'So we love our people and they love the company and brand,' said the CEO of YUM China, Joey Wat, of her 460,000 employees.
simply click here to claim your deal and get access to all exclusive Business Insider PRIME content.YUM is China's largest restaurant company that includes chains like KFC, Pizza Hut, and Taco Bell. YUM China employs close to 460,000 people.poke with Business Insider at the World Economic Forum in Davos, Switzerland, about how automation won't replace her workforce, which she views as family.
YUM China, which has exclusive rights to fast-food restaurants in China including KFC, Pizza Hut, and Taco Bell, became independent from the US YUM company in 2016. YUM China has stores in about 1,300 out of nearly 2,000 cities in China. Wat said that each of the 10,000 store managers in YUM China's stores has grown his or her career from within the company. Many managers have been with the company for close to 20 years, Wat said, and the turnover rate for KFC store managers — the largest restaurant in the group's portfolio — is running as low as 6% to 7%.Wat said that while she recognizes that automation and digitalization are trends that are directly impacting her business, her company has been able to adapt.
"We told our employees if you work with us for 10 years and then you find that nobody wants you in the market anymore, for any reason, then I feel terrible as an employer," Wat explained. "You don't want your son or your daughter to be in an environment where they are not competitive anymore. Why would you do that to your own staff?"
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