Chipotle announced Monday they will try to hire 4,000 new employees in just one day.
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Management teams at all of Chipotle’s U.S. restaurants will hold interviews for as many as 60 applicants. The Wall Street Journal points out there’s a shortage of workers applying at restaurants like Chipotle, Starbucks, and McDonald’s, so these companies have started bidding wars to get the best people.
September 9th will mark the company’s first ever national career day.
Wedbush inflated its 2015 earnings estimate for the fast casual restaurant to $17.42 per share from $17.34 per share based on higher-comparable sales growth in the third fiscal quarter of this year (3QFY15). It has expanded college-tuition reimbursement to all hourly workers, added paid sick days and increased the amount of paid vacation it offers.
Chipotle operates 14 Charlotte-area restaurants, according to its website.
It’s unclear what positions Chipotle will fill with the 4,000 new hires. Starting employees at Chipotle averaged a few cents over $10 per hour.
The jobs blitz is another clear sign that restaurant chains are seeking to attract and retain talent, as an improving economy and rising minimum wages in many cities have squeezed the market for these traditionally lower-paying, advancement-less jobs.
The one potential wrinkle in Chipotle’s plan is the current uncertain market environment.
Chipotle communications director, Chris Arnold, says the restaurant hasn’t established any local hiring goals though.
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Hartung said that Chipotle hasn’t raised steak and barbacoa costs within the roughly 40% of eating places which might be nonetheless awaiting carnitas replenishment. This “Nationwide Profession Day” could be seen as shiny PR, however Chipotle’s logic on investing in succesful staff all the time appears to be borne out in its monetary outcomes. “With that and with the normal pace of turnover, there’s always work to be done and there are always opportunities for people”.
