Yum China, a catering giant with KFC, Pizza Hut and other brands, has given employees “big red envelopes”.
Yesterday, yum China announced at the 2021 “cloud annual meeting” of restaurant managers that the company would purchase millions of medical insurance for nearly 10000 restaurant managers and increase the amount of serious illness insurance for their families to 200000.
It is reported that this is another important measure for Yum China to improve employee welfare after equity incentive, family insurance and housing subsidy. “The company has always adhered to the culture of ‘restaurant manager first’ and provided all-round welfare protection for employees around ‘personal health, family health, social health and financial health’. This upgrade is also one of the welfare projects with the largest number of people in the industry,” he said in the notice
Qu Cuirong, CEO of Yum China, also said that the company’s primary task is to “protect every partner and their family with Yum’s eaves” and “only when employees are satisfied can we serve customers well and customers are satisfied”.
It is reported that in addition to the welfare upgrade, yum China has also prepared a Thanksgiving red envelope worth 6.66 million, which recognizes and encourages restaurant managers to make efforts and efforts to deal with the epidemic.
Qu Cuirong, CEO of Yum China, recognized and encouraged employees
Next, let’s have a look.
Benefiting nearly 100000 employees
Yum China has always regarded RGM No.1 (restaurant manager first) as the core culture.
In the daily operation of the store, as the “backbone”, the restaurant manager plays an indispensable role in promoting growth and improving customer satisfaction. It is reported that Yum’s annual meeting of Chinese restaurant managers is an annual event specially created for restaurant managers. Its large scale, large number of employees and rich content make it worthy of becoming the heaviest activity of the company.
Due to the epidemic situation, this heavy event will be held online this year. At the meeting, Qu Cuirong first reviewed the unremitting efforts of Yum’s front-line employees since the outbreak of the epidemic, and summarized the themes of the annual meeting as three aspects: resilience, growth and moat moat (RGM), which is inconsistent with the abbreviation of Restaurant General Manager.
Subsequently, Qu Cuirong announced a massive welfare upgrade. The company expressed the hope to “protect every partner and their family with Yum’s eaves”.
Interaction between Yum China CEO and brand general manager and employees
First, the company will buy one million medical insurance for nearly 10000 restaurant managers and increase the amount of serious illness insurance for their families to 200000. It is understood that the one million medical insurance is specially customized for Yum Chinese restaurant managers, covering the medical expenses of 50 mild diseases, 103 serious diseases and proton heavy ion therapy, with an insurance amount of up to 1 million yuan to resist the risks caused by serious diseases and high medical expenses.
Secondly, yum China will upgrade the “love mutual fund plan” for the leaders of the restaurant management team and service team. The specific upgrading contents include increasing the amount of serious illness guarantee for employees and families to 150000 yuan, increasing the green channel for medical treatment for employees and their families, etc. The welfare upgrade is expected to benefit nearly 60000 employees of the restaurant management team and their parents, spouses and children, as well as 26000 service team leaders. This improvement can further help employees resist financial risks caused by serious diseases.
Yum China said that the upgraded welfare will be officially implemented from January 2022.
“The company is particularly grateful to the restaurant manager for leading the partners to stick to the front line of the restaurant and actively respond to the changes and challenges brought by the epidemic. Because of their efforts, yum can continue to provide customers with uninterrupted food security and considerate services, and do not forget to provide public welfare and care for medical workers and the community. We know that only employees are satisfied can serve customers and customers well Therefore, it is the unshirkable responsibility of the company to create a “fair, caring and proud” working environment for partners and escort their families, “Qu Cuirong said.
As a foreign-funded enterprise rooted in China for 34 years, yum China has also embedded the importance of home in Chinese traditional culture into the corporate culture. It not only emphasizes the “watch and help” among employees, but also focuses on improving the family security of front-line employees in all aspects to reduce future worries for employees.
The snack generation noted that the partner welfare program in Yum’s Chinese restaurant“ CARE@YUMC “In addition to the” family photo “plan to protect the health of families, there are also the” Yum Young League “focusing on children’s education, the” house purchase subsidy “focusing on the settlement of young people, the” family day “and” Psychological Care Hotline “focusing on family relations and physical and mental health “Personal health, family health, social health and financial health” provide all-round welfare protection for employees.
Yum China provides all-round welfare protection for employees
Xiaoshidai learned that, as one of the first catering companies to provide comprehensive welfare protection for front-line employees, yum China took the lead in launching and continuously upgrading the “family welfare health care plan” for restaurant managers in 2018. In 2020, the company established the “love mutual aid fund plan” through an innovative model In addition, the original commercial insurance for the employees of the management team has been further supplemented and upgraded, and the protection for major diseases of employees’ parents and accidents of children and spouses has been increased. In particular, a green channel for serious diseases has been customized for parents.
It is worth noting that Yum China not only provides employees with competitive salary and high-quality benefits, but also shares success with employees. After two listings, yum China announced that it would grant restricted shares to qualified restaurant managers, so that restaurant managers could reap the long-term returns brought by their common growth with the company.
These measures have also won the recognition of employees, promoted their front-line employees to actively innovate and constantly practice the spirit of “benevolence and integrity” of Yum China. It is reported that KFC restaurant overcame all difficulties and delivered meals to the people affected by the rainstorm in Zhengzhou. Pizza hut also opened the door of the restaurant to accept customers stranded by the rainstorm.
With the efforts of all staff, yum China has shown a tough business model in the epidemic, and the expansion of stores has been accelerating.
According to its third quarterly report of 2021, in the first nine months ended September 30 this year, the company’s total revenue was US $7.562 billion, an increase of 26% over US $604 million in the same period last year; Store expansion further accelerated, including 524 new stores in the third quarter, breaking the record of opening stores in a single quarter, and the total number of stores reached 11415.
Yum China will also increase its store opening target from 1300 to more than 1700 in 2021. Qu Cuirong once said that the company’s goal is to reach the 20000 store milestone faster than the first 10000 store milestone.
In the rapid expansion, stable personnel reserve and development are essential. Judging from the scope and intensity of this comprehensive upgrade of employee benefits, yum China is ready.