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Building & Sustaining a Culture of Trust The Starbucks Story Dave Pace EVP, Partner Resources Starbucks Coffee Company October 3, 2006
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Building and Sustaining a Culture of Trust October 3, 2006 2 Discussion Framework The Crisis of Trust The Starbucks Story The Evolving Role of HR Q&A / Discussion
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Building and Sustaining a Culture of Trust October 3, 20063 Overview Institutions are facing a crisis of trust –Business –Government –Sports –Religion
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Building and Sustaining a Culture of Trust October 3, 2006 4 Overview However, trust is at the foundation of exceptional performance –Risk-Taking –Accountability –Service –Creativity –Continuity
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Building and Sustaining a Culture of Trust October 3, 20065 The Challenge How can organizations build and leverage trust as a competitive advantage? What is the role of Human Resources in supporting this movement?
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Building and Sustaining a Culture of Trust October 3, 2006 6 The Starbucks Story Founded in 1971 / In current form since 1986 Fiscal year 2005 revenues - $6.4 billion (+20%) 36 countries 11,000+ stores / opening 5 per day Over 130,000 partners / Hiring more than 200 per day Stock has grown 6,500% since going public in 1992
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Building and Sustaining a Culture of Trust October 3, 20067 The Starbucks Story Our business is multi-faceted Retail – the Starbucks you know Manufacturing – 4 roasting plants around the world Consumer Products –Grocery –Ice Cream –Ready-to-Drink –Liqueurs Entertainment –Music –Film
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Building and Sustaining a Culture of Trust October 3, 2006 8 The Starbucks Story Our Work Environment –Fortune Most Admired Companies –Fortune 100 Best Places to Work –World Class engagement as measured by Hewitt & Gallup –Astonishing employee involvement in communications –Broad based support for our partners Healthcare Stock Options 401K Match Tuition Reimbursement ESPP Discounts Partner Connection Clubs CUP Fund
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Building and Sustaining a Culture of Trust October 3, 20069 The Starbucks Philosophy We don’t do these things for our partners because we are a successful company … We are a successful company because we do these things for our partners
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Building and Sustaining a Culture of Trust October 3, 2006 10 How do we bring it to life? Define what you stand for - Our Mission and Guiding Principles Communicate it broadly and often - Leadership Conferences Use it as a decision filter - What you don’t do is as powerful as what you do Allow your organization to hold you accountable - Mission Review Measure your progress - Partner View Surveys
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Building and Sustaining a Culture of Trust October 3, 200611 Making It Global Trust travels Values travel Defining a Best Place To Work Flex on the tactics, not on the values
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Building and Sustaining a Culture of Trust October 3, 2006 12 Fragility Trust is an easily violated relationship Actions must be consistent with words -Labor Hours -Apron Pockets -Facility Maintenance Recovery is not impossible, but it takes a long time
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Building and Sustaining a Culture of Trust October 3, 200613 The Evolving Role of Human Resources The function is overly fixated on being a “Strategic Partner” Many in the function stop there Must be equally balanced with “Employee Advocate” Once at the table, advocacy is more critical Focus on enabling, not controlling
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Building and Sustaining a Culture of Trust October 3, 2006 14 Summary Trust is possible, but it’s hard It requires you to be humble and stay humble The benefits are substantial
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