27th Jan 2011 - 00:00
Abstract
Starbucks UK has today announced that it is rewarding its staff, or ‘partners’ as they’re also known, with up to £500 in company shares. The reward comes as the coffee giant reported six consecutive quarters of growth.
But what does someone do with the shares and how do they use them to better their lives? Steve Talevski, Starbucks District Manager, is just one partner who's reaped the benefits. Steve Talevski, originally from Australia, is a district manager for the Islington district in London and has been with Starbucks for 13 years. He started as a barista while in the UK during a six-month travelling trip around Europe and found the job so rewarding that he never left. He has worked his way up through the business and now looks after a district of 11 stores. "A career at Starbucks is truly about the people, I love getting to know my customers and staff. 90% of the friends I've made in London I met through my job. I've learnt so many skills, and experienced a wealth of different things from opening a new store in Athens to a year's secondment at Starbucks head office in the Learning and Development team." Through the Starbucks Bean Stock benefit, which is available to all Starbucks partners, Steve has also been able to fund some major life purchases. "My partner Kim and I had saved and saved to buy a flat, and once we'd completed the sale we realised we didn't have enough money for any of the refurbishments we desperately needed to do. I cashed in my Starbucks Bean Stock shares and was able to pay for a brand new kitchen and half of the bathroom as well. When I was given the Stock it was worth $7, and I was able to sell it for $36 a share which was amazing." Earning more Bean Stock benefits each year has meant Steve has been able to make further investments, from purchasing land in Australia and most recently funding £3,500 worth of dental surgery to give him his smile back. "Kim and I were keen to buy some land in Australia on a fabulous development which was selling extremely quickly. We were £4,000 short of the deposit and would have missed the opportunity if it wasn't for my Bean Stock. Most recently I've been able to invest in some dental surgery to restore two damaged teeth meaning I can grin properly again. "Bean Stock is a wonderful benefit because it gives you a real stake in the business and you know that the better Starbucks is doing the more you are rewarded. I've still got shares left, and this year we are being awarded actual stock which means I have a lot to look forward to."
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