People over profits

"Companies should not have a singular view of profitability. There needs to be a balance between commerce and social responsibility... The companies that are authentic about it will wind up as the companies that make more money." — Howard Schultz, Starbucks CEO

Starbucks has long been a company that's been about more than the bottom line. They preach concern for customers, creating an atmosphere, and giving back. The company's CEO, Howard Schultz, has talked about the greater responsibility for corporations — a responsibility to give back to society.

On Monday, he backed those words up with action. Starbucks announced that it would offer college tuition to its employees. Further, it noted that employees won't be compelled or expected to stay with the company once their degree is finished. It's a remarkable and fascinating move, one that has drawn praise and skepticism. Such, I guess, is the nature of our modern society.

Of course, this isn't an open-ended fantasy. Employees have one program to choose from — the online program for Arizona State University. And they don't get unlimited funds — freshmen and sophomores get up to $6,500, while juniors and seniors get up to $30,000. Still, it's an incredible offer and a way that an employer can help make their workers — and our country — a more educated and better place.

College is expensive, and it's getting more expensive. While the gulf between income and debts increases, and the middle class erodes, many students graduate from college with a mountain of debt and slim job prospects. A college education is important — in fact it's becoming a prerequisite to many jobs — but it's hard to afford.

The government has tried to help with this. In fact, last week the government tried to get some relief for college debt through Congress, to no avail. That's what makes this move by Starbucks so timely and admirable.

In a time when chains are being laid out as the bad guy because of lower pay and employee conditions, it's nice to see a company that thinks differently. I hope it's something we see more of going forward.