Remuneration, Benefits & Employee Care
Remuneration Policy
Taishin conducts annual salary surveys to measure itself against top-performing financial institutions locally and abroad. The Company has designed a fair and incentive compensation system complete with competitive salary and welfare packages to reward its employees. Taishin has been a composition of "Taiwan High Compensation 100 Index" for 9 consecutive years since 2014. In the “salary and benefits” results of the employee opinion survey, colleagues gave positive comments on the link between salary and performance, which is also better than Taiwan’s financial industry, showing that Taishin’s salary can help motivate employees in terms of their performance.
Taishin offers salaries based on objective factors such as the level of education and competency required to accomplish the assigned position. Starting salaries for all positions are far superior to the basic wages stipulated in the Labor Standards Act, and actions have been taken to ensure that employees' salaries are not differentiated by gender, age or race. In 2022, male managers’ remunerations averaged 104% of those of female managers, whereas male general employees’ remunerations averaged 101% of those of female general employees’. There was no significant difference in terms of salary between the two genders.
Performance Management
Management Method
Taishin has tracked the performance of its employees using a Balanced Score Card (BSC) system for many years, in which Taishin's strategic goals are broken down into specific objectives and benchmarks. This allows Taishin to evaluate sustainability from a variety of aspects, including customers, finance, internal process, and learning and growth.
Full-time employees who passed probation are required to undergo annual appraisal, regardless of gender or job role. In the reported year, 100% of employees were subjected to regular performance and career reviews. In addition to fair assessment of individual performance, Taishin uses multi-dimensional assessment approaches of 180-degree, 270-degree and 360-degree tools (including supervisors, subordinates, peers, selfevaluation) and other different dimensions to assess employee performance and use them as the basis for IDP.
Performance System
By formulating clear and fair assessment standard and through explanations and guidelines, enabling all employees to implement tasks such as goal setting at the beginning of the year, annual goal adjustment, and annual appraisal in the online eMBO system.
According to the company's strategy, Taishin Financial Holdings and its subsidiaries allocate team goals to individual performance goals, and set up functional core values with 10-13 items for management positions and non-management positions in accordance with the " Performance Appraisal and Bonus Guidelines" , which includes compliance practice and supports company policy, applies risk awareness culture into our daily business, customer orientation, innovation and problem solving, teamwork, etc., according to the achievement of the goals and the display of the core values, the performance level of the unit is allocated, and it is used as the decision-making basis for bonuses, promotions and performance coaching management.
Improvement System
The performance management system opens top-performing employees to promotion opportunities, competitive compensation, and career development. As for employees who perform not as expected, Taishin has "Performance Improvement Guidelines" in place to help them improve.
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Daily Management
When a supervisor discovers no-as-expacted performance, the supervisor is required to engage the employee immediately in a performance interview to find the cause of under-performance, and outline improvement plans, assessment indicators and an improvement schedule.
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Duration of Performance Improvement
The Supervisor is required to observe the employees and check the processe and schedule of improvement plan, while offering guidance or correction as deemed appropriate.
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At the End of the Improvement Period
The supervisor and the employee will jointly evaluate completion of the improvement plan. In addition to informing the assessment results, the supervisor is also responsible for inspiring employee to pursue better performance.
Employee Benefits & Care
Driven by the organization's service spirit of devotion, attention, empathy, sincerity and passion, Taishin provides employees with benefits that are superior to those required under the Labor Standards Act, and has designed a series of benefit plans that take care of employees from their first day on board to retirement, addressing their needs and the needs of their family members at different stages of life cycle.
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Flexible work hours
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The Company provides comprehensive remote work equipment and corresponding system resources (mobile office VPN, and electronic signature system) for use by employees based on the nature of their work and business requirements while complying with all regulations and risk management requirements. In the event of special conditions, employees can process work remotely at home which increases work hour flexibility.
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Learning Subsidies
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- Learning account (Industry originality): Every Taishin full-time employee is allocated 10,000 credits in their learning accounts per year that they can spend on the Company's internal "Self-study Courses" or to take courses or certification exams organized outside Taishin, and hence develop professional skills at their own discretion.
- Domestic and international on-job training subsidies: To support development of top talents, Taishin provides qualified employees with subsidies amounting up to NT$20,000 per semester as an encouragement for undertaking ongoing education outside work hours. Furthermore, the Company selects senior managers to undergo EMBA courses organized by renowned overseas institutions from time to time, which helps broaden managers' global perspectives and establish local connections.
- Subsidy for financial certification exams: Taishin offers comprehensive incentives to encourage employees in acquiring finance-related certifications, and hence raise the level of professional knowledge across its
talent base.By offering complete learning guidance and incentives, these courses are intended to help employees acquire their certification and build professionalism in Taishin's brand.
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Son/ Daughter 's Wedding Leave
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Taishin cares for employees as well as their family members, and allows employees to take children's wedding leaves so that they can take part in the big moments of their Son/Daughter 's lives. Every employee is entitled to one fully paid day of children's wedding leave from the first day onboard. Couples who are both Taishin employees may apply to take leave on the same day.
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Family Support System
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To provide employees with a secure work environment, Taishin provides family support mechanisms that are superior to regulatory requirements (including maternity leave, paternity leave, family care leave, and flexible work hours) so that employees can concentrate on their work and take care of their families.
- We provide 8 days pregnancy checkups leave with full pay for pregnant female employees, which is is superior to the 7 days specified in regulations.
- We provide female employees who are giving birth with 60 days of paid leave which is superior to the 8 weeks specified in regulations.
- We provide employees whose spouse is giving birth with 8 days of paid leave which is superior to the 7 days specified in regulations.
- We provide 5-7 days of paid miscarriage leave for less than 3 months of pregnancy to help employees take care of their physical health.
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Paid Volunteer Leave
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Taishin adopts a "Volunteer Leave" system that grants employees one full day of annual leave for six cumulative hours of volunteer service, subject to a maximum of five days per year. The system was introduced to reward volunteers for their selfless acts.
In 2022, a total of 399 persons applied for 215.5 days of paid volunteer leave, and there was no significant fluctuation compared with the previous year.
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Long-time Service Rewards
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As a recognition for employees' long-term contribution, Taishin introduced a set of "Long-time Service Reward Standards" in 2004 that rewards senior employees with a commendation, bonus, and a letter of gratitude from the Chairman for having completed 5, 10, 15, 20 and 25 years of service.
In 2022, a total of 1,195 persons were eligible for long service incentives, and the payment amount was about NT$10 million.
Maternity Protection Benefits
Taishin pays close attention to maternity and child labor protection. We strictly prohibit the hiring of child labor under the age of 16 and we provide related benefits and systems for different stages from prenatal, pregnancy, postpartum, and parenting care for female employees.
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Female employees
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Female employees can take one day of menstrual leave each month to rest at home.
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Pregnant employees
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- We provide prenatal care, postpartum care, labor and health insurance, group insurance, and childcare benefits for different stages of pregnancy.
- We provide services for maternity clothes for pregnant female employees to provide mothers-to-be with comfortable clothes.
- Female employees are entitled to 40 hours of paid prenatal check-up leave and 60 days of maternity leave, which are superior to regulatory requirements. The Company may provide up to 9 months of tocolysis leave based on the health conditions of the mother and the doctor's instructions to help employees adjust their physical and mental conditions.
- If an employee suffers a miscarriage, the Company provides miscarriage leave of at least 5 days and up to 4 weeks.
- Taishin engages physicians to organize regular health seminars and hazard identification courses for pregnant employees and those who have given birth for less than one year. In addition, these physicians provide suggestions on how the workplace can be improved to eliminate hazards, and offer consultation and health education to those in need.
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Postpartum care and childcare
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- A childbirth subsidy of NT$5,000 per child, with a total of NT$845,000 subsidized in 2022.
- Sign special agreements with childcare and infant care institutions to provide preferential plans for childcare and infant care.
- We have set up nursery rooms at Ren'ai, Neihu and Jianbei offices to provide mothers with a comfortable nursing environment.
- Taishin provides family care leave and paternity leave superior to regulatory requirements and provides all employees with the right to apply for childcare leave without pay and reinstatement in accordance with laws.
- We have signed special contracts with postpartum nursing institutions. Taishin engages physicians to provide onsite services and provide health seminars for pregnant employees or employees with newborns.
- We set up children's education scholarships to reward outstanding performance of employees' children. We provided NT$5,173,000 in subsidies for children's education in 2022.
- We have signed special contracts with infant daycare institutions.
