Starbucks UK Announces Two Initiatives to Help Partners with Cost of Living
The coffee shop chain unveiled two new initiatives to help employees, particularly those aged under-25, tackle the cost of living.
Under the Home Sweet Loan programme, developed by Shelter as the Tenancy Deposit Loan Scheme, Starbucks will provide an interest-free loan to help partners pay rental deposits when they're moving into a new home. The first-of-its-kind programme is being launched by a private company in the UK, following the example of government departments and the Co-operative.
Starbucks has also announced plans to extend the National Living Wage to all partners, including those aged under the age of 25. This commitment to the National Living Wage recommendations will increase its basic pay to £7.20 per hour in April 2016 for all employees, including apprentices and more than 4,500 members of staff who are under 25. Going beyond the Government’s recommendations, Starbucks will also pay a London Premium for partners working in the capital.
“We are really proud to be the first private company to implement Shelter’s innovative Tenancy Deposit Loan Scheme,” said Kris Engskov, president of Starbucks EMEA.
“We know the cost of living is a key concern for many, with the average rental deposit in England now is £1,226.* And with over half of our partners being under 25 years old, that rent affordability especially is an issue that affects them. These initiatives are two of the ways we are able to support the great people that work with us."
