Workplace Health and Safety
Human Resources
Personnel Overview
Due to the characteristics of the chemical industry, the Company has more male employees than female employees. As of the end of 2022, there are 1,378 employees of the Company. The work location is mainly based in Taiwan. Over 90% of the full-time employees and employees of irregular contracts, their average age is around 44.4 years old with length of service around 10.7 years, most of them with an education above universities and colleges. The average age of managerial officers is 47.8 years old; female managers accounted for approximately 16.8% of all managers. There have been no significant changes to the overall labor force structure as compared to the past years. The Company strictly complies with the labor act that prohibits child labor. The personnel regulations stipulate that new employees must be over 16 years old, therefore, no employee is under the age of 16.
Even though due to the traits of the chemical industry that there are more male employees in the labor force structure standing at around 60%, the Company upholds the Principle of Equal Treatment and treats every employee fairly. Labor rights or work conditions will not be any different, regardless of one's gender, religion, race, nationality and so on factors.
Attracting and Retention of Talents
The Company recruit talents through multiple recruitment channels such as the company website, job bank, internal employee recommendations, interns nurturing plans and so on. Priority consideration goes to talents from the central Changhua region providing local job opportunities. In concert with providing diverse benefits, competitive and motivational salary and bonuses, a complete promotion channel and educational trainings, and group business transfer mechanisms, providing employees opportunities in comprehensive learning and work experiences. In 2022, there are a total of 73 newly recruited employees on irregular contracts for the Company, employment rate at 5.6%.
There are 85 employees resigned, a turnover rate of 6.5% in 2022. The human resource unit will arrange a face-to-face exit interview with the resigning employee to understand the reasons for leaving and to express care and consolation. The reasons for resignation and statistics will be compiled for use by internal management and for improvements. If the employee’s position is adjusted due to the needs of the organization or business, the change will proceed only after agreement between the labor and management negotiation. The average employee turnover over the past three years is 6.2%. The Company has maintained a positive employee turnover level that ensures an innovative and revitalized organization.
To maintain competitiveness in the job market, the Company continues to optimize the remuneration mechanism. In recent years, higher pay raise is given to exceptional basic-level employees. Nurturing mechanism for mid-level and basic level managers has been accelerated to smoothen the talent succession process.
Employee Remuneration and Performance Management
The Company’s employee remuneration policy is in compliance with the related labor laws and regulations and has referenced the salary standard of the labor market. Amounts for distribution are approved based on one’s position and education, professional techniques, years of service, capability, work burden, work performance and so on factors.
Adhering to the philosophy of sharing operating achievements with employees, the Company plans the overall staff salary adjustment policy and reviews the salary structure and staff promotion plan according to the organizational development, operational performance, and market salary standards every year, and establishes motivating Regulations for Year-End Bonuses and Performance Bonuses based on the achievement rate of our turnover and profits, as well as the year-on-year growth rate. In addition, according to the requirements of the Articles of Association, if the Company records any profit, it shall appropriate 1% as remuneration for employees. Moreover, when employees have excellent performance or special contributions and innovation proposals, the Company also distributes bonuses for commendation.
The Company’s employee remuneration policy is in compliance with the related labor laws and regulations and has referenced the salary standard of the labor market. Amounts for distribution are approved based on one’s position and education, professional techniques, years of service, capability, work burden, work performance and so on factors.
Adhering to the philosophy of sharing operating achievements with employees, the Company plans the overall staff salary adjustment policy and reviews the salary structure and staff promotion plan according to the organizational development, operational performance, and market salary standards every year, and establishes motivating Regulations for Year-End Bonuses and Performance Bonuses based on the achievement rate of our turnover and profits, as well as the year-on-year growth rate. In addition, according to the requirements of the Articles of Association, if the Company records any profit, it shall appropriate 1% as remuneration for employees. Moreover, when employees have excellent performance or special contributions and innovation proposals, the Company also distributes bonuses for commendation.
The bonus regulations of the Company are associated with the performance evaluation system, and the employees' performance serves as an important reference for the amount of bonus distribution, salary adjustment, position promotion, and work competence of employees. To comprehensively evaluate the work performance and potential of all employees and establish an environment for active learning by employees. The Company has established evaluation items, including work objectives, and learning and growth objectives based on different duties. The establishment of objectives is made after discussions between the employee and the supervisor of the department, and the evaluation is performed on a quarterly basis. The Company provides incentives to those with excellent performance, and supervisors provide feedback and consultation for those with room to assist them in improving their work performance, and in turn, facilitate the joint growth of employees and the Company.
The Company continued to review its remuneration policy, whether it is the employees' salary standards, allowance payment, annual salary adjustment, or bonus calculation, according to the market standards to ensure the competitiveness of salary. The average raise level of management and non-management positions of the Company was 5.3% in 2022. Some out-performing employees received an adjustment of more than 11%; the average employee bonus reached 5.6 months. Overall, the Company's average labor cost for the years ended December 31, 2022, and 2021 was NTD 912 thousand and NTD 905 thousand, respectively while average salary and bonus was NTD 778 thousand and NTD 780 thousand; average and median salaries for non-management employees increased compared to 2021. Based on the Company's prospects for continued growth, we believe that providing a quality remuneration system will drive the Company to continue to achieve operational success.
Salary information of non-management employees
| tems | 2021 | 2022 | Differences to the Previous Year |
|---|---|---|---|
| Number of people (weighted average) | 1,342 | 1,343 | -1 persons |
| Total salary amount (thousands of NT$) | 981,841 | 1,040,897 | +6.0% |
| Average salary (thousands of NT$) | 732 | 775 | +5.9% |
| Median amount for salary (thousands of NT$) | 654 | 679 | +3.8% |
Note: The statistics for the full-time employee salary information of non-managerial positions will be compiled based on the "Rules Governing Information Filing on salary of full-time employees who are not in a managerial position" established and released by the Taiwan Stock Exchange Corporation. The number of people refers to all the hired employees (or regular employees) deducts employees in managerial positions (managers), overseas branch employees, some hourly employees, and full-time employees (including Taiwanese and foreign employees) who qualify for exclusion and exemption in the personnel statistics and add the weighted average (the average number of employees for the end of each month is rounded off to the nearest whole number).
Pension Scheme
The Company implements the employee retirement regulations by appropriating a fixed monthly amount for the employees’ retirement funds in accordance with the Labor Standards Act and Labor Pension Act. Furthermore, commemorative coins and medals are gifts presented to retired employees to commend and appreciate their long-term contributions to the company. There will also be occasional social dinner for the retired employees.
The Company implements the employee retirement regulations by appropriating a fixed monthly amount for the employees’ retirement funds in accordance with the Labor Standards Act and Labor Pension Act. Furthermore, commemorative coins and medals are gifts presented to retired employees to commend and appreciate their long-term contributions to the company. There will also be occasional social dinner for the retired employees.
Retirement pension appropriation in accordance with Labor Standards Act (old system)
Allocate 2% of employee’s monthly salary to retirement pension and deposit to a special account with Bank of Taiwan in the name of Supervision Committee of Labor Retirement Reserve. By end of the year, if the estimated special account balance is insufficient to pay the employees who are expected to meet the retirement conditions within one year, the difference will be allocated once before March of the following year.
Retirement pension appropriation in accordance with Labor Pension Act (new system)
Allocate 6% of each employee’s monthly salary to retirement pension and deposit to a personal account with Bureau of Labor Insurance every month. Employees can apply for retirement pension payment to the Bureau of Labor Insurance when reach the age of 60.
Retirement eligibility and pension payment: when an employee meets one of the following conditions, he or she can apply for retirement voluntarily.
Pension of employees shall be calculated according to their years of service and the average salary for the six months before the retirement approved.
A. Those who have worked for more than 15 years and reached the age of 55
B. Those who have worked for more than 10 years and reached the age of 60
C. Those who have worked for more than 25 yearsRetirement pension appropriation in accordance with Labor Pension Act (new system)
Allocate 6% of each employee’s monthly salary to retirement pension and deposit to a personal account with Bureau of Labor Insurance every month. Employees can apply for retirement pension payment to the Bureau of Labor Insurance when reach the age of 60.
