SHANGHAI, Feb. 5, 2020 /PRNewswire/ -- Yum China Holdings,
Inc. (the "Company" or "Yum China")
(NYSE: YUMC) today announced the launch of a family care program,
by establishing the "Restaurant Management Team (RMT) Family Care
Fund". The program is designed to provide additional health
protection for family members of restaurant management employees.
The new scheme will start in July
2020 and cover an estimated 86,000 parents, spouses and
children of more than 31,000 RMT employees.
On top of the existing commercial
insurance, RMT members will be entitled to additional coverage for
critical illness for their parents as well as additional accident
coverage for their children and spouse. The scheme also offers
express medical treatment for their parents in selected
hospitals.
"In 2018, Yum
China launched the Restaurant General Manager (RGM) Family
Care Program, which was greatly appreciated by our RGMs and their
families. Since then we have been exploring ways to offer a similar
program for RMT members who are sometimes required to take on the
extreme burden of caring for their families when faced with
unfortunate events. The establishment of this plan further
reinforces our commitment to being a supportive and caring
employer," said Joey Wat, CEO of
Yum China.
RMT members can participate in the scheme on a voluntary basis
with only a small contribution to the fund every year. The bulk of
the remaining cost will be borne by the Company. This scheme goes
beyond others in the market by increasing the age cap to 75 years
for employees' parents and 22 years for their children.
"The health and safety of our employees is our top priority,
particularly given the current challenging circumstances caused by
coronavirus. I am grateful to all of our employees who continue to
work diligently and heroically despite the current difficulties.
Yum China is committed to caring for
and protecting our employees and their families and showing our
sincere appreciation for their on-going sense of dedication and
responsibility," added Joey Wat.
"The launch of the RMT Family Care Fund aims to provide
restaurant management employees with the practical support that
they need," said Aiken Yuen, Chief People Officer of Yum China. "Over 90% of our RMT members were
born in the 80's or 90's. They are the future of Yum China and the society as a whole. We hope
that everyone will be proud of their career growth and professional
achievement as an employee of Yum
China that aspires to be the world's most innovative pioneer
in the restaurant industry."
The secret to Yum China's success
and leading position in the industry lies in the comprehensive
training and development programs and the competitive total reward
structure offered to the employees.
This latest employee care initiative comes soon after
Yum China was named a Top Employer
China by the Top Employers Institute for the second consecutive
year. These recent developments reinforce the Company's dedication
to providing exceptional working conditions through progressive
'People First' HR practices.
About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! Brands in
mainland China. It has exclusive rights in mainland China to KFC,
China's leading quick-service restaurant brand, Pizza Hut, the
leading casual dining restaurant brand in China, and Taco Bell, a California-based restaurant chain serving
innovative Mexican-inspired food. Yum
China also owns the Little Sheep, East Dawning and COFFii
& JOY concepts outright. The Company had more than 8,900
restaurants in over 1,300 cities at the end of September 2019. Yum
China ranked # 362 on the Fortune 500 list in 2019. In 2020,
Yum China was named to the Bloomberg
Gender-Equality Index and was certified as a Top Employer 2020 in
China by the Top Employers
Institute, both for the second consecutive year. For more
information, please visit http://ir.yumchina.com.
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SOURCE Yum China Holdings, Inc.