Dealing With The Most Difficult Part - Complaints of your own employees
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Complaint Procedures for Accounting and Auditing Matters[/b]
Any employee of YUM! Brands, Inc. or one of its restaurant operating companies may submit a good faith complaint regarding accounting or auditing matters to the management of the Company without fear of dismissal or retaliation of any kind. The Company is committed to complying with all applicable securities laws and regulations, listing standards, accounting standards, accounting controls and audit practices. The Audit Committee of the YUM! Brands, Inc. Board of Directors will oversee treatment of employee concerns in this area.
In order to facilitate the reporting of employee complaints, the Audit Committee has established the following procedures for the receipt, retention and treatment of complaints regarding accounting, internal accounting controls, or auditing matters and the confidential, anonymous submission by employees of concerns regarding questionable Accounting Matters.
Receipt of Employee Complaints[/b]
§ Employees with concerns regarding Accounting Matters may report their complaints or concerns to the General Counsel of YUM! Brands, Inc.
§ Employees may forward complaints or concerns on a confidential or anonymous basis to the General Counsel through the Company’s Employee Hotline, e-mail or regular mail as follows:
Scope of Matters Covered by These Procedures[/b]
These procedures relate to employee complaints or concerns regarding any questionable Accounting Matters, including, without limitation, the following:
§ Fraud or error in the preparation, evaluation, review or audit of any financial statement of the Company;
§ Fraud or error in the recording and maintaining of financial records of the Company;
§ Deficiencies in or noncompliance with the Company’s internal accounting controls;
§ Misrepresentation or false statement to or by a senior officer or accountant regarding a matter contained in the financial records, financial reports or audit reports of the Company; or
§ Deviation from full and fair reporting of the Company’s financial condition or performance
Treatment of Complaints[/b]
§ Upon receipt of a complaint or concern, the General Counsel will (i) determine whether the complaint or concern actually pertains to Accounting Matters and (ii) when possible, acknowledge receipt of the complaint or concern to the sender.
§ The General Counsel will promptly report and forward any complaint to the Chairperson of the Audit Committee that relates, or could reasonably relate, to a material Accounting Matter. All other complaints relating to Accounting Matters shall be reported by the General Counsel to the Audit Committee on a periodic basis as directed by the Chairperson of the Audit Committee.
§ Complaints relating to Accounting Matters will be reviewed under Audit Committee direction and oversight by the General Counsel, Internal Audit or such other persons as the Audit Committee determines to be appropriate. Confidentiality will be maintained to the fullest extent possible, consistent with the need to conduct an adequate review and subject to requirements of law.
§ Prompt and appropriate corrective action will be taken when and as warranted in the judgment of the Audit Committee.
§ The Company will not discharge, demote, suspend, threaten, harass or in any manner discriminate against any employee in the terms and conditions of employment based upon any lawful actions of such employee with respect to good faith reporting of complaints or concerns regarding Accounting Matters or otherwise as specified in Section 806 of the Sarbanes-Oxley Act of 2002.
Reporting and Retention of Complaints and Investigations[/b][/b]
The General Counsel will maintain a log of all complaints or concerns, tracking their receipt, investigation and resolution and shall prepare a periodic summary report thereof for the Audit Committee. Copies of complaints or concerns and such log will be maintained in accordance with the Company’s document retention policy.
Application to Individuals Other than Employees
These procedures also apply to the receipt, retention and treatment of complaints or concerns relating to Accounting Matters received from persons other than employees of the Company.
Any employees of an org may submit a good faith complaint regarding accounting or auditing matters to the management of without fear of dismissal or retaliation of any kind. We are committed to achieving compliance with all applicable securities laws and regulations, accounting standards, accounting controls and audit practices. Our Audit Committee will oversee treatment of employee concerns in this area.
These procedures relate to employee complaints regarding questionable accounting or auditing matters such as: fraud in the preparation or audit of any financial record or financial statement of the Company; noncompliance with the Company’s internal accounting controls; false statements to or by a senior officer or accountant regarding a matter contained in the financial records or audit reports of the Company.
1. Higher salaries – pay is the number one area in which employees seek change.
2. Internal pay equity, particularly having concerns with “pay compression” (the differential in pay between new and more tenured employees).
3. Benefits programs, particularly health/dental, retirement, and Paid Time Off/vacation days. Specifically, many employees feel that their health insurance costs too much, especially prescription drug programs.
4. “Over-management” (A common phrase seen in employee comments is “Too many chiefs, not enough Indians”).
5. Pay increase guidelines should place greater emphasis on merit.
6. The Human Resource department needs to be more responsive to their questions and/or concerns.
7. Favoritism.
8. Improved communication and availability (both from their supervisors and upper management).
9. Workloads are too heavy and/or departments are understaffed.
10. Facility cleanliness.
Top 10 employee complaints[/b]
Salaries
Internal pay equity
Benefits programs, particularly health and dental insurance, retirement, and Paid Time Off / vacation day
Over management
Pay increase guidelines for merit
HR department response to employees
Favoritism
Communication & availability
Workloads are too heavy
Facility cleanliness
[/b]
[/b]
Complaint Procedures for Accounting and Auditing Matters[/b]
Any employee of YUM! Brands, Inc. or one of its restaurant operating companies may submit a good faith complaint regarding accounting or auditing matters to the management of the Company without fear of dismissal or retaliation of any kind. The Company is committed to complying with all applicable securities laws and regulations, listing standards, accounting standards, accounting controls and audit practices. The Audit Committee of the YUM! Brands, Inc. Board of Directors will oversee treatment of employee concerns in this area.
In order to facilitate the reporting of employee complaints, the Audit Committee has established the following procedures for the receipt, retention and treatment of complaints regarding accounting, internal accounting controls, or auditing matters and the confidential, anonymous submission by employees of concerns regarding questionable Accounting Matters.
Receipt of Employee Complaints[/b]
§ Employees with concerns regarding Accounting Matters may report their complaints or concerns to the General Counsel of YUM! Brands, Inc.
§ Employees may forward complaints or concerns on a confidential or anonymous basis to the General Counsel through the Company’s Employee Hotline, e-mail or regular mail as follows:
Scope of Matters Covered by These Procedures[/b]
These procedures relate to employee complaints or concerns regarding any questionable Accounting Matters, including, without limitation, the following:
§ Fraud or error in the preparation, evaluation, review or audit of any financial statement of the Company;
§ Fraud or error in the recording and maintaining of financial records of the Company;
§ Deficiencies in or noncompliance with the Company’s internal accounting controls;
§ Misrepresentation or false statement to or by a senior officer or accountant regarding a matter contained in the financial records, financial reports or audit reports of the Company; or
§ Deviation from full and fair reporting of the Company’s financial condition or performance
Treatment of Complaints[/b]
§ Upon receipt of a complaint or concern, the General Counsel will (i) determine whether the complaint or concern actually pertains to Accounting Matters and (ii) when possible, acknowledge receipt of the complaint or concern to the sender.
§ The General Counsel will promptly report and forward any complaint to the Chairperson of the Audit Committee that relates, or could reasonably relate, to a material Accounting Matter. All other complaints relating to Accounting Matters shall be reported by the General Counsel to the Audit Committee on a periodic basis as directed by the Chairperson of the Audit Committee.
§ Complaints relating to Accounting Matters will be reviewed under Audit Committee direction and oversight by the General Counsel, Internal Audit or such other persons as the Audit Committee determines to be appropriate. Confidentiality will be maintained to the fullest extent possible, consistent with the need to conduct an adequate review and subject to requirements of law.
§ Prompt and appropriate corrective action will be taken when and as warranted in the judgment of the Audit Committee.
§ The Company will not discharge, demote, suspend, threaten, harass or in any manner discriminate against any employee in the terms and conditions of employment based upon any lawful actions of such employee with respect to good faith reporting of complaints or concerns regarding Accounting Matters or otherwise as specified in Section 806 of the Sarbanes-Oxley Act of 2002.
Reporting and Retention of Complaints and Investigations[/b][/b]
The General Counsel will maintain a log of all complaints or concerns, tracking their receipt, investigation and resolution and shall prepare a periodic summary report thereof for the Audit Committee. Copies of complaints or concerns and such log will be maintained in accordance with the Company’s document retention policy.
Application to Individuals Other than Employees
These procedures also apply to the receipt, retention and treatment of complaints or concerns relating to Accounting Matters received from persons other than employees of the Company.
Any employees of an org may submit a good faith complaint regarding accounting or auditing matters to the management of without fear of dismissal or retaliation of any kind. We are committed to achieving compliance with all applicable securities laws and regulations, accounting standards, accounting controls and audit practices. Our Audit Committee will oversee treatment of employee concerns in this area.
These procedures relate to employee complaints regarding questionable accounting or auditing matters such as: fraud in the preparation or audit of any financial record or financial statement of the Company; noncompliance with the Company’s internal accounting controls; false statements to or by a senior officer or accountant regarding a matter contained in the financial records or audit reports of the Company.
1. Higher salaries – pay is the number one area in which employees seek change.
2. Internal pay equity, particularly having concerns with “pay compression” (the differential in pay between new and more tenured employees).
3. Benefits programs, particularly health/dental, retirement, and Paid Time Off/vacation days. Specifically, many employees feel that their health insurance costs too much, especially prescription drug programs.
4. “Over-management” (A common phrase seen in employee comments is “Too many chiefs, not enough Indians”).
5. Pay increase guidelines should place greater emphasis on merit.
6. The Human Resource department needs to be more responsive to their questions and/or concerns.
7. Favoritism.
8. Improved communication and availability (both from their supervisors and upper management).
9. Workloads are too heavy and/or departments are understaffed.
10. Facility cleanliness.
Top 10 employee complaints[/b]
Salaries
Internal pay equity
Benefits programs, particularly health and dental insurance, retirement, and Paid Time Off / vacation day
Over management
Pay increase guidelines for merit
HR department response to employees
Favoritism
Communication & availability
Workloads are too heavy
Facility cleanliness