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Employee Retention of Apollo Group -
March 31st, 2011
Apollo Group, Inc. (NASDAQ: APOL) is an S&P 500 corporation based in the South Phoenix area of Phoenix, Arizona. Apollo Group, Inc., through its subsidiaries, owns several for-profit educational institutions.
The company owns and operates four higher-learning institutions: the University of Phoenix, Western International University, Axia College (of University of Phoenix), the College for Financial Planning, the Institute for Professional Development. It also owns Insight Schools (Online Public High Schools for Washington, Wisconsin, and other locations), and Olympus High School. As of November 2005, the combined enrollment of the four U.S. domestic universities (UOPX, WIU, Axia, CFFP) was approximately 315,350 students. Of these, nearly 90% attend the University of Phoenix, which Apollo describes as "the nation’s largest regionally accredited private university" .
As of September 2008 the company also owns and operates Meritus University (Meritus) in Canada. On January 24, 2011, citing how "enrollment will continue to be insufficient to sustain the required quality academic and student service infrastructure we and our students demand", Meritus University announced its closure, with their last classes taking place on March 14, 2011. Additionally, Apollo Group, Inc is the owner of BPP, and joined forces with Carlyle Group for tactical investments in education to expand student base. Apollo also purchased UNIACC college in Santiago, Chile and ULA college in Mexico..
Apollo Group (APOL), by far the largest for-profit education company, recently released its FY3Q09 results, beating street estimates and sending its shares up almost 8% today as a result. The following is a concise overview of the earnings, the analyst conference call, and Apollo's outlook.
Strong demand for education in a weak economy
Apollo results show that indeed people re-educate themselves in a weak economy, as they should. The company reported 22% YoY growth in total enrollment, which now totals 420,700 students. Revenue growth even outpaced strong enrollment growth, growing 26% and breaking US$1bn for a single quarter. Also, if we compare enrollment growth in the latest quarter to the nine-month trailing growth number of 20%, then we see that does not appear to be any signs of a slow-down in enrollment growth, and in fact perhaps there was a bit of a pick-up. Breaking enrollment data down by degree type, using University of Phoenix data (a proxy for the entire company), enrollment growth was highest for shorter Associate degree programs, up 39%, vs. 13% growth for Bachelors degrees and 17% for Doctorates.
It's in our company's DNA to help people change their lives through education. If you've got the talent and drive to make our students' goals become reality, we'd love to have you join the Apollo Group team. Whether you're interested in a position in student enrollment and retention, academics, marketing, IT, human resources, finance, or countless other vital roles, we have a place for you.
During the past four decades, we've built a network of academic institutions targeted to meet the increasingly diverse needs of 21st-century students and employers. We've also built a vibrant workplace, packed with people who are simply great at what they do.
In addition to our headquarters in Phoenix, Arizona, we offer career opportunities in 40 states and the District of Columbia; Puerto Rico; Canada; Latin America; and Europe. So, wherever you spend your workday, you'll be helping to reinvent education with the employer of choice in the education sector, alongside the rest of the Apollo Group family.
And in the process, you'll find you've changed your own life...while creating a rewarding career, filled with potential for future growth.
Sure, you hear a lot about work-life balance today...but that often means different things to different people. At Apollo Group, helping you achieve that personal balance is part of the package. Our exceptional benefits offerings are designed to give you peace of mind in and out of the office, while providing you maximum flexibility in the choices you make. From your personal and family healthcare needs to your time off, from your educational aspirations to your long-term financial goals, we strive to provide the best options available—and we're adding new alternatives all the time.
Making Your Health a Priority
Your Comprehensive Health Care Coverage includes medical and prescription drug benefits, dental benefits, vision benefits, and a Company-paid Employee Assistance Plan. The company's contribution to your coverage is generous—and your own contributions are tax free. Employees are eligible for health care coverage on the first day of the month following 60 days of continuous employment.
Two flexible spending accounts—a Health Care Reimbursement Account and a Dependent Care Reimbursement Account—help you pay for eligible health care expenses and child care services. (Again, tax free, to give you the best bang for the buck.) You may set aside up to $5,000 annually in each account, with eligibility beginning on the first day of the month following 60 days of continuous employment.
From your first day on the job, a wide variety of Wellness Programs, such as healthy foods in the Riverside Café, smoking cessation programs, and participation in activities through REV, support you in your efforts toward healthier living.
Expecting the Unexpected
Every employee receives Life Insurance coverage, fully paid for by Apollo Group, equal to two times your annual salary or targeted income, up to $50,000. This coverage also includes Accidental Death and Dismemberment (AD&D) insurance that provides benefits for loss of life, limbs or sight due to an accident. You can also elect to increase your coverage with Additional Life Insurance of one, two or three times their annual salary, up to a specified maximum. It's optional, paid for through payroll deductions.
Dependent's Life Insurance is also optional, and can be purchased through payroll deductions for your eligible dependents including a spouse and/or children.
When you're traveling for the Company, Apollo Group pays the full cost of your Business Travel Accident Insurance—and your eligibility starts the day you are hired.
After completing 60 days of continuous full-time employment, you'll begin accruing Sick Leave at a specified accrual rate. Sick leave accruals may be carried from year to year.
Short-Term Disability Coverage helps replace lost income for up to 13 weeks should you become ill or injured or unable to work due to a non-work related circumstance. You're eligible for coverage on the first day of the month following 60 days of continuous employment. Participation is optional and premiums are paid after-tax through payroll deductions.
Long-Term Disability Coverage helps replace a portion of your income if you are unable to perform the material duties for your occupation. In the event you become totally disabled, you will receive income from all sources that is at least equal to the selected percentage of pay based on your salary at the time of disability.
Long-Term Care Insurance provides affordable protection for the care of someone in need of assistance with daily living due to an accident, illness, or advancing age, either at home or in a facility. Coverage is available for you and your spouse or your parents and/or spouse's parents. Participation in this program is voluntary