Upcoming Investments Unveiled to Further
Enhance Retail Partner Experience
Starbucks Coffee Company (NASDAQ: SBUX) - In line with
Starbucks unwavering commitment to elevate the partner (employee)
experience and offer partners a bridge to a better future, the
company is proud to introduce the latest in partner investments.
These developments include accruing paid vacation time sooner,
continued investments in partner pay, innovative financial
well-being and skills-building benefits, partner-centric
scheduling, and the introduction of the first-ever North America
Barista Championship.
The company's dedication to actively listening to partner
feedback and introducing significant investments in the partner
experience, such as these, has played a pivotal role in solidifying
its status of serving the best benefits across the industry for
hourly retail work.
According to the results of a recent Benefit Index analysis
conducted by AON, Starbucks continues to deliver more valuable
benefits for retail hourly partners than any of the more than 50
other U.S. companies included in the study, inclusive of Fortune
200 and Fortune 500 companies.
The comprehensive benefits package provided by Starbucks goes
well beyond the industry average and is set apart by its
accessibility to a broad subset of its retail hourly
workforce—including anyone working an average of 20 or more hours a
week.
“Investing in our partners is what drives our success,” said
Sara Trilling, executive vice president and president of Starbucks
North America. “It’s what makes us all partners. And an important
way we do this is by investing in our partners’ journey, to bridge
to a better future at Starbucks and beyond. This entails engaging
with, and listening to, their ideas and feedback while continuing
to raise the bar by offering competitive pay and the best benefits
package in the industry. This independent study from AON has
validated we are an industry leader in our work to enhance the
partner experience.”
With significant ongoing investments of more than $1 billion
since last year to uplift the overall partner and store experience,
the company has seen a positive shift in hourly turnover rates,
which are now below pre-pandemic levels. In addition, Starbucks has
invested more than 20% of the profits from fiscal year 2023 back
into the partner experience through wage increases, training, and
new equipment. These investments have led to a more consistent
partner experience in company-operated stores across the U.S.
Coupled with higher wages and the expansion of hours, these
investments have not only resulted in lower turnover, more
meaningful improvement in our customer connection scores
year-over-year but have also increased hourly total cash
compensation by nearly 50% since Fiscal Year 2020.
Highlights of partner investments include:
Vacation Accrual: With every cup, with
every conversation, with every community – Starbucks nurtures the
limitless possibilities of human connection. Starting this
February, hourly partners will accrue paid vacation time sooner,
beginning just 90-days after hire, allowing them to engage in more
meaningful connections with family and friends outside of work
sooner than ever before.
Competitive Pay: Sustained investment
in retail partner pay remains a priority. Starbucks moved the wage
floor for all U.S. retail hourly partners to $15 per hour in 2022
and has continued to add incremental increases, while recognizing
and rewarding tenure. Starting with competitive pay — Starbucks
provides U.S. hourly retail partners an average wage of nearly
$17.50 per hour, a wage range between $15 and $24 per hour and a
total compensation, with benefits, of approximately $27 per hour.
Effective January 1, eligible U.S. retail hourly partners will see
an incremental pay increase come to life, with at least a 3%
increase and differentiated pay for eligible tenured partners.
Eligible partners with 2-5 years of service will get at least 4%
and those with 5 or more years of service will get at least 5%.
Introduction of First-Ever North America
Barista Championship: Starbucks partners take pride in their
craft and have fun while doing it. They celebrate each other and
their wins. With the long-awaited, first-ever North America Barista
Championship kicking off this February, Starbucks partners will
have the opportunity to showcase the unique role they play in
bringing the Starbucks experience to life for customers each day,
demonstrating their commitment to connection, craft, and community.
This program will be open to eligible baristas and shift
supervisors in participating U.S. and Canada stores as well as
eligible Siren Retail roles.
Career Mobility: Craft isn’t just
about coffee – it shows up in how partners hone and master their
craft in their day-to-day roles. To further support partner career
growth and mobility, the company is exploring credential and
certification programs to build on the industry-leading Starbucks
College Achievement Plan.
More than 23,000 partners are currently on
their unique educational journey to earning their first-time
bachelor’s degree through Starbucks College Achievement Plan
(SCAP), a first of its kind partnership with Arizona State
University’s (ASU) top-ranked online degree program. Tuition and
fees are covered upfront for partners, helping to remove the hurdle
of rising tuition costs that often block their pathway. To date,
more than 10,000 partners have graduated and 20% of partners
enrolled in SCAP are first-generation college students. Starbucks
is committed to helping at least 25,000 partners graduate by 2025,
with an expected investment of approximately $250 million or more
by 2025.
Financial Wellness: Financial wellness
is feeling confident about your financial outlook and knowing what
to do next with your money. Financial wellness benefits at
Starbucks are grounded with equity ownership in the company through
annual Bean Stock grants, which have awarded more than $2 billion
in additional earnings to partners, to-date. That’s why our
employees are called partners—we each have an ownership stake in
the future success of our business. Starting this January, partners
will be able to sign up to receive the new Siren Card – a premium
card offering a high-tech banking experience designed exclusively
for Starbucks Partners. Built with cred.ai and Visa USA, the Siren
Card comes packed with exclusive tech features, the world's first
"automatic credit score optimizer," 24/7 support, and the guarantee
to never pay account fees or interest, all supporting financial
wellness with zero effort.
Partner-Centric Scheduling: Starbucks
is dedicated to partner-centric scheduling and providing partners
with hours that align with their individual needs and preferences
is a top priority. This is reflected in Starbucks commitment to
diligently create work schedules that carefully balance the
availability of our partners with the staffing needs of individual
stores. To achieve this, Starbucks collects a range of preferred,
minimum, and maximum hours to build a complete picture of partner
preferences and assist store managers in scheduling and managing
their workforce. This improved scheduling protocol will enable
partners to contribute to the personalization of their ideal
schedules. Together, these efforts will help Starbucks improve the
stability, flexibility, and consistency of schedules.
These investments are all part of the company’s legacy of
providing top-tier benefits, surpassing competitors to offer
unmatched value while evolving its offerings in response to partner
feedback. The company recognizes changes to wages, benefits, and/or
terms and conditions may not be unilaterally implemented for
partners in stores with organizing underway and may be subject to
collective bargaining in good faith for partners in stores with
certified union representation. As part of the company’s partner
promise, and through ongoing partner investments like these, the
company is devoted to bridge a better future for all partners like
Vic, Corinne, Justin and Andrea.
Vic Ruiz, store manager from Ladera Ranch, CA, recounts his
heartfelt experience of how the Starbucks Family Expansion
Reimbursement Program made it possible for him and his wife to
adopt a wonderful baby girl: "I look at the whole process and
I'm just blown away. Starbucks made it a lot easier and has those
benefits to support anybody to live the dream of becoming a parent.
It didn't cover the entire adoption and we didn't expect that. But
it does give you peace of mind. It does ease it a little bit that
some of those costs are covered. It took a little bit of weight off
our shoulders and made that financial impact a little more
manageable."
Corinne Kinder, store manager from Wentzville, MO, shares her
experience of utilizing her Bean Stock to secure a down payment for
her dream home, while offering valuable guidance to her fellow new
store partners: "In conversations with my partners, I go
through the benefits and how it has positively impacted my life and
how it can positively impact them. I tell them, next year you're
going to accrue Bean Stock. This is why we're partners because we
own stock, because you can use it to empower what you want to do in
your life. You can buy the house, you can buy the car, you can
choose to keep it going or you can sell it to do the things you
want or need to do. It's an amazing benefit. Let that money work
for you and what you want to do in life."
Justin Brengel, a barista from Deltona, FL, shares how his
eight years in store paved the way for his college journey and the
pursuit of an extraordinary fellowship (internship) experience at
Starbucks Support Center: “Currently, I am pursuing a degree in
criminal justice and criminology. However, after taking a class in
digital marketing, I have become interested in pursuing a career in
this field or communications. It is the storytelling element in
these areas that I have come to truly enjoy. Going back to school
has provided me with this opportunity to change my life, even
though I am now doing something outside of my degree.”
Andrea Coyle, store manager from Beverly Hills, CA, talks
about her initial exposure to mental health support, thanks to the
services offered by Lyra: "Because of the coverage I have, I
feel like I can actually, finally, take care of my health. I've had
the same therapist the entire time. I truly think she changed my
life."
For decades, Starbucks has consistently offered hourly partners
the best benefits and perks in the industry—including comprehensive
medical, dental and vision coverage options for eligible partners
and their families and industry-leading gender-affirming care and
Family Expansion Reimbursement Assistance benefits. With
flexibility to choose from more than 20 plans that vary in terms of
how medical expenses are covered and how much the plans cost out of
partner paychecks and out of pocket, partners are empowered to
choose the plans and programs that best align with their needs and
goals.
Learn more about how Starbucks continues to deliver the best
benefits for hourly retail work.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to
ethically sourcing and roasting high-quality arabica coffee. Today,
with more than 38,000 stores worldwide, the company is the premier
roaster and retailer of specialty coffee in the world. Through our
unwavering commitment to excellence and our guiding principles, we
bring the unique Starbucks Experience to life for every customer
through every cup. To share in the experience, please visit us in
our stores or online at stories.starbucks.com or
www.starbucks.com.
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Starbucks Contacts: Rachel Wall / Angele
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