SHANGHAI, Nov. 25, 2021 /PRNewswire/ — Yum China Holdings, Inc. (the “Firm” or “Yum China”, NYSE: YUMC and HKEX: 9987) introduced at its 2021 Restaurant Basic Managers (“RGMs”) Conference, held just about, that it’s going to provide enhanced medical insurance coverage protection of as much as RMB 1 million to every of its roughly 10,000 RGMs. The Firm may also improve crucial sickness insurance coverage protection for members of the family of certified RGMs to RMB 200,000. As one of the crucial intensive worker advantages plans within the trade by way of variety of individuals lined, the newly upgraded advantages shall be carried out from January 2022 and can construct on present initiatives together with fairness incentives, household insurance coverage and housing subsidies.
The Firm can also be upgrading its “Household Care Fund” plan for the restaurant administration crew (RMT) and restaurant service crew leaders, growing crucial sickness insurance coverage protection below the plan to RMB 150,000, whereas providing entry to sure expedited medical companies for eligible workers and their members of the family. The newly upgraded advantages are anticipated to cowl greater than 60,000 RMT workers and their members of the family, in addition to 26,000 restaurant service crew leaders, serving to them mitigate the monetary dangers led to by crucial diseases.
“The Firm is extraordinarily grateful to our restaurant managers for his or her diligence and agility on the entrance strains of our eating places, notably whereas navigating the challenges of Covid-19. Because of their dedication, Yum China has been in a position to present prospects with uninterrupted entry to meals and glorious service whereas additionally supporting the neighborhood via attempting occasions,” stated Joey Wat, CEO of Yum China. “Worker satisfaction is the important thing to buyer satisfaction. Due to this fact, it’s the duty of our firm to create a working surroundings for workers guided by our precept of Honest, Care and Delight, in addition to taking steps to guard their households.”
Yum China has all the time adhered to a “people-first” philosophy, making certain that the well being and wellbeing of workers is the Firm’s prime precedence. Moreover, the Firm continues to extend funding in defending the well being of workers and their households. The upgraded medical insurance coverage bundle for RGMs covers a variety of delicate and extreme illnesses, offering higher help in opposition to the problem of excessive medical bills.
In 2018, Yum China launched the “Household Care Program” for RGMs. In 2020, the Firm launched the “Household Care Fund” for RMT workers, which entitles them to further protection for crucial sickness for his or her dad and mom in addition to further accident insurance coverage protection for his or her youngsters and spouses. This scheme goes past others available in the market by growing the age cap to 75 years for workers’ dad and mom and 22 years for his or her youngsters. In December 2020, the fund was prolonged to additionally present crucial sickness protection to restaurant service crew leaders.
The newly introduced advantages improve is the newest manifestation of Yum China’s long-standing dedication to its RGM No.1 company tradition. The Firm believes that RGMs are a very powerful leaders at Yum China and play a key function within the Firm’s long-term success. Yum China not solely supplies workers with aggressive salaries and advantages, but in addition ensures that workers share within the Firm’s success. After changing into an independently listed firm in 2016, Yum China introduced that it might award RSUs valued at US$2,000 to each certified RGM. Following its secondary itemizing in Hong Kong in 2020, the Firm awarded further RSUs valued at US$3,000 to eligible RGMs. So far, a complete of 14,000 RGMs have obtained RSUs.
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About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! Manufacturers in mainland China. It has unique rights in mainland China to KFC, China’s main quick-service restaurant model, Pizza Hut, the main informal eating restaurant model in China, and Taco Bell, a California-based restaurant chain serving revolutionary Mexican-inspired meals. Yum China additionally owns the Little Sheep, Huang Ji Huang, East Dawning and COFFii & JOY ideas outright. As well as, Yum China has partnered with Lavazza to discover and develop the Lavazza espresso store idea in China. The Firm had 11,415 eating places in over 1,600 cities on the finish of September 2021. Yum China ranked # 363 on the Fortune 500 checklist and was named to TIME100 Most Influential Corporations checklist in 2021. Yum China has been chosen as member of each Dow Jones Sustainability Indices (DJSI): World Index and Rising Market Index. In 2021, Yum China was named to the Bloomberg Gender-Equality Index and was licensed as a High Employer 2021 in China by the High Employers Institute, each for the third consecutive yr. For extra data, please go to http://ir.yumchina.com.
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SOURCE Yum China Holdings Inc.