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Starbucks to connect executive pay to diversity goals in 2021

Starbucks to connect executive pay to diversity goals in 2021
Posted at 12:33 PM, Oct 15, 2020

Coffee giant Starbucks has set a goal to become more diverse: by 2025, they want 30% of its corporate employees and 40% of its retail and manufacturing employees to be Black, indigenous, and people of color.

The Seattle-based company made the announcement Wednesday as they look to create a more diverse and equitable workplace to "advance racial and social equity as part of its ongoing journey to create a welcoming and inclusive Third Place."

"As we consider the role and responsibility of Starbucks, as a company, to lead by example in areas of inclusion, diversity, and equity, we will be intentional about the actions we take and how they line up with our Mission and Values, commit to transparency with all stakeholders about our thinking and our goals, and hold ourselves accountable," Starbucks CEO Kevin Johnson said in a letter to employees.

They also are starting a new mentorship program, anti-bias training requirements, and other initiatives.

The company added that it'll connect its executive compensation program to its goals of building "inclusive and diverse teams."

Starbucks says these diversity goals will ensure that its coffee shops are "welcoming places for all."