Quote:
Originally Posted by eipstudios
Starbucks Corp. (SBUX), which has offered company stock to store employees for more than two decades, will now begin picking up most of the tab for workers to get a degree through Arizona State University online.
Starbucks employees who work at least 20 hours a week and enroll in the university?s online bachelor?s degree will get $6,500 -- about half of their tuition -- for the first two years, the company said in a statement. They will then get full tuition for the final two.
?We?ve always known that our partners work hard every day,? Cliff Burrows, president of Starbucks? Americas region, said in a phone interview. ?This is the best way we can serve them.?
Starbucks, the world?s largest coffee-shop chain, has offered cafe workers restricted stock, known as Bean Stock, since 1991, and has a 401(k) matching program. Store employees get a free pound of coffee weekly, plus free beverages on work breaks and a 30 percent discount on Starbucks food, drinks and merchandise. The company previously offered as much as $1,000 a year in tuition reimbursement for employees who had worked at Starbucks at least one year.
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Getting my kid to quit McDonalds and switch over to Starbucks!
All kidding aside, a very smart move for Starbucks and ASU Online.
Starbucks reinvests their healthy profits into opening new locations in an attempt to corner the retail coffee market. They keep employee turnover low, which keeps hiring and training costs to a minimum, and they are educating their existing employees with an eye on keeping them on as management and leaders for their growing empire.
ASU - highlights their entry into the online/remote education business. Everyone remembers Phoenix University? Now ASU is going to step on their market share. Would not be surprised if ASU provides a reduced tuition discount to Starbucks as a company, so there is little to no out of pocket expense for Starbucks.