Yum China will offer enhanced medical insurance coverage of up to RMB 1 million to each of its approximately 10,000 restaurant general managers. The upgraded benefits will begin January 2022 and builds on existing initiatives including equity incentives, family insurance and housing subsidies, according to a press release.
The announcement was made at the company's virtual 2021 Restaurant General Managers Convention.
The company is also upgrading its "Family Care Fund" plan for the restaurant management team and restaurant service team leaders, increasing critical illness insurance coverage under the plan to RMB 150,000, while offering access to certain expedited medical services for eligible employees and their family members. The benefits are expected to cover more than 60,000 RMT employees and family members, as well as 26,000 restaurant service team leaders.
"The company is extremely grateful to our restaurant managers for their diligence and agility on the front lines of our restaurants, particularly while navigating the challenges of Covid-19. Thanks to their dedication, Yum China has been able to provide customers with uninterrupted access to meals and excellent service while also supporting the community through trying times," Joey Wat, CEO of Yum China, said in the release. "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 Fair, Care and Pride, as well as taking steps to protect their families."
The moves are part of Yum China's "people first" philosophy. In 2018, Yum China launched the Family Care Program for restaurant general managers. In 2020, the company launched the Family Care Fund for employees, which entitles them to additional coverage for critical illness for their parents as well as additional accident insurance coverage for their children and spouses. This move goes beyond others in the market by increasing the age cap to 75 years for employees' parents and 22 years for their children. In December 2020, the fund was extended to also provide critical illness coverage to restaurant service team leaders.
Copyright © 2021 Networld Media. All rights reserved., source Industry News