Yum China has established the Yum China Employee Mutual Aid Fund to offer financial assistance to employees in need, according to a press release.
The RMB 10 million ($1,434,288) fund will provide financial support to employees in need after emergencies, critical illness or financial difficulties.
“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,” Joey Wat, CEO of Yum China, said in the press release. “As the largest restaurant company in China, we are committed to supporting employees in need.”
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 $143,404 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,” Aiken Yuen, chief people officer of Yum China, sad in the release. “We are committed to our People-First philosophy and maintaining a working environment based on the principles of ‘Fair, Care and Pride.'”