According to OC&C, the turnover rate reached 75% in 2023 in the foodservice and leisure sectors, and 69% in supermarkets. This is the reason why, on June 6 in the United States, shareholders of the Chipotle restaurant chain (3,400 U.S. outlets and 120,000 staff ) will be offered a 50:1 stock split at the Annual General Meeting. The operation is relatively rare on the New York Stock Exchange. Although staff turnover has fallen, it was still 33% among the company’s managers in 2023, and 18% among regional vice-presidents. In 2020, these rates were 44% and 19% respectively. By dividing the price of a Chipotle share by 50, which currently stands at around US$3,000, the group aims to make it more affordable for staff to acquire shares, so that they feel they “own” the company.
Faced with a 183% turnover, Chipotle pays off its employees’ loans
Distribution of free shares, financing of student loans, assistance with pension payments... In a sector where turnover exceeds 75% in the U.S.A., fast-food retailer Chipotle is redoubling efforts to retain loyal staff.
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