Starbucks is introducing 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.
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