Popular food chain Chipotle has developed a way to reduce turnover and retain talent by offering to pay for employees to get technology and business degrees. The new incentive will start on November 15.
Employees can choose degree programs at five different schools chosen by Chipotle including, Southern New Hampshire University, Brandman University, University of Arizona, Wilmington University and Bellevue University.
In order to qualify, the employee has to be at the company for at least four months and work at least 15 hours each week. Once the employee is in the program, they must stay at Chipotle for a minimum of six months.
The incentive comes at a great time when on average students graduate with $29,800 in debt. According to Student Loan Hero, about 45 million American borrowers owe over $1.56 trillion in student loan debt.
“For young people to have the ability to afford an education, what a great way to attract new talent,” Chipotle Chief People Officer Marissa Andrada said.
