The Company is also improving its “Family Care Fund” plan for the Restaurant Management Team (RMT) and Food Service Team Leaders, increasing critical illness insurance coverage under the plan. for 150,000 RMB, while providing access to certain expedited medical services to eligible employees and their families. The newly enhanced benefits are expected to cover more than 60,000 RMT employees and their families, as well as 26,000 food service team leaders, helping them mitigate the financial risks of critical illness.
“The Company is extremely grateful to our Restaurant Managers for their diligence and agility on the front lines of our restaurants, especially while facing the challenges of Covid-19. Through their dedication, Yum China has been able to provide customers with uninterrupted access to meals and excellent service while supporting the community in difficult times, ”said Joey vat, CEO of Yum China. “Employee satisfaction is the key to customer satisfaction. Therefore, it is the responsibility of our company to create a working environment for employees guided by our principle of fairness, care and pride, as well as to take steps to protect their families. “
Yum China has always adhered to a “people first” philosophy, ensuring that the health and well-being of employees is the company’s top priority. In addition, the Company continues to increase its investments in protecting the health of employees and their families. The enhanced medical insurance package for RGMs covers a wide range of mild and severe illnesses, providing better support in the face of the challenge of high medical expenses.
In 2018, Yum China launched the “Family Care Program” for RGMs. In 2020, the Company launched the “Family Care Fund” for RMT employees, which entitles them to additional critical illness coverage for their parents as well as additional accident insurance coverage for their children and spouses. This system goes beyond the others on the market by increasing the age limit to 75 years for parents of employees and 22 years for their children. In december 2020, the fund has been expanded to also provide critical illness coverage for food service team leaders.
The recently announced Benefits Upgrade is the latest manifestation of Yum China’s long-standing commitment to its RGM No.1 corporate culture. The company believes that RGMs are the most important leaders of Yum China and play a key role in the long term success of the company. Yum China not only provides employees with competitive salaries and benefits, but also ensures that employees share in the success of the company. After becoming an independent listed company in 2016, Yum China announced that it would award RSUs worth US $ 2,000 to each qualified RGM. Following its secondary listing in Hong Kong in 2020, the Company awarded additional assessed RSUs to US $ 3,000 to eligible RGMs. To date, a total of 14,000 RGMs have received RSUs.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend that all forward-looking statements will be covered by the provisions. of the safe harbor of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by not relating strictly to historical or current facts and by the use of forward-looking words such as ” expect ”,“ expect ”,“ believe ”,“ anticipate ”,“ may ”,“ could ”,“ intend ”,“ believe ”,“ aim ”,“ plan ”,“ estimate ”,“ target ” “,” predict “,” plan “,” probably, “” will “,” continue “,” should “,” foresee “,” prospect “,” be looking forward to “or similar terminology. These statements are based on current estimates and assumptions that we have made in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties which are difficult to predict and could cause our actual results or events to differ materially from those indicated by such statements. We cannot assure you that our expectations, estimates or assumptions will be realized. The forward-looking statements included in this press release are made only as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances, except as required by law. ‘required. All forward-looking statements should be evaluated taking into account their inherent uncertainty. You should refer to our documents filed with the Securities and Exchange Commission (including the information set out under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our annual report on Form 10-K and Subsequent Quarterly Reports on Form 10-Q) for more details on factors that could affect our financial and other results.
About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! Brands in metropolitan France China. It has exclusive rights on the continent China at KFC, from China the leading fast food brand, Pizza Hut, the leading casual dining brand in China, and Taco Bell, a Californiachain of restaurants serving innovative Mexican-inspired cuisine. Yum China also owns the Little Sheep, Huang Ji Huang, East Dawning and COFFii & JOY pure and simple concepts. Additionally, Yum China has partnered with Lavazza to explore and develop the Lavazza coffee concept by China. The Company had 11,415 restaurants in more than 1,600 cities at the end of September 2021. Yum China ranked 363 on the Fortune 500 list and was named to the TIME100 list of most influential companies in 2021. Yum China was selected as a member of the two Dow Jones Sustainability Indices (DJSI): Global Index and emerging markets index. In 2021, Yum China was named to the Bloomberg Gender-Equality Index and was certified Top Employer 2021 in China by the Top Employers Institute, both for the third consecutive year. For more information, please visit http://ir.yumchina.com.
SOURCE Yum China Holdings Inc.