Big Ideas from Starbucks’ 2024 Meeting
On just his fourth day as the new Starbucks CEO, Laxman Narasimhan met with people from all over the company in a virtual meeting. He talked about what he learned from spending time with employees (called partners) and how these lessons will help Starbucks grow.
Dreaming Big for Starbucks
Laxman shared his exciting plan to make Starbucks even better. He said the company has endless possibilities but needs to fix some things to reach its full potential. He reminded everyone that the world is changing, and Starbucks needs to keep up.
Teaming Up for New Ideas
Laxman worked with the leadership team to figure out how Starbucks can grow and help others. They talked about using Starbucks’ resources to do good things, finding new ways to work, and making sure employees and communities feel supported.
Making Changes to Help Employees
Starbucks is putting a lot of effort into making life better for its employees. The company is spending over $1 billion to give better pay and benefits. On average, employees now make $17.50 an hour, and with added benefits, this could go up to $27.50 an hour! Starbucks also made it easier for customers to tip using cards and brought back programs like Coffee Masters to teach employees more about coffee.
Connecting with People
Laxman believes Starbucks is special because it brings people together. He said the world can feel lonely, and Starbucks has the power to create friendships and community. His goal is to make sure everyone—customers, employees, farmers, and shareholders—feels connected and cared for.
This meeting was just the start of Laxman’s journey as CEO. With big plans, a focus on people, and exciting changes, Starbucks is ready for an amazing future!