Starbucks has earned the top industry honors, for the third time, in recognition of its Unparalleled Partner Investments built on the Core Values of ‘Shared Humanity’
SHANGHAI; August 31, 2017– Starbucks Corporation (Nasdaq: SBUX) announced it has been awarded the Aon Best Employers – China 2017 for the Company’s market-leading employment best-practices in the areas of employee engagement, building a compelling “employer-of-choice” brand, effective leadership and high-performance culture. The Aon Best Employers – China 2017 list has been released by Aon Hewitt, a leading global provider of talent, retirement and health solutions, after a comprehensive study on 113 companies in China. This is the third time Starbucks has received this prestigious industry recognition after winning the award in 2013 and 2015.
Partner-focused Culture Built on the Foundations of “Shared Humanity”
Love, humanity and opportunity are three words that best represent the values and partner-focused culture Starbucks aims to build in China. Calling its employees “partners” reflects Starbucks deep commitment to bring the magic of its core purpose to lead through the lens of humanity, and to share its successes with its partners while consistently exceeding each partner’s expectations.
“I am delighted Starbucks has been recognized again as one of the best employers in China by Aon Hewitt. It is a firm testament to our partner-focused investments, but also a reminder of the responsibilities we have toward our partners as we continue to grow in China,” said Belinda Wong, ceo, Starbucks China. “Starbucks China is an extended family and we stand firm in our commitment to create a welcoming environment where each individual feels a warm sense of belonging. Our aspiration goes beyond any industry recognitions. We want to become a most trusted family member to our 40,000 partners.”
Starbucks not only provides its partner with the opportunity to share in its success by becoming shareholders through the Bean Stock program, it has also invested in benefits, including the housing allowance subsidy for full-time baristas and shift supervisors, and a Career Coffee Break, which aims to recognize, appreciate and honor the hard work put in by long-tenure partners. Earlier this year, Starbucks pioneered the Starbucks China Parent Care Program. It provides the parents of eligible full-time partners with a fully sponsored critical health insurance plan. This industry-leading investment addresses a key concern of thousands of Chinese partners about their financial ability to provide for their parents’ long-term care should a family emergency occur. To date, Starbucks has purchased critical illness insurance for over 12,000 parents of its Chinese partners, among which, seven individuals will be receiving immediate financial assistance to alleviate health care and treatment costs associated with a critical illness.
Career Development Opportunities Amidst Rapid Expansion Plans
Since the opening of the first store in 1999, China has become Starbucks largest and fastest growing international market. Today, Starbucks operates more than 2,800 stores in over 130 cities, with nearly 40,000 partners who proudly wear the green apron. Over the next few years, Starbucks will open more than 500 stores a year and create over 10,000 new employment opportunities in the market. To support this unprecedented growth agenda, Starbucks will need a store manager every 15 hours and high-potential Starbucks store managers will have the opportunity to advance to the role of a district manager every week.
To support Starbucks talent development efforts, the Starbucks China University was established to train new leaders in areas including coffee knowledge, leadership skills and retail management, and equip talented partners to fast-track their careers within the company. In addition, the newly established Partner Contact Center (PCC) WeChat Service aims to enhance the support given to partners in their personal development by addressing personal inquiries, on topics including personal benefits and policies, in a timely manner.
Not Every Decision in Business Is an Economic One
As Howard Schultz, executive chairman, Starbucks Coffee Company has said, “Not every decision in business is an economic one.” Starbucks early successes in China have been built on the understanding that the value the Company creates for its partners, and the value it creates for its shareholders and customers should take equal priority.
Starbucks it is committed to taking even bolder steps to invest in its partners, find innovative and relevant new ways to elevate the partner experience and to do everything possible to earn the trust and confidence of its partners as it continues to realize its ambitions to operate 5,000 stores in China by 2021.