Starbucks UK offering home loans to employees
Starbucks UK is introducing a new employee benefit to keep its staff happy.
The coffee chain is introducing a new loan initiative to help employees settle down.
The Home Sweet Loan programme was developed by the charity Shelter as a Tenancy Deposit Loan Scheme.
The concept behind the loan means that Starbucks will give their employees the chance to apply for an interest free loan, equivalent to one month's wages, to help pay a deposit.
The coffee company announced that it would be introducing the National Living Wage for its staff too. The wage changes will be extended to all staff, regardless of age.
Employees have to have worked at Starbucks for at least one year before they can apply to the program and the loans will be repaid over one year as well.
The program has been introduced in an effort to combat the cost of living in the UK, especially given that 4,500 members of Starbucks staff are under the age of 25.
Starbucks in the US also have initiatives in place to keep their staff happy, there are tuition reimbursement and adoption assistance programs.
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