Disability Plan Coverage
In case an illness or injury prevents an employee from working, their disability plan coverage can provide them with partial income. There are Short-Term and Long-Term Disability coverage plans, the latter being provided automatically only to non-retail and salaried employees and the company paying the full premium, while retail employees can choose to purchase the coverage. Employee Assistance Program (EAP)
If any employee working in the U.S. is dealing with stress, emotional issues, personal problems or any workplace incident, they can get short-term counseling to help them out. As important as healthcare and similar coverage plans are, so is this program, because it helps Starbucks' partners feel better and improve their mental health, ultimately improving their overall quality of life. CUP (Caring Unites Partners) Fund
The CUP Fund
is yet another incredible benefits program that all Starbucks employees can apply for. It provides financial assistance to any worker who needs it after a natural disaster, illness, family death or any other extreme case. Commuter Benefit Program
Employees who need to commute to work can also save money on their commuting expenses, as Starbucks will enable pre-tax payroll deductions. Adoption Assistance
If any Starbucks' employee decides to adopt a child, the company will provide them with $10,000 for the necessary adoption expenses. The coffee company will also give them up to 6 weeks off, so that they can spend time with the child in its new home, and they will receive their full pay for the time off. Starbucks College Achievement Plan
While all the other "Your Special Blend" benefits are definitely astonishing, the College Achievement Plan may just be the best one. Starbucks invests in its employees and wants to help them get a college education, completely unrelated to a career at the coffee company.
Starbucks wants to help its partners get a bachelor's degree by providing them with full-tuition coverage for all four years at Arizona State University
. The tuition at ASU is about $15,000 a year, but everyone that enrolls in the program automatically receives a scholarship of 42% of the full tuition. Starbucks covers the remaining 58% of the full tuition, which means that the students in the program will receive full-tuition coverage.
According to a Starbucks' press release
, 1800 employees signed up during the first month of the College Achievement Plan (which was back in 2014), and the numbers keep surging to this day.
The plan includes over 70 undergraduate degree programs that are delivered online. What's more, Starbucks provides them with a dedicated enrollment coach, academic advisor, and financial aid counselor, so that they can have the best possible support they need to earn their degrees and improve their lives.
The employees who receive the tuition reimbursement don't have to keep working for the company after they graduate. They just need to work there during their studies.
Tying employees to the company that way is certainly beneficial to both parties, which is precisely why Starbucks started the plan. It helps the company significantly decrease its turnover rate and save a lot of money in the long run, which it would otherwise spend on recruiting and training every new employee.
Apart from all these benefits, "Your Special Blend" benefits package also includes perks regarding vacation, holidays and sick pay, as well as coverage plans for employees' partners, spouses, and children, which add a cherry on top of this incredible package that you cannot find anywhere else.
"Your Special Blend" truly is perfect for hourly workers, especially since every employee can tailor it to their individual needs.
Every company should definitely take a page from Starbucks' book and work towards providing their employees with the much-needed benefits that can improve their lives. They should follow in the coffee giant's footsteps and create a culture where every employee is equally valued, respected and seen as a partner, and where people can really grow and work in an inspiring community.