Monday, July 7, 2014
Order a Tall, Non-Fat Latte: Support an Employee’s Education
Starbucks says research, provided by ASU, shows that funding the semester up-front increases the drop-out rate. Tuition for ASU's online program is about $15,000 per year. "It's going to cost millions of dollars, but I don't view it as a cost," Starbucks CEO Howard Schultz told CNNMoney's Poppy Harlow in an interview. "I view it as an investment. And I'm so confident that this investment is going to drive performance and value for our shareholders." Most of Starbucks’ 135,000 U.S. employees are eligible to apply. The main question asked about this program is, why? When employees who graduate take off their caps and gowns, it's entirely possible they'll also hang up those green aprons. There's going to be more than enough options for those employees at the Starbucks of the future. They're consistently evolving in terms of what the stores are. The trick is to look at Starbucks as a consumer products company, not necessarily a coffee retailer. The approximately $30,000 cost of two years of tuition is worth it to keep quality employees with the company.(1) Starbucks did a great job at listening to their employees and coming up with an incentive system that not only motivates their employees to work but also helps better their lives. What is your company doing to motivate your employees and reward their accomplishments?
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1. Wallace, Gregory, and Amanda Hobor. "Starbucks Workers Could Pay $23,000 for 4-year Tuition." CNNMoney. Cable News Network, 20 June 2014. Web. 29 June 2014.