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Starbucks on Wednesday unveiled plans to increase diversity within its ranks by tying executive pay to inclusion initiatives starting next year.
The company did not specify exactly how executive pay will be affected, but it set goals to raise the number of BIPOC, or Black, Indigenous and People of Color, employees across the board. At the corporate level, Starbucks is aiming for 30% BIPOC employees by 2025. In retail and manufacturing, the goal is 40% BIPOC employees within that timeframe.
Currently, BIPOC employees make up 18.5% of employees at the level of senior vice president or above.
In additional to linking executive pay to its diversity and inclusion efforts, Starbucksis launching a mentorship program connecting employees of color with senior leadership and including anti-bias materials into hiring, development and performance assessment processes, among other things.
A Starbucks employee wears a face shield and mask as she makes a coffee in Ronald Reagan Washington National Airport in Arlington, Virginia.
The announcement also follows a slew of corporate commitments to increase diversity, which came after waves of Black Lives Matter protests earlier this year.
Adidas plans to fill a minimum of 30% of new positions with Black or Latinx people. Microsoft
(MSFT) announced a $150 million diversity and inclusion investment and a plan to double the number of Black managers and senior leaders by 2025. Wells Fargo
(WFC) intends to double Black leadership in the next five years and will evaluate senior leaders based on their progress in improving diversity and inclusion in their areas of responsibility.
