Shake Shack Investing More Than $10M in Restaurant Teams
Our mission at Shake Shack is to Stand for Something Good ®. This mission extends into every aspect of our business, from taking care of our teams and sourcing premium ingredients from like-minded suppliers to thoughtfully and responsibly designing our Shacks and supporting the communities in which we operate.
We are committed to doing the right thing for our teams, guests and communities during the good times and especially the tough times, and the tough times brought on by the COVID-19 pandemic have shown us the resilience of our people. Our restaurant teams have worked tirelessly to provide great food and an elevated guest experience to all who pass through our doors or order through our Shackapp. That’s why today we’re proud to announce that we are investing more than $10 million in our restaurant teams over the next 12 months.
We are making one of the biggest team member commitments we’ve made in our history this year. Spanning wage increases, sign-on and retention bonuses, and leadership development programs, this investment is a commitment to attracting and retaining the best restaurant talent, ensuring current and future employees are well-paid, cared for and have a path to promotion and opportunity for sustainable career growth within Shake Shack and the industry at large.
More than $9M in Increased Wages
Shake Shack is committed to ongoing review of Shack-level hourly wages. Following raises at over half of our Shacks last year, hourly wages were again increased in more than two thirds of all Shacks in 2021.
Nearly $1M in Hiring Bonuses
We are offering a $1,000 hiring bonus for managers and extending hiring bonuses of $500 for hourly team members hired between June 10 – August 31 in many locations nationwide. We are also offering a monthly subscription allowance for up to a year for managers to use towards cell phone bills, subscription entertainment or other services that enrich their mental, physical, or emotional wellbeing.
Equity Grants for General Managers
Shake Shack continues to offer General Managers and above equity based compensation. With this, top performing GMs have the ability to make more than $115,000 in total compensation. Additionally, most salaried, exempt managers are rewarded with a starting salary ranging from $50,000 to $65,000, depending on location and experience, with eligibility to receive performance based bonuses that are paid monthly and quarterly.
Investing in Leadership Development
In an effort to continually promote and grow from within, we created the Shacksperience Steppin Up Model to clearly define and train for the operational skills and proficiencies needed for each role and level of management within our Shacks. We also host an annual Leadership Retreat where all salaried team members join together for multi-day programming of leadership development classes, notable guest speakers and strategic planning sessions with the entire Executive Team, including our CEO Randy Garutti.
As part of our commitment to growing leaders, Shake Shack is rolling out two additional sessions of our Shift Up program this year. Shift Up is a unique career development program for entry-level managers to learn professional and business communications, financial acumen and leadership skills to improve their promotability into salaried roles. The program is in partnership with Food Education Fund, a culinary education nonprofit.
This Comes on the Back of a Nearly $6M Investment in 2020
In 2020, as a thank you to team members for what was one the hardest years in the hospitality industry, we paid our team nearly $6 million in additional pay, including a $250-$400 holiday bonus for all hourly team members. Earlier in the pandemic, we instituted 10% premium pay as a thank you to team members on the front lines starting from the end of April 2020 and remaining throughout the summer.
We employ more than 9,000 people in the U.S. and we’re always looking for great people to join our team. Check out the Careers page and start your journey to become part of the Shack team today!
* This post contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”), which are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different from the statements made herein.