Starbucks - Helping Employees Get On the Housing Ladder
By Jatinder Singh, Associate Partner, Lighthouse International
We recently showed how the CEO of Starbucks, Howard Schultz, takes his responsibility for the company’s employees very seriously, both for moral and business reasons.
As someone who grew up in a family with very little money and in government housing, Schultz has always remembered his roots. He also knew that if he had happier employees, then there was a greater chance of happier customers!
So it’s great to see another new initiative being pioneered by Starbucks. Known for being unique in the level of benefits it gives employees, especially in an industry where this is unusual. Starbucks have announced they will offer interest-free loans to help their workers pay deposits on rental properties, while also increasing their minimum pay. This all comes ahead of any government rules that may come into play as part of the living wage allowance.
The housing support being introduced has come as a result of surveying their employees on what their biggest challenges were - not just in relation to their work life - but other areas of their lives too.
This provides a great example of a company wisely understanding the interconnectedness of everything and recognising the bigger picture. They see that what happens in an employee's personal life will also affect their work life too, because the two are never completely separate. Because of this the company is able to be a more empathic employer and provide solutions that can benefit both them and their people, on a win/win basis.
Read more about Starbucks' housing initiative here...
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