Chipotle is preparing for its busiest time of year – March to May – by targeting 19,000 new hires throughout the next couple of months. To incentivize potential employees, the company has added several new benefits, including the addition of a student loan retirement match program.
As part of the program, facilitated through SoFi’s Student Loan Verification service, Chipotle matches up to 4% of an employee’s salary through contributions to their 401(k) plan if they make eligible student loan payments. The company said SoFi’s solution was launched in response to Congress’ approval of the Securing a Strong Retirement Act (Secure 2.0), allowing employees who qualify to be able to pay off their student debt and save for retirement simultaneously.
Additional benefits introduced today include access to Cred.ai, a Visa card that provides faster access to paychecks and a “credit optimizer” to help build credit scores automatically. Also, Chipotle’s partnership with SoFi provides employees with access to a work dashboard, providing financial literacy resources, an assessment of their current financial outlook, and tools to improve. Finally, Chipotle’s new employee assistance program, SupportLinc powered by CuraLinc Healthcare, offers six free sessions with a licensed counselor or mental health coach, as well as access to resources and community support for legal, financial, and family matters.