Transcript for Summa Cum Latte: Starbucks Offers Unique Employee Perk
Okay. It is Monday June 16 Wall Street is open for business and today's big number 135000. That is how many employees at Starbucks. Are -- to be eligible for a one of -- kind very cool -- Everyone I'm Dan Butler in New -- are here with the eye opening details loyalists -- On Monday morning until Lauren what's up what's -- what's up to. -- -- Lax is offering very interesting part it's not -- we know that -- -- parked -- Danny gets me her step as well. Their very Collins to listen to their employees -- -- that work at least twenty hours so part timers. Are eligible there's no requirement for how -- need to have worked there how long you stayed there after you get your education but. You if you if you get admitted to Arizona State university's online bachelor's program. Start -- paper figured higher tuition if he had tears of credits already piled up if you don't -- paper happier tuition and -- get to this year's -- -- -- foot the -- for the entire. Precedents and this is. -- big investment in their employees that. Starbucks -- will come back to them in the form of benefiting their branding and being accretive to their reputation. Well that's I want to ask you about -- because obviously you look at it from the outside and it's a great PR move but I mean I -- Starbucks actually capitalize on making that kind of investment because that's no. -- -- mean a lot of coverage of that kind of tuition matching. Yes but for a full ride. A full ride and also what's different about it is -- Starbucks is not restricted so -- companies have. Programs that help pay for school even service companies -- companies -- have kind of service retail please companies like Limited Brands which owns Victoria's Secret and also how deep but those are more restrictive program that either limit. What you can study or how long -- need to be with the company or what type of employee need to be. Starbucks -- and -- those limitations so what Howard Schultz is CEO is saying is it. One thing and it's what I mentioned that he thinks this will benefit the brand will be accretive to the grant will make people more. Committed today at Brandon invested in it but also he thinks it's going to attract and it -- -- cause and to retain. The better employees more dedicated employees and ended that will help lower attrition in. And just in general help with kind of there there ate their human resource is saying and the employees that they have. And there are indications that that does that -- -- companies you know Costco is often cited examples they. Pay -- employees better than what you might expect from a retailer. And they indicate day because of that they have -- -- turnover that helps and not need to hire as many or. Train as many workers and have more a more dedicated staff and that helps with the turnover rates so a very indication that that -- can now Starbucks is certainly making an investment and hoping that it -- what. On the website. Carter Howard Schultz shares bit of a personal story about how important college was to -- -- and -- and says. This plant for him. Demonstrates the heart and conscience of Starbucks now that's a very -- usual business sentiment going to be putting that much emotion. Do Harden -- business -- This gaffe he is he is unique when you look at CEOs you know -- -- of the company that believes in and investing in its employees. Aid and hats -- offer stock they have some ankle being -- where they opera stock options they have a 401K matching plan they offer health insurance so. They have believed in investing in their ploys employees BI and what sons. Retailers. Or -- service oriented businesses. Have so that is unique and in terms of Howard Schultz -- personal experience you know. He grew up in public housing in brook -- He had the opportunity to go to school which obviously -- a yankees the first in his family to go to school. Because of some -- I think was a scholarship. And so those are some of that things that helped obviously sad and set in the to have the massive success he enjoys today in any appears at least that he's been pretty good about paying it forward. And immediate hope more employees are more players we did this saying you know I should mention it's not all sunshine and rainbows for Starbucks -- they have been a -- accused. I'm trying to -- the unionization attempts. Is not unusual for our company today here that a lot but Starbucks has definitely gotten that criticism. So I don't wanna make it sound like they've escaped you know. Any kind of criticism for -- and employment practices but certainly they do in a -- and employees in a way that's quite admirable. Yeah and they did get some pretty high for high profile recognition Oprah a lot of Starbucks fans all over developed a -- sold at Starbucks and this is what she tweeted about -- -- -- I'm so proud of my partners at Starbucks look at what they're doing now. Mean when you get that kind of endorsement coming out that's going after her 24 million plus followers on Twitter that's that's not a bad reaction that you're -- or for something like this. But this is also boost -- on my college program -- or state university is well right now they've been saying that they're going to be anticipating an even higher. Number of enrollment not just for Starbucks employs the -- -- you see that Arizona State is teaming up a Starbucks and a program. There could become at a truck trickle down effect. -- -- Knight certainly at generates and sent interest and awareness about the fact ASU has this program it. Actually is reported to be quite respectable four and online degree ads now are member of different subject saying. This is definitely will raise awareness about today. The right now they have 111000 students so if you think about it Starbucks has a 135000. Employees. That are now eligible. For this -- -- for work twenty hours I should also -- -- 25% of employees according to Bloomberg at Starbucks. They are to have bachelor's -- the whole other -- conversation about why there working Starbucks but. But yeah I mean in a -- -- help Arizona state university in terms -- students in terms. This strength of their program and I -- next. And that that it gets in the awareness surrounding it certainly does all this aside -- house street house Wall Street view in this. -- ad market -- firm for this stock this isn't something that's expected today to move the needle much but looking at Starbucks is done and done well over the years not as -- good recently -- it's down 2% in the last. Six months it's up 13% in the last twelve. But over the years the Starbucks has paid off handsomely as an investment. For investors it's up over 400%. In the last five years so certainly looking at the long term. In the days and that's employees hasn't hurt Starbucks. -- helps them. Interesting interest and we'll see how the tassel will be turned on this one -- -- yeah finance. Well aren't happy about it she always good to see you as well happy that -- deceit of course you get the latest headlines right here on abcnews.com. -- watching the big number. I'm -- elsewhere New York.
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