Remuneration, Benefits & Employee Care
Remuneration Policy
Taishin conducts annual salary surveys to measure itself against top-performing financial institutions local 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 7 consecutive years since 2014. In the employee opinion survey, the Company scored better than Taiwan's financial industry in general in the "Salary and welfare" category, which proves that Taishin's compensation system works in favor of retaining talents.
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 2020, male managers’ remunerations averaged 106% of those of female managers, whereas male staff's remunerations averaged 102% of those of female staff. 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. All full-time employees who have passed probation are required to undergo mid-year and annual appraisals, regardless of gender or job role. In the reported year, 100% of employees were subjected to regular performance and career reviews. Taishin adopts multi-dimensional approaches, such as 180-degree, 270-degree and 360-degree tools (incorporating assessments from supervisors, subordinates, co-workers, and the employees themselves) to assess employees' performance. These tools ensure the fairness of individual assessments, and also form a part of employees' individual development program.
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.
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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 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 6 days of paid leave which is superior to the 5 days specified in regulations.
- We provide 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.
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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.
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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- 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$4,372,500 in subsidies for children's education in 2020.
- We have signed special contracts with infant daycare institutions.
