Starbucks spearheaded a partnership with other executives from some of the nation's biggest firms. CEO Howard Schultz guaranteed that the coalition will employ 100,000 young Americans who are out of jobs and out of school.
Some of the companies who pledged their support were Alaska Airlines, Cintas, Lyft, Macy's, CVS Health, Hilton Worldwide, Microsoft, Porch.com, HMSHost, JCPenney, Taco Bell, Target, Potbelly Sandwich Shop, Walgreens, JPMorgan Chase and Walmart. They are encouraging more companies to join the move.
According to USA Today, the 100,000 Opportunities Initiative, launched Monday, targets to help approximately 5.5 million Americans, from ages 16 to 24, who have no jobs and are not in school. This group is referred to as the "disconnected youth" by economists and demographers.
These top honchos from the 16 companies will review to hire these youngsters for various positions, such as internships, apprenticeships, and part-time or even full time work. Schultz, already initiated the move by pledging to take in 10,000 "disconnected youth" towards the end of 2018.
Schulz remarked, "What we've learned over these last many years is that rules of philanthropy, the rules of engagement have radically changed. You really have to build a coalition of like-minded organizations and people who have the kind of experience and skill base and local knowledge to tackle a problem as complex as this."
In a report by The Christian Monitor, Schulz and his wife Sheri authored an editorial for the New York Times where they wrote: "We approach this problem through the lens of our own experiences. Howard grew up in public housing in Brooklyn, where he watched his father struggle to support his family. Sheri grew up in a middle-class family in Lima, Ohio, where her father helped those who were less fortunate."
Furthermore in that same op-ed the couple wrote, "This is not charity. It solves a real business problem: According to one study, one-third of employers surveyed have trouble filling open positions because of talent shortages, and 43 percent say those shortages hurt their business."
The problem after U.S. recession is that it caused a huge strain on the subconscious of Americans with low income.
"There were always people who never made the American Dream, but what is happening now is the American Dream is getting more difficult to fathom for young people at the bottom layers of socioeconomic status," stated Martin Drell, head of psychiatry department for adolescent, child and infant at LSU Health Sciences Center in New Orleans.
In other news, Franchise Herald revealed that Spotify plans to strike a branding deal and subscription service with Starbucks that accommodates playlists that are free to several areas. At the same time, this is to encourage people to sign up for the streaming application.
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