Restaurant chain Chipotle Mexican Grill has introduced enhanced financial and mental wellbeing benefits for more than 110,000 employees.
These include a SupportLinc employee assistance programme, supplied by by CuraLinc Healthcare, which includes six free sessions with a licensed counsellor or mental health coach, as well as access to tools, resources and community support for legal, financial and family matters.
Chipotle has also introduced a student loan verification scheme, in conjunction with personal finance firm SoFi’s. Through this, it will match up to 4% of an employee’s salary through contributions to their 401(k) pension plan if they make student loan repayments. Launched in response to the US Congress’ approval of the Securing a Strong Retirement Act (SECURE 2.0), employees who qualify no longer have to choose between paying off student debt or saving for retirement.
Chipotle employees will also have access to a Visa card from Cred.ai that offers security features, faster access to pay and a credit optimiser that helps build and boost their credit scores automatically.
In addition, employees will be able to use financial wellbeing education platform SoFi at Work Dashboard, which includes a current financial outlook assessment and improvement suggestions and tools.
These new benefits are aimed at supporting challenges faced by the 73% of Chipotle’s restaurant employees who are from generation Z, born in the mid to late 1990’s.
Ilene Eskenazi, chief human resources officer at Chipotle, said: “Empowering our talent is embedded in our culture. 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.”
Chipotle’s employee benefits include an bonus programme that allows staff to earn up to an extra month’s worth of pay each year, access to mental health care and medical, dental and vision insurance, tuition reimbursement and debt-free degrees, paid holiday and sick leave, flexible schedules and free meals.