami.
