Chipotle Mexican Grill is gearing up for its busiest season of the year and is making a strategic move to attract Gen Z employees to its workforce. In preparation for the upcoming "burrito season" from March to May, Chipotle plans to hire a staggering 19,000 new full and part-time employees. This number is a significant increase from the 15,000 new hires they recruited during the previous burrito season.
As Chipotle aims for a long-term goal of operating 7,000 restaurants in North America, it has been aggressively expanding its workforce over the past couple of years. With over 3,300 stores already in operation as of September, the company is committed to providing exceptional service and maintaining its position as a leading fast-casual dining destination.
Recognizing that Gen Z accounts for more than 73% of its restaurant employees, Chipotle has introduced new employee benefits tailor-made for this generation. These benefits include an innovative retirement plan that assists employees in paying off their student loans while simultaneously saving for their future retirement. Furthermore, employees will have access to a debit card that not only helps them build credit but also offers financial education resources to equip them with valuable money management skills. Additionally, the company is providing mental health resources to support the well-being of its workforce.
According to Chipotle, Gen Z individuals born in the late 90s and early 2000s are facing financial challenges, including rapidly accumulating credit card debt and lacking confidence in managing their finances. By addressing these concerns through its employee benefits program, Chipotle aims to create an environment conducive to the personal and professional growth of its workforce.
Chipotle's commitment to investing in its labor force and understanding the unique needs of its employees sets the company apart and reaffirms its dedication to being a socially responsible employer. As "burrito season" approaches, Chipotle continues to be a dynamic force positioned to meet high customer demand while offering attractive opportunities for Gen Z employees seeking employment and growth in the fast-paced food industry.
Chipotle's Strategy to Attract and Retain Gen Z Employees
It comes as no surprise that Chipotle, the popular fast-casual restaurant chain, is actively seeking new ways to attract and retain Gen Z employees. This generation, ranging from middle schoolers to 27-year-olds, is set to surpass baby boomers in the workforce by early 2024, according to Glassdoor Economic Research. In fact, by 2025, Gen Z will constitute one-third of the global workforce, as estimated by the World Economic Forum.
However, retaining these young employees has proven to be a challenge for many companies. Unlike their older counterparts, Gen Z employees are more likely to switch jobs frequently and quit if their expectations aren't met. A report from ResumeLab in 2023 highlighted that while competitive salaries are important to Gen Z workers, they highly value additional benefits such as flexible work schedules, career development opportunities, healthcare packages, and work-life balance.
These efforts seem to be paying off as Piper Sandler's latest Taking Stock With Teens Survey consistently ranks Chipotle among the top five restaurant brands favored by Gen Z.
Only time will tell if Chipotle's popularity with Gen Z translates into a younger consumer base that also wants to work there.
