NEWPORT BEACH, Calif. — Chipotle Mexican Grill will be providing additional financial wellness and mental well-being support for more than 110,000 employees through a new Employee Assistance Program and enhanced benefits. The company will hire additional employees over the next couple of months to prepare for its busiest period of the year from March to May.
Chipotle’s new benefits will enable eligible employees to:
- Pay off student debt while saving for retirement: using SoFi’s Student Loan Verification (SLV) Service, once an employee becomes eligible for Chipotle’s 401(k) plan match, the company will match up to four per cent of an employee’s salary through contributions to their 401(k) if they make eligible student-loan payments. The benefit solution, launched in response to Congress’ approval of the Securing a Strong Retirement Act (SECURE 2.0), allows employees who qualify to no longer have to choose between paying off student debt or saving for retirement.
- Build credit through high-tech banking: Employees will have access to a premium banking experience from Cred.ai featuring a high-tech Visa card that offers security features, faster access to paychecks and Cred.ai’s Credit Optimizer, which helps build and boost credit scores automatically, even for employees who already have good credit.
- Manage financial wellness: Chipotle’s partnership with SoFi will also give employees access to the SoFi at Work Dashboard, a leading financial well-being education platform, which includes an assessment of current financial outlook, followed by suggestions and tools to improve.
- Access mental-health resources: The company’s New Employee Assistance Program, SupportLinc, powered by CuraLinc Healthcare, focuses on mental and emotional well-being. It includes six free sessions with a licensed counselor or mental-health coach, as well as access to tools, resources and community support for legal, financial and family matters.
More than 73 per cent of Chipotle’s restaurant employees are Gen Z, and these new benefits cater to the challenges they’re facing.
“Empowering our talent is embedded in our company’s culture,” says Ilene Eskenazi, Chief Human Resources Officer, Chipotle. “As we push toward our long-term goal of operating 7,000 restaurants in North America, it’s crucial that we listen to and adapt to the needs of our team members, so they can grow with us.”
Additionally, crew members can advance to a restaurateur in as little as three-and-a-half years, with a total potential compensation package of approximately $100,000. Nearly 90 per cent of current restaurant leadership started as crew members and progressed to management positions. In 2023, Chipotle promoted more than 26,000 employees.
“We have many examples of crew members rising through the ranks and now holding restaurant leadership roles, which are among the proudest accomplishments of this organization,” says Scott Boatwright, Chief Operating Officer, Chipotle. “With 2024’s burrito season approaching, there are more career opportunities than ever at Chipotle.”
