Career Development and Employee Motivation Initiatives at Chipotle
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Introduction
Even as fast food chains like Mc Donald’s Corporation (Mc Donald’s) and Burger King Corporation were feeling the heat in 2014 amid rising food prices, intense competition, and changing perceptions about food, US-based fast food chain Chipotle Mexican Grill, Inc. (Chipotle) bucked the trend, recording rising revenues and earnings.
For the third quarter ended September 30, 2014, its revenue increased by 31.1% to US$1.08 billion while its net income was US$130.8 million, an increase of 56.9% over the corresponding period of the previous year. Though the company had raised the prices of the items on its menu, the customer footfalls continued to increase.
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Attributing the chain’s success to its special food culture, innovative people culture, and strong business model, Steve Ells (Steve), founder, chairman and co-CEO of Chipotle, said, “Our relentless focus on our vision to change the way people think about and eat fast food results in better quality food and a compelling dining experience for our customers, and superior business results for our shareholders. The way we source, prepare, and serve our food; the way we hire, develop, and empower our people; and the way we operate our business is very different than the traditional fast food model.”
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