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6 Starbucks Employee Benefits That Make A Difference: Why Employees Love Working Here
Explore how Starbucks brews success for its partners with top benefits like healthcare, stock options, education support, and more. See what makes working at Starbucks uniquely rewarding.
Explore how Starbucks brews success for its partners with top benefits like healthcare, stock options, education support, and more. See what makes working at Starbucks uniquely rewarding.
Mar 19, 2024
-
5
min read
In this Post
Starbucks, from its inception, has always been a trailblazer. Not just in crafting divine, whole-bean coffee, but in fostering real human ties. This coffee house has more than 17,000 stores in North America and 18,000 stores globally. Beyond its consumer offerings, Starbucks is committed to providing its employees with an excellent working environment.
The company’s mission statement extends to its employees, referred to as ‘partners’. All employees who clock 20 hours or more per week are eligible for Starbucks employee benefits, known as ‘Your Special Blend’. These incredible perks are tailored to each employee’s specific needs.
Let’s delve into the best Starbucks employee benefits!
The 6 Top Starbucks Employee Benefits & Perks That Win Employees Over
1. Healthcare Coverage
Starbucks puts the well-being of its employees front and center. A primary pillar of Starbucks' employee benefits is a comprehensive healthcare package. This includes medical, dental, vision insurance, and a prescription drug plan.
Starbucks also offers a comprehensive transgender medical benefits policy. This plan covers gender reassignment surgery, as well as breast reduction or augmentation surgery, hair transplants, and facial feminization, amongst others.
The company also extends its health coverage to include industry-leading mental health providers, showing its commitment to diversity, equity, and inclusion.
Speaking of inclusion, Starbucks launched an Inclusion & Diversity mentoring program in 2021. The key focus was to create an inclusive and supportive environment for all employees. This is achieved by giving mentors the platform to offer their guidance and encouragement. Employees are encouraged to share their experiences, challenges and any aspirations.
1,400 employees have taken part in the program as of 2023.
Healthcare coverage is available to every partner enrolled in Starbucks' medical insurance plan. Aside from medical insurance, Starbucks also offers its employees:
Life Insurance
Starbucks provides life insurance coverage to all eligible employees. Retail staff receive $5,000. Non-retail or salaried staff receive coverage equivalent to their annual base pay.
Supplemental coverage, up to four times the base pay for non-retail and salaried staff, is available at an additional cost.
Related: Coca-Cola's Comprehensive Health Benefits
Disability Coverage
Starbucks ensures income stability for its employees during illness or injury through its disability plans.
This includes Short Term Disability (STD) for temporary setbacks and Long Term Disability (LTD) for non-retail or salaried employees, funded entirely by the company. Retail staff can opt into the Long Term Disability plan at their own expense.
2. Stock Options
Starbucks values the future security of its employees, offering several stock options as part of its benefits package. One such program is the Stock Investment Plan (SIP), designed to empower employees financially.
This plan provides eligible employees the opportunity to purchase company stock quarterly at a 5% discount, contributing between 1% and 10% of their base pay each pay period.
Another enticing stock option Starbucks offers is the Bean Stock program. Much like the SIP, Starbucks offers this equity reward to eligible employees at no personal cost.
With Bean Stock, employee shares increase the longer they are a part of the Starbucks family. This gives partners the flexibility to retain or sell their shares, providing another layer of financial security.
3. Parental Leave
Starbucks' Paid Parental Leave policy is a benefit for partners welcoming a new child, either via childbirth, adoption, or foster placement. This policy gives new parents the time they need for physical recovery post-childbirth and for forming a bond with their new child.
Only benefit-eligible partners can access this provision. However, partners who don’t qualify may still apply for alternative leave types.
The duration and remuneration for the paid parental leave vary depending on the position:
Retail managers and employees (birth and non-birth parents) enjoy six weeks of paid leave and up to 12 weeks of unpaid leave.
Non-retail partners (birth and non-birth parents) enjoy up to 12 weeks of paid leave. Birth parents may qualify for an extra six or eight weeks of paid leave, depending on the delivery method.
All paid leaves are compensated at 100% of average pay.
Related: Pizza Hut's Employee Balance In Work and Personal Life
4. Tuition Assistance
Starbucks makes education attainable for everyone with its College Achievement Plan. This plan offers part-time and full-time partners the chance to earn a bachelor's degree online through Arizona State University.
This benefit covers tuition costs not met by need-based financial aid. Starbucks reimburses the funds in your paycheck towards the end of the semester.
However, the perk doesn't extend to textbooks or particular course fees. Also, eligibility is exclusive to partners working at a standalone Starbucks, excluding those at licensed branches in grocery stores.
Related: Target's Employee Career Development Opportunities
5. 401(k) Retirement Savings Plan
Starbucks opens the door to a secure future with its cleverly named ‘Future Roast 401(k)’ retirement plan. Partners can add to their 401(k) using pre-tax or Roth post-tax dollars. This plan is available to all employees aged 18 or older after 90 days, and it allows contributions of up to $19,500 annually. Partners aged 50+ can contribute up to $26,000 based on the Starbucks employee benefits 2021 package.
The cherry on top? The company matches 100% of the first 5% of eligible pay contributed each pay period. If an employee decides not to contribute during a particular period, Starbucks won't match for that period.
Starbucks instantly 100% vests each match, meaning partners own the matched contributions as soon as they enter their accounts.
6. Paid Time Off (PTO)
Retail Starbucks employees start accumulating paid vacation benefits after a year of continuous service. For every 30 hours clocked, part-time workers receive one hour of paid vacation. Starbucks also gives its salaried employees one personal day every six months, specifically on July 1st and January 1st.
Employees must use these personal days within the following six-month period, as they expire after that. The allocation and specifics of these vacation benefits vary based on location, position, and duration of employment at Starbucks.
Related: Samsung Employee Paid Leave Benefits
Final Thoughts
Employee benefits are pivotal in attracting and retaining top talent. They show that a company values its employees, creating a positive and satisfying work culture. The comprehensive range of Starbucks employee benefits provides a shining example for companies seeking to improve their own programs.
Starbucks’ health coverage and parental leave perks make it easy to attract diverse talent as it shows the company's commitment to overall employee wellness. On top of that, other perks like tuition assistance and the 401k retirement savings plan contribute to growth and secure futures for Starbucks employees (or partners, as they respectfully refer to their staff).
These perks benefit employees and improve Starbucks' brand image and success by portraying it as a socially responsible employer.
Are you looking for an excellent, timesaving addition to your employee benefits program? Try PerkUp! We’re a user-friendly platform that offers a variety of employee perks, from discounts to health and wellness programs, all in one easy-to-use app.
Book a demo today!
Starbucks, from its inception, has always been a trailblazer. Not just in crafting divine, whole-bean coffee, but in fostering real human ties. This coffee house has more than 17,000 stores in North America and 18,000 stores globally. Beyond its consumer offerings, Starbucks is committed to providing its employees with an excellent working environment.
The company’s mission statement extends to its employees, referred to as ‘partners’. All employees who clock 20 hours or more per week are eligible for Starbucks employee benefits, known as ‘Your Special Blend’. These incredible perks are tailored to each employee’s specific needs.
Let’s delve into the best Starbucks employee benefits!
The 6 Top Starbucks Employee Benefits & Perks That Win Employees Over
1. Healthcare Coverage
Starbucks puts the well-being of its employees front and center. A primary pillar of Starbucks' employee benefits is a comprehensive healthcare package. This includes medical, dental, vision insurance, and a prescription drug plan.
Starbucks also offers a comprehensive transgender medical benefits policy. This plan covers gender reassignment surgery, as well as breast reduction or augmentation surgery, hair transplants, and facial feminization, amongst others.
The company also extends its health coverage to include industry-leading mental health providers, showing its commitment to diversity, equity, and inclusion.
Speaking of inclusion, Starbucks launched an Inclusion & Diversity mentoring program in 2021. The key focus was to create an inclusive and supportive environment for all employees. This is achieved by giving mentors the platform to offer their guidance and encouragement. Employees are encouraged to share their experiences, challenges and any aspirations.
1,400 employees have taken part in the program as of 2023.
Healthcare coverage is available to every partner enrolled in Starbucks' medical insurance plan. Aside from medical insurance, Starbucks also offers its employees:
Life Insurance
Starbucks provides life insurance coverage to all eligible employees. Retail staff receive $5,000. Non-retail or salaried staff receive coverage equivalent to their annual base pay.
Supplemental coverage, up to four times the base pay for non-retail and salaried staff, is available at an additional cost.
Related: Coca-Cola's Comprehensive Health Benefits
Disability Coverage
Starbucks ensures income stability for its employees during illness or injury through its disability plans.
This includes Short Term Disability (STD) for temporary setbacks and Long Term Disability (LTD) for non-retail or salaried employees, funded entirely by the company. Retail staff can opt into the Long Term Disability plan at their own expense.
2. Stock Options
Starbucks values the future security of its employees, offering several stock options as part of its benefits package. One such program is the Stock Investment Plan (SIP), designed to empower employees financially.
This plan provides eligible employees the opportunity to purchase company stock quarterly at a 5% discount, contributing between 1% and 10% of their base pay each pay period.
Another enticing stock option Starbucks offers is the Bean Stock program. Much like the SIP, Starbucks offers this equity reward to eligible employees at no personal cost.
With Bean Stock, employee shares increase the longer they are a part of the Starbucks family. This gives partners the flexibility to retain or sell their shares, providing another layer of financial security.
3. Parental Leave
Starbucks' Paid Parental Leave policy is a benefit for partners welcoming a new child, either via childbirth, adoption, or foster placement. This policy gives new parents the time they need for physical recovery post-childbirth and for forming a bond with their new child.
Only benefit-eligible partners can access this provision. However, partners who don’t qualify may still apply for alternative leave types.
The duration and remuneration for the paid parental leave vary depending on the position:
Retail managers and employees (birth and non-birth parents) enjoy six weeks of paid leave and up to 12 weeks of unpaid leave.
Non-retail partners (birth and non-birth parents) enjoy up to 12 weeks of paid leave. Birth parents may qualify for an extra six or eight weeks of paid leave, depending on the delivery method.
All paid leaves are compensated at 100% of average pay.
Related: Pizza Hut's Employee Balance In Work and Personal Life
4. Tuition Assistance
Starbucks makes education attainable for everyone with its College Achievement Plan. This plan offers part-time and full-time partners the chance to earn a bachelor's degree online through Arizona State University.
This benefit covers tuition costs not met by need-based financial aid. Starbucks reimburses the funds in your paycheck towards the end of the semester.
However, the perk doesn't extend to textbooks or particular course fees. Also, eligibility is exclusive to partners working at a standalone Starbucks, excluding those at licensed branches in grocery stores.
Related: Target's Employee Career Development Opportunities
5. 401(k) Retirement Savings Plan
Starbucks opens the door to a secure future with its cleverly named ‘Future Roast 401(k)’ retirement plan. Partners can add to their 401(k) using pre-tax or Roth post-tax dollars. This plan is available to all employees aged 18 or older after 90 days, and it allows contributions of up to $19,500 annually. Partners aged 50+ can contribute up to $26,000 based on the Starbucks employee benefits 2021 package.
The cherry on top? The company matches 100% of the first 5% of eligible pay contributed each pay period. If an employee decides not to contribute during a particular period, Starbucks won't match for that period.
Starbucks instantly 100% vests each match, meaning partners own the matched contributions as soon as they enter their accounts.
6. Paid Time Off (PTO)
Retail Starbucks employees start accumulating paid vacation benefits after a year of continuous service. For every 30 hours clocked, part-time workers receive one hour of paid vacation. Starbucks also gives its salaried employees one personal day every six months, specifically on July 1st and January 1st.
Employees must use these personal days within the following six-month period, as they expire after that. The allocation and specifics of these vacation benefits vary based on location, position, and duration of employment at Starbucks.
Related: Samsung Employee Paid Leave Benefits
Final Thoughts
Employee benefits are pivotal in attracting and retaining top talent. They show that a company values its employees, creating a positive and satisfying work culture. The comprehensive range of Starbucks employee benefits provides a shining example for companies seeking to improve their own programs.
Starbucks’ health coverage and parental leave perks make it easy to attract diverse talent as it shows the company's commitment to overall employee wellness. On top of that, other perks like tuition assistance and the 401k retirement savings plan contribute to growth and secure futures for Starbucks employees (or partners, as they respectfully refer to their staff).
These perks benefit employees and improve Starbucks' brand image and success by portraying it as a socially responsible employer.
Are you looking for an excellent, timesaving addition to your employee benefits program? Try PerkUp! We’re a user-friendly platform that offers a variety of employee perks, from discounts to health and wellness programs, all in one easy-to-use app.
Book a demo today!
Starbucks, from its inception, has always been a trailblazer. Not just in crafting divine, whole-bean coffee, but in fostering real human ties. This coffee house has more than 17,000 stores in North America and 18,000 stores globally. Beyond its consumer offerings, Starbucks is committed to providing its employees with an excellent working environment.
The company’s mission statement extends to its employees, referred to as ‘partners’. All employees who clock 20 hours or more per week are eligible for Starbucks employee benefits, known as ‘Your Special Blend’. These incredible perks are tailored to each employee’s specific needs.
Let’s delve into the best Starbucks employee benefits!
The 6 Top Starbucks Employee Benefits & Perks That Win Employees Over
1. Healthcare Coverage
Starbucks puts the well-being of its employees front and center. A primary pillar of Starbucks' employee benefits is a comprehensive healthcare package. This includes medical, dental, vision insurance, and a prescription drug plan.
Starbucks also offers a comprehensive transgender medical benefits policy. This plan covers gender reassignment surgery, as well as breast reduction or augmentation surgery, hair transplants, and facial feminization, amongst others.
The company also extends its health coverage to include industry-leading mental health providers, showing its commitment to diversity, equity, and inclusion.
Speaking of inclusion, Starbucks launched an Inclusion & Diversity mentoring program in 2021. The key focus was to create an inclusive and supportive environment for all employees. This is achieved by giving mentors the platform to offer their guidance and encouragement. Employees are encouraged to share their experiences, challenges and any aspirations.
1,400 employees have taken part in the program as of 2023.
Healthcare coverage is available to every partner enrolled in Starbucks' medical insurance plan. Aside from medical insurance, Starbucks also offers its employees:
Life Insurance
Starbucks provides life insurance coverage to all eligible employees. Retail staff receive $5,000. Non-retail or salaried staff receive coverage equivalent to their annual base pay.
Supplemental coverage, up to four times the base pay for non-retail and salaried staff, is available at an additional cost.
Related: Coca-Cola's Comprehensive Health Benefits
Disability Coverage
Starbucks ensures income stability for its employees during illness or injury through its disability plans.
This includes Short Term Disability (STD) for temporary setbacks and Long Term Disability (LTD) for non-retail or salaried employees, funded entirely by the company. Retail staff can opt into the Long Term Disability plan at their own expense.
2. Stock Options
Starbucks values the future security of its employees, offering several stock options as part of its benefits package. One such program is the Stock Investment Plan (SIP), designed to empower employees financially.
This plan provides eligible employees the opportunity to purchase company stock quarterly at a 5% discount, contributing between 1% and 10% of their base pay each pay period.
Another enticing stock option Starbucks offers is the Bean Stock program. Much like the SIP, Starbucks offers this equity reward to eligible employees at no personal cost.
With Bean Stock, employee shares increase the longer they are a part of the Starbucks family. This gives partners the flexibility to retain or sell their shares, providing another layer of financial security.
3. Parental Leave
Starbucks' Paid Parental Leave policy is a benefit for partners welcoming a new child, either via childbirth, adoption, or foster placement. This policy gives new parents the time they need for physical recovery post-childbirth and for forming a bond with their new child.
Only benefit-eligible partners can access this provision. However, partners who don’t qualify may still apply for alternative leave types.
The duration and remuneration for the paid parental leave vary depending on the position:
Retail managers and employees (birth and non-birth parents) enjoy six weeks of paid leave and up to 12 weeks of unpaid leave.
Non-retail partners (birth and non-birth parents) enjoy up to 12 weeks of paid leave. Birth parents may qualify for an extra six or eight weeks of paid leave, depending on the delivery method.
All paid leaves are compensated at 100% of average pay.
Related: Pizza Hut's Employee Balance In Work and Personal Life
4. Tuition Assistance
Starbucks makes education attainable for everyone with its College Achievement Plan. This plan offers part-time and full-time partners the chance to earn a bachelor's degree online through Arizona State University.
This benefit covers tuition costs not met by need-based financial aid. Starbucks reimburses the funds in your paycheck towards the end of the semester.
However, the perk doesn't extend to textbooks or particular course fees. Also, eligibility is exclusive to partners working at a standalone Starbucks, excluding those at licensed branches in grocery stores.
Related: Target's Employee Career Development Opportunities
5. 401(k) Retirement Savings Plan
Starbucks opens the door to a secure future with its cleverly named ‘Future Roast 401(k)’ retirement plan. Partners can add to their 401(k) using pre-tax or Roth post-tax dollars. This plan is available to all employees aged 18 or older after 90 days, and it allows contributions of up to $19,500 annually. Partners aged 50+ can contribute up to $26,000 based on the Starbucks employee benefits 2021 package.
The cherry on top? The company matches 100% of the first 5% of eligible pay contributed each pay period. If an employee decides not to contribute during a particular period, Starbucks won't match for that period.
Starbucks instantly 100% vests each match, meaning partners own the matched contributions as soon as they enter their accounts.
6. Paid Time Off (PTO)
Retail Starbucks employees start accumulating paid vacation benefits after a year of continuous service. For every 30 hours clocked, part-time workers receive one hour of paid vacation. Starbucks also gives its salaried employees one personal day every six months, specifically on July 1st and January 1st.
Employees must use these personal days within the following six-month period, as they expire after that. The allocation and specifics of these vacation benefits vary based on location, position, and duration of employment at Starbucks.
Related: Samsung Employee Paid Leave Benefits
Final Thoughts
Employee benefits are pivotal in attracting and retaining top talent. They show that a company values its employees, creating a positive and satisfying work culture. The comprehensive range of Starbucks employee benefits provides a shining example for companies seeking to improve their own programs.
Starbucks’ health coverage and parental leave perks make it easy to attract diverse talent as it shows the company's commitment to overall employee wellness. On top of that, other perks like tuition assistance and the 401k retirement savings plan contribute to growth and secure futures for Starbucks employees (or partners, as they respectfully refer to their staff).
These perks benefit employees and improve Starbucks' brand image and success by portraying it as a socially responsible employer.
Are you looking for an excellent, timesaving addition to your employee benefits program? Try PerkUp! We’re a user-friendly platform that offers a variety of employee perks, from discounts to health and wellness programs, all in one easy-to-use app.
Book a demo today!
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