Business
Chipotle will give workers an extra month for pay
The offer is part of a new hourly bonus program at its restaurants, such as Chipotle ( CMG ) announced Tuesday.
The program puts "Chipotle" ahead of the industry to attract and retain top talent to ensure that the crew is so passionate about their work experience that guests are talking about food, "the company said in a release.
To be eligible, employees must meet certain criteria, and their stores must meet sales and cash flow goals. If the quotas are met, Chipotle will pay employees a bonus every quarter which corresponds to one week's salary.
On average, Chipotle will pay the weekly salary that hourly wages make over the quarter to determine the bonus.
The new program is an extension of the chain's existing employee rewards, including free food, study allowance and medical insurance.
"At Chipotle, we're not just competing for the industry's best, we want to keep the industry's best," Marissa Andrada, the company's chief executive, said in the press release.
Chipotle is not alone. Businesses struggle to hire people as the labor market tightens and unemployment remains low. Unemployment fell to 3.6% in April, the lowest level since December 1[ads1]969. The price held on that figure last month.
Shake Shack ( SHAK ) CEO Randy Garutti recently told CNN Business & # 39; Christine Romans that "the fight for talent is hard." The company is experimenting with a four-day work week.
McDonald's ( MCD ) announced in April that it cooperates with AARP, an ideal interest group for aging Americans, to help attract workers who are 50 years or older.
And Taco Bell hosts "recruitment parties" with free food, swag and Instagram-friendly photo studios hoping to lure new employees. The chain, owned by Yum Brands ( YUM ) wants to create 100,000 new US jobs by 2022.
