NFAPost, Bengaluru: Tata Starbucks Private Limited, which is celebrating seventh anniversary in India, announced has achieved 100% pay equity for women and men.
The Pay Equity means employers are paying female jobs at least the same level as male jobs if they are of comparable value. It also covers also jobs usually done by women with jobs usually done by men.
Tata Starbucks finds the achievement as a landmark accomplishment that demonstrates the company’s commitment to gender equality globally.
According to a company statement, Starbucks pay equity principles are based on equal footing, transparency, and accountability. “Tata Starbucks continues to create opportunities for female partners through an ongoing series of initiatives focused on an inclusive and diverse workforce to drive business growth,” states the company.
Tata Starbucks Partner Resources Head Naveen Kumar Nerlaje said the current achievement is the result of years of work and commitment.
“We believe it is important, as a company of our scale, to help bring more attention to this critical issue for women in India. Starbucks has consistently led our industry on issues like pay equity, but there is still even more we can do ensure women in India excel in the workplace. To achieve 40 percent gender diversity by 2022, we are focused on achieving equal representation at the hiring stage by ensuring a balanced slate of candidates,” said Naveen Kumar Nerlaje.
The achievement is also part of the company’s initiatives which helped it to take total women forkforce to 29%. This is Tata Starbucks gender diversity initiative to achieve 40% gender diversity by 2022.
The company also claims that it continues to promote opportunity for women within the company, boosting the share of female partners (employees) from 14 percent in FY14 to 29 percent in FY19, a figure that continues to grow.
Tata Starbucks is recently recognised as one of the top 100 Best Companies to Work and top 75 Best Workplaces for Women in India by the Great Place to Work Institute in 2019, and one of the 100 Best Companies for Women in India by Working
Since entering the market in 2012 as 50/50 joint venture between Starbucks Coffee Company and Tata Global Beverages Limited, Tata Starbucks has expanded to operate 167 stores and employs more than 2,000 partners across India. As Tata Starbucks continues to grow, so does its commitment to be a positive force in contributing to the future success of Indians.
In the fourth quarter of fiscal 2019, Starbucks opened 630 net new stores in Q4, yielding 31,256 stores at the end of the quarter, a 7% increase over the prior year. The consolidated net revenues of $6.7 billion grew 7% over the prior year.
Starbjcks President and CEO Kevin Johnson said he is very pleased with strong finish to fiscal 2019, as it sustained positive momentum across each of our business segments.
“Our US business delivered 6% comparable store sales growth in the fourth quarter, while China grew comparable store sales by 5% and total transactions by 13%. Our strong performance throughout fiscal 2019 gives us confidence in a robust operating outlook for fiscal 2020,” said Kevin Johnson.
The company realigned its operating segment reporting structure to better reflect the cumulative effect of its streamlining efforts. Specifically, the previous China/Asia Pacific (“CAP”) segment and Europe, Middle East, and Africa (“EMEA”) segment have been combined into one International segment.