SHANGHAI, China – Yum China Holdings, Inc. announced that the Company has established the Yum China Employee Mutual Aid Fund (the “Mutual Aid Fund”) to offer financial assistance to employees in need. Fully financed by the Company, the RMB 10 million fund will provide monetary support to employees in the event of emergencies, critical illness and financial difficulties. The Mutual Aid Fund adds to the Company’s well recognized employee care program.
“COVID conditions these past three years have brought increasing uncertainties to all of our lives. We are delighted to be able to deepen our employee care program with the Mutual Aid Fund addressing employees experiencing critical needs,” said Joey Wat, CEO of Yum China. “As the largest restaurant company in China, we are committed to supporting employees in need.”
Yum China has always placed the safety, health and wellbeing of its employees as its highest priority. Since the initial COVID-19 outbreak, Yum China has continually increased employee benefits, including financial support to employees diagnosed with critical illness.
In 2020, the Company launched the “Family Care Fund” for Restaurant Management Team employees. Among other provisions, the Family Care Fund provides assistance to employees with parents experiencing critical illness as well as additional accident insurance coverage for employees’ children and spouses. Furthermore, in 2021 Yum China announced enhanced medical insurance coverage of up to RMB 1 million to each of its over 10,000 eligible Restaurant General Managers.
“Our 400,000 employees are the Company’s most valuable asset. The resilience, agility and innovative actions of employees have enabled the Company to navigate the challenges brought by COVID-19, adapt and grow into a stronger organization,” said Aiken Yuen, Chief People Officer of Yum China. “We are committed to our People-First philosophy and maintaining a working environment based on the principles of “Fair, Care and Pride.”
Yum China has been recognized by leading institutions for its outstanding people strategies and practices, especially for extensive employee care programs. It recently received “The 2022 China Best ESG Employers Award” from Aon plc, a leading global professional services firm, and the “Top 100 Employer Excellence of China” award from 51job.com, a leading human resource solutions provider in China, for “Excellence in ESG Impact.”
Learn more about Yum China’s People related efforts in the Company’s latest Sustainability Report here.
