Let's dive into the different roles at Chipotle. Can you tell us how competitive Chipotle is compared to other employers, the benefits each position offers, and how attractive these positions are versus others? Also, could you discuss the training for each position, whether it's centralized or at the restaurant or regional level? Let's start with crew and hourly workers and work our way up.

Chipotle generally pays above market in most areas it operates. The goal has always been to be at the 75th percentile for all positions. The benefits are remarkable, including debt-free degrees for hourly employees, healthcare, dental, and vision. Chipotle remains a competitive employer for crew members. It's an incredible opportunity to start as a crew member and, within 24 months, become a general manager earning upwards of six figures. Few restaurant companies offer such opportunities for the hourly workforce. It was exciting for me to know I could impact and change someone's life. Starting as a field leader at $10 an hour, you could be making $120,000 within two years, with stock in the company and great benefits. However, Chipotle has lost some of its cachet in attracting hourly team members. Companies like Starbucks, known for their partnership with the University of Phoenix, are now copying Chipotle's formula for crew members. Despite this, compared to McDonald's, Wendy's, and other fast-food chains, Chipotle remains more attractive. The quality of hires has probably decreased over the past four years, with standards for hiring hourly employees retracting.

What was turnover like at the general manager level when you arrived, and what was it like when you left? What factors over time impacted that?

When I started, GM turnover was lower than 20%. It peaked at about 50% in 2016. From 2016 to 2018, it was high, but we got it back down to about 27% to 28% as I was leaving. In the last couple of years, we focused on reducing the administrative burden on general managers and implementing technology and automation. I believe that helped, along with soft skills development and programs like debt-free degrees, which drove down turnover.